Modern Slavery Statement
Reporting Period: 7th May 2025
This Modern Slavery Statement is made pursuant to the Australian Modern Slavery Act 2018 (Cth) and outlines the actions taken by VeloxPay Pty Ltd during the reporting period ending [Insert Date] to assess and address the risks of modern slavery within our operations and supply chains.
About VeloxPay
VeloxPay is a registered remittance service provider based in Australia. We facilitate international money transfers by acting on customer instructions to send funds overseas. We are not a financial institution; rather, we provide payment and remittance services as an intermediary between individuals and third-party financial service providers.
We operate primarily within Australia, with service partners in overseas jurisdictions where remittances are received.
Our Commitment to Combating Modern Slavery
VeloxPay is committed to upholding human rights and preventing all forms of modern slavery, including forced labour, servitude, debt bondage, and human trafficking. We recognise that, while our direct business operations present a low risk, we have a responsibility to ensure our supply chain and business practices do not contribute to or facilitate modern slavery in any form.
Our Operations and Supply Chains
VeloxPay’s operations include:
- Providing remittance services to individuals
- Maintaining IT systems for secure transaction processing
- Working with overseas payout partners to complete international payments
- Engaging professional service providers (e.g., legal, accounting, compliance)
- Using third-party providers for software, office supplies, and general services
Our supply chain includes both Australian-based and international service providers. We acknowledge that some overseas partners may operate in countries or industries with a higher inherent risk of modern slavery, especially where labour regulations are less robust.
Risk Assessment and Management
During the reporting period, we undertook an initial review of our operations and key supply chains to identify potential areas of modern slavery risk. Key observations include:
- Low risk in our direct workforce, which is employed in Australia under standard contracts
- Moderate risk in offshore remittance partners or intermediaries, especially where transparency is limited
- Potential risk in indirect suppliers (e.g., IT support, outsourced admin, or cleaning services)
To address these risks, VeloxPay has:
- Reviewed agreements with international partners to ensure compliance with ethical and human rights standards
- Developed a supplier onboarding checklist, which includes ethical considerations
- Implemented a basic internal reporting system for any concerns relating to unethical practices
Policies and Procedures
We have adopted the following measures to promote responsible practices:
- Supplier Code of Conduct – sets expectations regarding compliance with labour laws and modern slavery prohibitions
- Whistleblower Policy – provides a confidential mechanism for reporting concerns
- Employee Handbook & Code of Conduct – reinforces our commitment to ethical behaviour and respect for human rights
Training and Awareness
VeloxPay is committed to building internal awareness of modern slavery. During the reporting period:
- Staff involved in partner management and operations were briefed on modern slavery indicators
- We began planning more formalised training for staff in procurement and compliance roles
Future Actions
In the next reporting period, VeloxPay will:
- Enhance due diligence of international payout partners in higher-risk regions
- Conduct supplier risk assessments beyond Tier 1 suppliers
- Formalise a modern slavery compliance checklist for onboarding new suppliers
- Develop and publish a public-facing ethical conduct policy on our website
Consultation and Approval
This statement was developed with input from our leadership, operations, and compliance staff. It was approved by the Board of Directors of VeloxPay Pty Ltd on 7th May 2025.
Signed:
Md Riaj Uddin
Director
VeloxPay Pty. Ltd.
Date: 7th May 2025