Riham online recognizes that compliance with current regulatory changes and revisions to the Bank Secrecy Act and other related regulations are fundamental to the successfully operation of a money services business in most regions of the world. As a result, Riham Online’s mission is to adhere and adapt sound business ethics and practices through the execution and maintenance of strict corporate internal policy, risk and operational controls. The corner stone of the Corporation’s Enhanced Policy Mechanisms ensure “strict compliance” in the current regulatory environment the delivery of excellent services to its clients the provision of products and services tailored to unique client needs and to provide reliable reporting and information to all concerned parties, including to any relevant regulatory agency. The task of Regulatory Agencies is to curb and protect from the society all sorts of Money Laundering and Terrorist Financing Activities.

Definitions:

1. 1. Money Laundering is generally defined as the process of concealing the existence, illegal sources, or application of income derived from criminal activity, and the subsequent disguising of the source of that income to make it appear legitimate.
   2. The conversion or Transfer of property, knowing its derived from a criminal offence, for the purpose of concealing or disguising its illicit origin or of assisting any person who is involved in the commission of the crime to evade the legal consequence of the action.
   3. The concealing or disguising of the true nature, source, location, disposition, movement, right with respect to, or ownership of property knowing that its derived from a criminal offence.
   4. The acquisition, possession or use of property knowing at the time of its receipt that it was derived from a criminal offence or from participation in a crime.
   5. Money Laundering is method used to “Wash” away the “Paper Trail” of illegally obtained funds in order to conceal the true ownership and source of the funds.