LASCO Financial Services Limited (LFSL) is an authorised Foreign exchange dealer, licensed Cambio and Remittance agent, non-deposit taking financial institution. The entity is licensed, approved and regulated by the Bank of Jamaica (BOJ). The organisation is required to comply with the Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) Legislations. As such LFSL has established policies and procedures consistent with the Proceeds of Crime Act (2007) and the Proceeds of Crime (Amendment) Act 2013, The Proceeds of Crime (Money Laundering) Regulations 2007 and all other applicable legislations and the Bank of Jamaica’s Guidance Notes.

Money Laundering is defined as engaging in acts illicit or otherwise designed to conceal or disguise the true origin of criminally-derived proceeds so that it appears to have been originated from a legitimate source. In fulfilling the regulatory requirements of the AML/CFT legislations and BOJ Guidance Notes, greater emphasis by LFSL is placed on “Know Your Customer” (KYC) and the use of the Risk-based approach surrounding transactions and customers alike throughout its network of over 130 agents.  The organisation is required to accurately maintain records of customer identification and verification, transaction and source of funds, as well as an expected transaction profile of its Cambio customers.

LFSL its Cambio, Remittance and Loans Agent network are required to obtain client information and verification of residency which may include, but is not limited to, obtaining proof of Tax Identification (Tax Registration Number) or any similar document such as Social Insurance Number/National Insurance Number/Social Security Number/Tax Insurance Number; country of residency/place of birth; passport identification or any relevant government issued identification; bank account or transaction verifications; and other documentation as required by the regulatory bodies.

 For further clarification please contact LASCO Financial Services Limited at: 38 ½ Red Hills Road, Kingston 10 Jamaica W.I or via telephone at (876) 906-7473 for further information, questions and/concerns regarding our KYC requirements and prescribed documents required to transact business.