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Staying Secure: Protecting Your Funds with ACE Money Transfer's Best Practices for Remittances to Senegal from Australia.

Staying Secure: Protecting Your Funds with ACE Money Transfer's Best Practices for Remittances to Senegal from Australia.

03 Oct 2023

Senegal is one of the low to middle-income countries. The GDP of such countries depends highly on the remittance inflows. Broadly, around 4% - 5% of its total population live in foreign countries, out of which several have moved to Australia. Many Senegalese expats send money to Senegal from Australia who work and earn there. The advancements in the digital remittance industry have greatly benefitted in helping countries' economic growth. But with the vastness of the field, some fraudulent remittance service providers have also entered the market. ACE Money Transfer has provided its best features so people can send money to Senegal safely and with 100% security.  

Do you know that according to research, more than 2 billion people digitally transfer money through money transfer apps? 

Another dangerous fact is that due to fraud in digital remittances, financial crimes are the fastest-growing global trend. ACE Money Transfer, a leading remittance service provider platform, has devised several ways to deal with the hot crises. This article covers how you can send money to Senegal via ACE Money Transfer without any worries.

Common Frauds Associated with Remittance Transfers in Senegal 

Senegalese expats are also at the risk of money transfer fraud as expats from many other countries. It is better to be aware of fraud before sending money to Senegal so that you can complete your transaction securely. The following are some of the most critical and common frauds that you must be aware of and guard yourself against.

Phishing Scams

It is the most common way of scamming people. Phishing involves emails or texts from some company or the bank you are using. It demands sensitive information like your PIN cards and financial and personal information. It is easy to detect phishing scams when you see something unusual. If you are uncertain about any email, make sure to double-check the identity of the sender before sharing your information. 

Unreliable and Fake Remittance Service Providers

So many fraudulent and unreliable money transfer companies have entered the market since the popularity of money transfers. These service providers will not complete your money transfers and steal your money. In some cases, due to negligence and glitches, they mix senders and receivers and send it to the wrong person. 

To avoid this disturbance, make sure to choose a platform that is reliable enough and has the best services for its customers. ACE Money Transfer is one of the most credible and secure platforms to make a safe and protected money transfer from Australia to Senegal with complete peace of mind.

Currency Exchange Rate Fraud

Sometimes, while doing a money transfer to Senegal, you might come up with a link or ad showing an exchange rate that seems too good to be true. Well, never fall for that trap. Cyber scammers use these techniques to attract customers. People are scammed very easily due to the thirst for low transaction fees. 

When they send money to Senegal, they find out that their money transfer was never completed, and they lose all their money. To protect yourself from this scam, you should understand exchange rates in 2023 and how to get the best deal.

ACE Money Transfer's Best Practices for Remittances to Senegal from Australia

ACE Money Transfer offers top-notch security strategies to help you with your money transfers. 

Verifying Identities of Senders and Receivers 

ACE Money Transfer has a system of advanced verification. In remittance transfers, the most important thing is to verify the identities of the sender and receiver because that is where any fraudulent activity is started.

ACE Money Transfer has tools and technologies that verify the identities of both sides before the transaction. It has collaborated with the world’s top verification companies for this process. Verification of identities before transaction makes it secure and prevents any fraudulent activity like identity theft. 

A Multi-Factor Authentication System

ACE Money Transfer has staged in its services the system of multi-factor authentication (MFA) to increase the security of remittance transactions. MFA is a feature that allows two-fold security to your funds because the scammer has to go through multiple gates to crack up the security. Only authorised and registered users will have access to funds and money transfers. 

ACE Money transfer has made the process of money transfers very reliable for people. Now, they can send money to Senegal online from Australia without any risk through ACE’s end-to-end encrypted processing. 

Provides Secure Encryptions

ACE Money Transfer provides secure encryptions to protect its users' sensitive information. All the information is recorded in the form of codes that cannot be cracked and can only be decoded by authorised people. Due to this, the financial and personal information of the clients is safe and sound. 

Placement of Fraud Detection Technologies

Fraudulent activities, scams, and cyberattacks are quite common in the area of finance. ACE Money Transfer has placed fraud detection technologies in its systems that signal immediately when anything unusual happens. These technologies are able to detect almost every kind of strange activity, which involves phishing attacks, identity theft, unauthorised usage of accounts, etc., So if any money transfer to Senegal is being done without your authorisation, it will be detected in less than a second.  

24/7 Surveillance

ACE Money Transfer has a team of seasoned security experts who work around the clock and keep a keen eye on all the transactions. They keep monitoring who is sending and receiving money 24/7. They immediately report if any unusual or suspicious activity is performed. This way, the company is able to stop the fraudulent activity immediately. 

Bottom Line

Remittance fraud is a major source of worry for people and families who rely on money transfers to support their loved ones in Senegal. People may be in danger of losing their hard-earned money to scammers and fraudsters due to the high cost of sending money and the lack of transparency in some transfer services.

But you can protect your funds with ACE Money Transfer’s best practices for online money transfers to Senegal from Australia. Being a reliable service provider, ACE is dedicated to assisting its clients in sending money securely to their family members. ACE aims to give its customers more peace of mind and guarantee that their money reaches its intended recipients by introducing improved security measures and fraud prevention strategies. Sign up on ACE for free to send money to Senegal with equal ease.


What is ACE in remittance?

ACE Money Transfer provides remittance services from 28 sending countries to over 100 receiving countries. Over one million customers rely on its platform's efficiency, security, and speed to send funds to friends and family worldwide.

How safe is ACE Money Transfer?

ACE Money Transfer is fully regulated, so your hard-earned money is safe, secure, and transmitted easily. The company has the best features that protect the privacy of users and transfer their funds to recipients in full 3D security. 

What is the safest way to send money and be protected?

There are safer, faster, or cheaper ways than the traditional method you have come to rely on. You can send money online from one account to another, write a personal check, get a cashier's check, send a money order, or use a wire transfer.

What is the processing of remittance?

When executing a remittance, funds of the remittance amount must be present in the sender's bank account. After the transaction has been issued, the funds will be transmitted to the recipient's bank for processing. Once the money is at the bank, a foreign exchange rate and banking fee are applied.

How do I protect my bank transfer?

You can protect your bank transfers by verifying payment details. To prevent such errors, it is essential to double-check the recipient's account number and sort code before sending the payment. One way to verify the payment details is to ask the recipient to provide you with a voided check or a bank statement.

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