Anti-Money Laundering Policy

What Is Money Laundering?

Money laundering is a way to hide money obtained by illegal means, so that it appears to be legal and legitimate and the original source cannot be traced. To preserve the integrity of the financial markets and protect fellow traders, we adhere to very strict laws governing money laundering which make it illegal for us, and any of our employees or agents to knowingly engage or attempt to engage in a monetary transaction of criminally derived property. These efforts translate to increased investor protection, robust payment practices and added funds security for you.

How Do We Prevent Money Laundering?

To strike the balance between AML requirements and minimising the burden of compliance for you, we employ highly sophisticated electronic systems to verify documents, monitor transactions, and analyse the flow of funds.

Identification

The first safeguard is a proper Know-Your-Client (KYC) verification procedure. To ensure compliance with standard AML regulations, we require you to submit the following:

  • Government-issued ID containing a photo. Examples of such documents are government-issued passports, ID cards, or driver’s licenses.
  • Proof of your current residential address. This document must not be older than three months and must include your full name and residential address. Examples of such documents are bank statements, utility bills or any other bill from an internationally recognised organisation.
  • In case you transfer money to us by using your credit card, we require a copy of your credit card only displaying the last four digits.

Please note that regulatory requirements differ in certain countries and we may need to request further documentation from you.

Monitoring

We do not accept third party payments. All deposits must be made in your own name and match the registration documents submitted by you. When withdrawing money, AML regulation obliges us to return the funds to exactly the same source from which we received it. This means that if you have deposited money by bank transfer to us, your withdrawal will be sent back to exactly the same account. Equally, if you have used your credit card ending in 1234 from bank A to deposit money with us, we will return your funds to your credit card ending in 1234 from bank A. To reduce the risks of our services being used for financing terrorism and money laundering, we do not, under any circumstances, accept cash deposits or disburse cash.

Reporting

AML regulation requires us to monitor and track suspicious transactions and report such activities to the relevant law enforcement agencies. We also reserve the right to deny a transfer at any stage if we believe the transfer to be connected in any manner to criminal activity or money laundering. By law, we are prohibited from informing customers that a report concerning suspicious activity has been submitted to the enforcement agencies.