Zoha, Inc is committed to complying fully with not only the letter of the BSA, but also its spirit, and to taking affirmative steps to detect, prevent and report to appropriate government authorities, to the extent permitted by applicable laws and regulations, known and suspected violations of the Bank Secrecy Act, money laundering statutes and other crimes. In the United States, the Bank Secrecy Act (the “BSA”) requires wire transmitters and other financial institutions to maintain a variety of records to assist the government in the prevention and detection of criminal activity, including identification records for wire transfers and cash sales of monetary instruments of $3,000 and over and exchanges of currency of more than $1,000, as well as file reports for currency transactions of over $10,000. In addition, the BSA makes it a crime to “structure” or break down transactions below the reporting or recordkeeping thresholds to evade BSA reporting or recordkeeping requirements. Structuring or failing to comply with the BSA can result in the imposition of large criminal and civil penalties against the financial institution and any employee involved in the transaction. Individuals also may be imprisoned for up to 10 years, and the funds involved in the transaction may be forfeited.

Zoha, Inc. is a money transmitter company with a strong department in internal compliance. Each transaction is thoroughly checked following the rules of OFAC (Office of Foreign Assets Control). Our OFAC list is updated everyday from US. Treasury Department and our systems are connected directly with the OFAC Department for daily check for OFAC updates. Our compliance officers follow the regulations for Bank Secrecy Act (BSA), Currency Transaction Report (CTR) and Suspicious Activity Report (SAR), if required.

Each remittance is double-checked by our Compliance team to ensure risk management. All our new managers and agents are given training session by Michael McDonald and Associates on yearly basis, as well as our ICD (Internal Compliance Department), explaining the importance of BSA and OFAC. A thorough report of all the monthly transaction is also reviewed and reports are generated to update management.

Zoha, Inc. agrees to continue to fully comply with all State and Federal statues and regulations relating to money laundering Policies. We hope that the documents we have enclosed within will enlighten you about Zoha, Inc.’s Compliance Department. If you need any further information or have any question, then please feel free to contact us.