QFX Trade Limited Anti Money Laundering (AML) and Know Your Customer (KYC) Policy
This is the Policy of QFX Trade Limited and its affiliates to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. The Company requires its officials, workers, and partners to stick to these principles in forestalling the utilization of its items and administrations for tax evasion purposes.
For the purposes for this Policy, Money Laundering is for the most part characterized as participating in acts intended to cover or mask the genuine starting points of criminally determined continues with the goal that the unlawful returns seem to have been gotten from authentic beginnings or comprise genuine resources.
Generally, Money Laundering happens in three phases. Cash first enters the monetary framework at the “arrangement” stage, where the money created from crimes is changed over into money related instruments, for example, cash requests or secured checks, or stored into accounts at monetary foundations. At the “layering” stage, the assets are moved or moved into different records or other monetary establishments to additional different the cash from its criminal beginning. At the “mix” stage, the assets are once again introduced into the economy and used to buy real resources or to finance other crimes or genuine organizations. Psychological oppressor supporting may not include the returns of criminal lead, yet rather an endeavor to disguise the beginning or planned utilization of the assets, which will later be utilized for criminal purposes.
Every representative of the Company, whose obligations are related with the arrangement of items and administrations of the Company and who straightforwardly or by implication manages the customer base of the Company, is supposed to know the prerequisites of the pertinent regulations and guidelines which influence their work liabilities, and it will be the positive obligation of such worker to do these obligations consistently in a way that consents to the necessities of the important regulations and guidelines.
The regulations and guidelines incorporate, however not restricted to: “Client Due Diligence for Banks” (2001) and “General Guide to Account Opening and Customer Identification” (2003) of Basel Committee on Banking Supervision, Forty + nine Recommendations for Money Laundering of FATF, USA Patriot Act (2001), Prevention and Suppression of Money Laundering Activities Law (1996). To guarantee that this overall arrangement is completed, the board of the Company has laid out and keeps a continuous program to guarantee consistence with the pertinent regulations and guidelines and the counteraction of illegal tax avoidance. This program tries to organize the particular administrative necessities all through the gathering inside a merged structure to successfully deal with the gathering’s gamble of openness to tax evasion and psychological militant supporting across all specialty units, capabilities, and lawful elements. Every one of the subsidiaries of the Company is expected to conform to AML and KYC strategies. All recognizable proof reports and administration records will be saved for the base timeframe expected by neighborhood regulation. All new workers will get against illegal tax avoidance preparing as a component of the obligatory fresh recruit preparing program. All pertinent representatives are likewise expected to finish AML and KYC preparation every year. Cooperation in extra designated preparing programs is expected for all workers with everyday AML and KYC obligations.