What is a Third Party Transaction?

 

A Third Party transaction is where you, the conductor of the transaction, are acting on behalf of someone else.

For example, if your employer sends you to us to complete a currency exchange transaction on behalf of them:

  • You would be the First Party
  • Guardian International Currency would be the Second Party
  • Your employer would be the Third Party

 

There are additional requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that govern Third Party relationships.

 

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