FICA (AML) Policy2018-09-11T17:40:57+00:00

FICA (AML) POLICY

Anti Money Laundering AML Policy

The Company collects and verifies the personal identification data of our account holders, while logging and tracking itemized statements of all the transactions that are carried out by our clients. Prior to opening an active live trading account the company requests from all clients a valid form of government-issued identification (Driver’s License, State ID, or Passport), and a proof of residence along with your completed account application.

  • The company performs its actions on the basis of the anti-money laundering requirements framework set forth by the Financial Action Task Force.
  • The company will not activate any client account prior to the necessary verification by the compliance department.
  • The company will not accept third-party deposits of any kind.
  • The company matches each deposit to the account holder’s name and identification documents on file for that particular account holder.
  • In accordance with the law and international regulation the company reserves the right to refuse processing a transaction at any stage where it believes the transaction to be connected to illegal and or criminal activities.

Funds Withdrawal Procedures

The withdrawal process of funds is structured around regulatory guidelines to make sure that funds are securely and safely sent back to their originating source.

  • Existing clients must complete a signed document or digital withdrawal request containing their correct account information and the requested amount.
  • The withdrawal request by the existing client is submitted to the accounting and for processing. The accounting department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request.
  • Withdrawal requests approved by the accounting department and following verification the funds will released to the client with immediate effect.

If a withdrawal is flagged for suspicious activity, the withdrawal is placed on hold, pending further investigation by the management and the accounting department.

Compliance Summary

No substitutions or modifications will be accepted to the above requirements; Compliance department reserves the final determination regarding the validity of the account holder’s documents.
The company is committed to regularly update its electronic system for inspection of suspicious transactions and for verification of client identification records, in accordance with Anti Money Laundering AML regulations as they are promulgated, as well as providing training for its employees and staff on enhancements to anti-money laundering procedures that may be required by new regulations.