Current Central Bank rules treat exchange business and money transfers as licensed financial activities. Check the provider’s trading name and licensing status in the official register. A company registration or bank account alone is not permission to offer remittance services.
Record the sending amount and currency, exchange rate, fees, amount to be received and destination before payment. If someone requests transfer to a third party’s account, establish that relationship directly with the institution through its official channel; a personal receipt is not the institution’s receipt.
Keep the transaction reference, receipt, parties’ details and complete discussion of the payment’s purpose. A remittance dispute can involve different contractual, regulatory or criminal questions. It does not automatically prove money laundering without examination of the relevant legal elements and facts.
A practical next step
Match the provider to its official licence and independently confirm the transfer terms and destination account before sending money.
Official sources
Adapted from a photo post shared on Dr. Bahrami’s Instagram and checked against official sources. This page provides the updated guidance.
Original Instagram post