As part of its obligation to combat money laundering and terrorism, Botswana has enacted laws, specifically the Proceeds of Crime Act, which require insurance companies such as AlphaDirect to implement systems to ensure they properly identify their customers. In addition, AlphaDirect’s regulator, NBFIRA, has issued Anti-Money Laundering Guidelines that all insurance companies must comply with, which also requires us to know our customers.
WHAT IS KYC?
KYC is the process used by financial institutions to verify the identity of its customers. The objective of KYC is to prevent institutions from being used by criminals for money laundering activities. KYC is regarded internationally as important in preventing identity theft, financial fraud, money laundering and terrorist financing.
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For new policies, or if you are renewing an annual payment policy, please ensure you transfer your first month’s premium into the following account: (Use your Policy Number or Vehicle Registration Number as reference). Submit proof of payment to email@example.com
FNB (Corporate Branch)
Account Number : 6240 3392 335
Branch Code : 282267
And that’s it! You’re done. Thank you for choosing Alpha Direct Insurance.