AML/CTF POLICY - Uniglobe Markets

AML/CTF POLICY

AML/CTF POLICY

Uniglobe Markets is committed to the highest standards of the Anti-Money Laundering (AML) compliance and Counter-Terrorism Financing (CTF). Being a foreign exchange, precious metals and CFD broker that provides a premium experience for all market traders worldwide, we must ensure that our company fights any act of money laundering, preventing the financing of terrorism, and enforcing internal and external measures deemed necessary to combat money laundering.

Uniglobe Markets adheres to the principles of Anti-Money Laundering and actively prevents any actions that aim or facilitate the process of legalizing of illegally gained funds. AML policy means preventing the use of the company’s services by criminals, with the aim of money laundering, terrorist financing or other criminal activity.

Purpose

This policy is set out to prevent money laundering and to combat Terrorist Financing. Therefore Uniglobe Markets will not accept or engage into any involvement with clients that have suspicious activities, crimes and fraudulent transactions.

Uniglobe Markets will only accept clients and affiliates that have a legitimate source of funds and valid identification requirements. The company reserves the right to suspend any client’s operation, which can be regarded as illegal or, may be related to money laundering in the opinion of the staff.

Scope Of Policy

This policy is set out and will be observed by the following:

  1. Employees
  2. Members and Affiliates
  3. Partners

If the aforementioned has not given due diligence in client acceptance, Uniglobe Markets will impose warning and sanctions varying the negligence thereof.

Uniglobe Markets has developed internal Anti-Money laundering and Counter-Terrorism Policy (hereinafter – AML Policy) based on the risk assessment, so the objectives of the AML/CFT Laws can be achieved. These are:

  1. To detect and deter money laundering and financing of terrorism;
  2. To maintain and enhance Uniglobe Markets’s international reputation by adopting, where appropriate, recommendations issued by the Financial Action Task Force on Money Laundering
  3. To contribute to public confidence in the financial system.

Clients Responsibility
By applying for an account with Uniglobe Markets you are taken to agree to the following terms:

  1. you warrant that you comply with all applicable anti-money laundering laws and regulations, including but not limited to the AML/CTF laws and associated rules and regulations (in force from time to time);
  2. You are not aware and have no reason to suspect that:
    1. the money used to fund your deposit in your account has been, or will be, derived from or related to any money laundering or other activities deemed illegal under applicable laws or regulations or otherwise prohibited under any international convention or agreement (“illegal activities”); or
    2. the proceeds of your investment in the Fund will be used to finance illegal activities; and
  3. you agree to promptly provide us with all information that we reasonably request in order to comply with all applicable laws and regulations relating to anti-money laundering;

Clients Procedures

Uniglobe Markets will make sure that it is dealing with a real person or legal entity. Uniglobe Markets also performs all the required measures in accordance with applicable law and regulations, issued by monetary authorities. The AML policy is being fulfilled within Uniglobe Markets by means of the following:

  1. know your customer policy and due diligence
  2. monitoring of client activity
  3. record keeping

Know your client and due diligence

Because of the company’s commitment to the AML and KYC policies, each client of the company has to finish a verification procedure. Before Uniglobe Markets starts any cooperation with the client, the company ensures that satisfactory evidence is produced or such other measures that will produce satisfactory evidence of the identity of any customer or counterparty are taken. The company as well applies heightened scrutiny to clients, who are residents of other countries, identified by credible sources as countries, having inadequate AML standards or that may represent a high risk for crime and corruption and to beneficial owners who resides in and whose funds are sourced from named countries.

Individual Clients 

During the process of registration, each client provides personal information, specifically: full name; date of birth; country of origin; and complete residential address. The following documents are required in order to verify the personal information: A client sends the following documents (in case the documents are written in non-Latin characters: to avoid any delays in the verification process, it is necessary to provide a notarized translation of the document in English) because of the requirements of KYC and to confirm the indicated information:

  1. Current valid passport (showing the first page of the local or international passport, where the photo and the signature are clearly visible); or
  2. Driving licence which bears a photograph; or
  3. National identity card (showing both front and back pages);
  4. Documents proving current permanent address (such as utility bills, bank statements, etc.) containing the client’s full name and place of residence. These documents should not be older than 3 months from the date of filing.

Corporate Clients 

In case the applicant company is listed on a recognised or approved stock exchange or when there is independent evidence to show that the applicant is a wholly owned subsidiary or a subsidiary under the control of such a company, no further steps to verify identity will normally be required. In case the company is unquoted and none of the principal directors or shareholders already has an account with Uniglobe Markets, the following documentations must be provided:

  1. Certificate of Incorporation or any national equivalent;
  2. Memorandum and Articles of Association and statutory statement or any national equivalent;
  3. Certificate of good standing or other proof of registered address of the company;
  4. Resolution of the board of directors to open an account and confer authority on those who will operate it;
  5. Copies of powers of attorney or other authorities given by the directors in relation to the company;
  6. Proof of identity of directors in case he/she will deal with Uniglobe Markets on behalf of the Customer (according to the Individual identity verification rules described above);
  7. Proof of identity of the beneficial owner(s) and/or the person(s) on whose instructions the signatories on the account are empowered to act (according to the Individual identity verification rules described above).

Monitoring Of Activities

In addition to gathering information from the clients, Uniglobe Markets continues to monitor the activity of every client to identify and prevent any suspicious transactions. In cases of an attempt to execute transactions which Uniglobe Markets suspects that are related to money laundering or other criminal activity, it will proceed in accordance with the applicable law and report suspicious activity to regulating authority.

Uniglobe Markets reserves the right to suspend any client’s operation, which can be regarded as illegal or may be related to money laundering in the opinion of the staff. Uniglobe Markets has complete discretion to temporarily block the suspicious client account or terminate an existing client relationship.

Deposit and Withdrawals Requirements

All deposits and withdrawals on trading accounts held with Uniglobe Markets the following strict requirements:

  1. Due to AML / CTF laws, Uniglobe Markets cannot receive or deposit funds to third parties.
  2. Funds sent to Uniglobe Markets must be from a bank account, Credit/Debit card or Alternative Payment Method (Skrill, Neteller, Perfect Money, CashU or others) under the same name as the trading account name with Uniglobe Markets.
  3. All funds withdrawn from a trading account must go to a bank account, Credit/Debit card or Alternative Payment Method (Skrill, Neteller, Perfect Money, CashU or others) under the same name as the trading account name with Uniglobe Markets.
  4. All withdrawal requests are processed on First-in-First-Out basis according to the funding source of origination. For example, a deposit is made via Debit/Credit Card; then a subsequent withdrawal request is received. The amount of funds sent back to the relevant Debit/Credit Card, when a withdrawal request is received, may not exceed the original amount deposited from same. Any profits made in excess of the deposited amount will be transferred to a nominated bank account; which must be held in the same name as your trading account.
  5. If a trading account was credited in a way that cannot be used for funds withdrawal, the funds may be withdrawn to a bank account under the same name as the trading account name with Uniglobe Markets as long as the client provides satisfactory evidence of the ownership of bank account where the funds originated from as well as the destination bank account.

Periodical Review

Uniglobe Markets will conduct a periodic review set out in this policy, whether changes are needed to be done to improve the policies set herewith.

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