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The phrase money-laundering refers to the act of moving money in various transactions in order to hide its source, its destination and who the original owner is. It is mostly done when the money has been obtained through unlawful means. Simply put, money launderers try to make money obtained illegally appear to be legal. Our business is fully dedicated to obstructing any such acts of money-laundering and other related illegal matters.
One of our objectives is to provide a secured system against money-laundering while ensuring that any clients who are potentially engaging in such activities will be exposed. Furthermore, we aim to make the entire trading process safer for our law-abiding clients and will do anything in our power to combat money-laundering. We are proud to state that we work in full cooperation with our client’s local government and law enforcement agencies ensuring safe practices. That is why we have created a state-of-the-art security system that checks all customer credentials while storing in-depth logs of all of our transactions.
It is our duty to inform the authorities of any transactions that appear to be dubious. If you are not using our services for their stated purpose exclusively, you and any related parties could face legal ramifications.
In an effort to counter money laundering and other illegal activity, we have decided not to support any cash transactions, regardless of their stated purpose. Our firm has the right to cancel or deny a transaction at any point if there are suspicions regarding its legality. The firm is under no obligation to notify the customer that it has contacted the appropriate legal authorities regarding a dubious transaction.
We have created a policy of compliance for the purpose of meeting all lawful criteria regarding money-laundering. The policy refers to the election of officers in charge of compliance, creating new policies and making sure that they are properly implemented.
We constantly update our system, execute routine maintenance checks for any dubious transactions and verify all customer credentials while implementing any regulatory changes that might be necessary. Furthermore, our team has received the necessary training with regards to any and all measures with regards to countering money-laundering activity.
When a deposit is being made, the name of the person making the deposit should be the same as the name of the recipient in our database. Money transfers from another person or party are strictly prohibited. Furthermore, we will refuse any third party checks that have not been verified by a managing officer.
Likewise, when a withdrawal is made, the recipient’s name should be identical to that of the account holder. A wire transfer can only be made from and to the same bank. Additionally, the names of the sender and recipient should match. In cases of withdrawals being executed using an online payment method, it should be made to an account with matching credentials exclusively.
