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Additional security measures for transfers to Tanzania, Uganda, and Senegal
Additional security measures for transfers to Tanzania, Uganda, and Senegal

Frequently asked questions about why we are required to ask for your source of wealth when sending to Tanzania, Uganda and Senegal

Updated over a week ago

1. Why are you asking for the source of my wealth?

We are introducing this new feature to comply with regulations related to anti-money laundering (AML) and combating the financing of terrorism (CFT). It also adds an extra layer of security to your financial transactions and ensures the integrity of our system.

2. Which countries are affected by this change?

This change applies to your next transfer to Tanzania, Uganda, and Senegal. We will only ask for this once

3. When will this new feature be implemented?

We are asking for this as of 30th August. Any new or existing customer will be prompted to provide the source of your wealth information the next time you initiate a transfer to any of the mentioned countries.

Security and Data Handling

4. Is my data secure?

Absolutely. We adhere to stringent data protection laws and regulations. Your information will be treated with the strictest confidentiality and will be stored securely.

5. Who will have access to this information?

Only authorized personnel who need the information for compliance purposes will have access to this data.

6. How will this information be used?

The information will be used solely for compliance with international financial regulations. It will not be used for marketing or any other purposes.

How to provide Source of Wealth

7. How do I provide this information?

You will see a new prompt in our app when you attempt to make a transfer to Tanzania, Uganda, or Senegal. Just follow the on-screen instructions to update this information.

8 What if I don't want to provide this information?

Failure to provide the required information will result in an inability to complete your next transfer to the affected countries. Unfortunately, this will be required to continue to use NALA.

9. Do I have to provide this for every transfer?

No, you only need to provide this information to us once, when sending to Uganda, Tanzania and Senegal

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