Under the Money Laundering Regulations 2007, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Revenue & Customs. Activities falling within the scope of the Money Service Business include the operations of bureau de change, transmission of money by any means and the cashing of third party cheques.
In addition we subscribe to the Non-Investment Products code created by the Bank of England which regulates companies involved in foreign exchange transactions such as spots and forward contracts.
We’re a licensed Financial Services Provider in South Africa, as well as holding a mandate from the South African Reserve Bank to act as an intermediary in the FX markets.
Currencies Direct Ltd holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12132225.
You can find our Terms & Conditions here, or please feel free to get in touch if you have any questions.