Nivara’s policy and process for monitoring transactions will be based on the following underlying elements:

  • System of periodical review of risk categorization of accounts and the need for applying enhanced due diligence measures
  • Extent of monitoring will depend on the risk sensitivity of the account
  • Prescribe threshold limits for a particular category of accounts and pay particular attention to the transactions which exceed these limits
  • Transactions that involve large amounts of cash inconsistent with the normal and expected activity of the customer will attract attention and reported
  • While cash transactions cannot be avoided, there will be appropriate controls and dis-incentives to minimize them
  • Disbursements will always be through cheques.

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