The Virtual Account Service (VAS) includes built-in monitoring and reporting capabilities to ensure regulatory compliance, provide transparency, and give Corporate Clients visibility into fund movements.
Monitoring is focused on AML/compliance checks, fund flow oversight, and balance tracking, while reporting offers detailed account- and transaction-level insights.
- All inbound and outbound transfers are assessed against AML and compliance requirements.
- Ensures funds originate from legitimate, whitelisted sources and are directed to approved customer accounts.
- Transfers from unknown or non-whitelisted accounts may be rejected or held for investigation.
- Continuous oversight of transfers between Sub Accounts and Parent Accounts.
- Enforced routing rules (Sub → Parent → Settlement, Settlement → Parent → Sub) ensure compliance and proper reconciliation.
- Controls are applied at each stage of the transaction to prevent unauthorized movements.
- Sub Account balances are continuously monitored.
- All inflows and outflows are logged with timestamped events.
- Monitoring is supported by core banking system enquiries and automated reporting, ensuring full traceability of balances and movements.
When a hit is detected such as a PEP, sanctions or adverse media for an end client we will notify you via our relationship management team.