Established on June 1, 2006, under the approval of the Central Bank of Nepal (Nepal Rastra Bank) with the paid-up capital of NPR. 100 million (USD 1 million) Samsara Remit has been striving ever since with a focus on the customer - making it faster, convenient, and affordable, supporting Nepalese migrants globally. The company is a wholly-owned subsidiary of Nepal’s renowned conglomerate Arihant Group.
Customer Risk is depending upon the customer and company relationship. Customer risk is detected by the segmentation that risk perceptions of the customer’s profile. It is conducted when the customer performs an action that provides no parallel to their profile.
Customer risk Assessment is conducted by the various risk indicators.
Bank Deposit: Bank Deposit transaction goes through multiple screening.
Samsara System >> NCHL >> Bank
SANCTIONED LIST - UK
Fed in Samsara System
Step 1: Hold Status
Step 2: Compliance Notification
Step 3: Suspicious Hold List
Step 4: FIU Reporting
Every transaction exceeding the Policy and limits set by Central Bank of Nepal has to be immediately reported to the Central Bank Financial Information Unit (FIU). When the inwarded transaction is getting monitored and if found suspicious or crossing the threshold amount it is then reported via “go AML” to the FIU Department. Go AML is a FIU department official reporting website where we have to report every TTR and STR logging into the site https://goaml.fiu.nrb.org.np/TST/Home
We have Record Retention policy of about 6 years. Every updated KYC, Payment slips, and Account Deposited, fund transfer documents are physically kept in the Record Files.
Generally the Central bank of Nepal (Nepal Rastra Bank) provides us the instructions, information and updated policy regarding the rules and regulations for us. With reference to its circulars we conduct our performance. We hereby follow the instructions and policy besides that we don’t have Independent Audit. Private Companies in Nepal are not required to complete Independent Audit or Internal Audit as we call it. Samsara does have External Audits once in each Fiscal Year.