It is when someone engages in acts designed to conceal or disguise the true origins of criminally derived process. Money laundering can facilitate crimes such as fraud, tax evasion, drug trafficking and terrorism.
To make illegally obtained funds appear legitimate. Any involvement in a transaction that seeks to conceal or disguise the nature, location, source, ownership or controls of such proceeds may constitute money laundering.
Money laundering regulations and related risk requirements require TreviPay to implement customer due diligence and other onboarding requirements when establishing a client or customer relationship.
All new clients and customers must be prepared to provide the required information and documentation noted in the onboarding application. This is done to satisfy regulatory expectations and manage TreviPay’s credit and fraud risk requirements.
TreviPay will validate application information provided against your current ASIC registration including proper registration of business trade names.
TreviPay will validate data such as company name, tax IDs, business registration and authorised signer identification.
Fraud risk controls also help protect the client and customer by identifying fraudulent companies or company impersonation. Elements reviewed include websites, IP addresses, emails and digital footprints.
TreviPay must validate certain identifying information for 25% or greater direct or indirect owners.
Subject to local regulations and TreviPay requirements, an ID or ID details may be required.
TreviPay will collect a current bank statement or voided cheque to validate your payment bank account matches the applicant's business name.
Multi Service Pty Ltd trading as TreviPay (“TreviPay”) is a registered independent remittance dealer on the AUSTRAC Remittance Section Register and is registered with AUSTRAC under the Anti-Money Laundering/Counter Terrorism Financing Act 2006 and Anti-Money Laundering/Counter Terrorism Financing Rules 2007. TreviPay’s AUSTRAC registration number is 100584550.
TreviPay’s AUSTRAC registration subjects it to ongoing oversight by AUSTRAC including strict client and customer account registration and onboarding compliance requirements in order to operate in Australia.
All information collected is subjected to strict recordkeeping, data retention, and privacy standards.
