Money laundering involves concealing the origin of funds and/or the identity of parties transferring or receiving them. There are many reasons why attempts at money laundering are made, most typically when the funds involved were gained unlawfully or for tax evasion purposes.
We strongly oppose money laundering and take extensive measures designed to ensure that our services are used by legitimate traders only.
Exposing, Preventing and Taking Legal Action
Our anti-money laundering policy and all its practical implications are aimed at combating money laundering by working to expose any such attempt, preventing its completion and taking legal action against the parties involved in the said attempt. As elaborated on further down, we make certain to allocate adequate resources so that no money laundering attempt can ever go unnoticed.
Advanced Security System
Our trading platforms are equipped with state of the art anti-money laundering security systems.
Traders using our services can only do so as long as their actions are financially legitimate.
The screening process all users undergo upon creating a new user account ensures that our traders are genuine individuals intent on using our online brokerage services in order to engage in legitimate trading activities using funds the origins of which are verified and traceable.
State of the art automated means embedded into our trading platforms’ software ensure that no trader is allowed to use our services while financing their trading activities with funds the origins of which are unclear.
Our team of web developers works with governmental agencies as well as with international organizations in charge of combating money laundering. The software we use is constantly updated so that we always remain one step ahead of would-be offenders.
Compliance With International Law
International law requires any commercial body involved financial transactions in which funds are transferred across borders to avoid being a party to money laundering and to report any such attempt to relevant authorities. Our compliance with such international law provisions is complete.
We go to great lengths in order to ensure that our services are not exploited for money laundering purposes. Upon the unveiling of such an attempt, we provide authorities with the notification necessary for them to take action against the parties involved.
Verifying Traders’ Identities
We take steps designed to ensure that traders using our services are genuine individuals. It is to this end that anyone creating a new trading account is required to provide proof of identification as well as documentation showing that they truly reside at the address the details of which they provide us with.
Bank Accounts and Money Transfers
Not only personal details are verified, bank account details, as well as credit card or any other, web-based, money transferring means, used also undergo a screening process. We make it impossible to use our services with a dubious bank account and refrain from processing money transfer requests when the path of funds is unclear.
Funds Deposited Into Trading Accounts
We ensure that funds deposited into trading accounts are legitimately gotten ones. In order to do so, we’ve implemented a system designed to ensure the credibility of deposits from third parties (anyone other than the individual trader registered as the trading account holder).
Records of third party deposits are kept on file. This is true for deposits made by individuals as well as ones made by corporations or any other legal entity.
Trading accounts may belong to corporations (LLCs included) which can supply all documentation required, designed to ensure legitimacy, such as the certificate of incorporation, article of incorporation, proof of address, shareholder’s certificate or any other document we request, all at our sole discretion.
Withdrawals From Trading Accounts
In order to prevent money laundering, we only process withdrawal orders when the identity of the recipient is identical to that of the account holder. Whether withdrawals are made by wire transfer or through the use of any digital money transfer means, web-based E-wallets included, the identity of the sender must coincide with that of the recipient.
Let it be known that legal action will be taken against any individual attempting to make fraudulent use of our services. Only legitimate traders may enjoy the advanced online brokerage services we offer, anyone attempting to make illegitimate use of our services will be duly prosecuted.