The anti-money laundering (AML) policy of the Company is aimed at fulfilling the requirements of the rules and regulations that are internationally acceptable in the western world. The purpose is to ensure that our business is not used to facilitate money laundering and to comply with all applicable laws. The Company has zero tolerance policy for money laundering activities. The Company takes AML very seriously and any deviance from our practices will result in immediate action. The Company reserve the right to refund, deny or withhold any deposit made against this policy, or is suspected according to the applicable law, to be AML related (such as transfer to or from a suspected jurisdiction etc.).
Identification and Verification of New Customers, Deposits, Transfers and Withdrawals In order to open up an account with The Company, the client must submit the following: Surname, First Name, National I/D or Passport Number, Address, E-mail, Telephone. The client must also send a copy of his National I/D, the National I/D is recognized in his country as the number one form of identification above all other. The National I/D contains the following: A photo of the holder, the national I/D number, the holders full name, the holder's father's first name, the holder’s mother's first name, The holders Nationality and Place of Birth, the holder's date of birth, the holder's place of birth, the holder's sex, the holder's address, the holder’s marital status, the holder's spouse’s details such as their National I/D number.
Further details and checks are performed upon a Customer Depositing Funds. All accounts opened must be in the same name as the founder of the account. No third party funding will be accepted by The Company. Verification against Credit Card slips or details supplied by The Company's Credit Card holders and/or verification against bank transfers from clients after a transfer and/or verification against actual cheque’s will be cross checked against details already supplied by the customer. Only upon verification will the account be opened. Any discrepancy will not be tolerated and funds will be returned to sender in the same way that they were sent. Credit Card deposits will be subject to our credit card clearing company’s fraud and anti-money laundering procedures. All client withdrawals will be only being permitted to exactly the same account and exactly the same name from which original customer funds were received. There will be no third party transfers.
The funds will also be transferred in exactly the same way of the original funding of the account. For instance, withdrawals requested by a customer that transferred his original deposit via Credit Card will receive his/her funds as a refund from his credit card, up to the maximum of his deposit. Repeat credit card depositors or client depositing over $5,000 in total deposits will be met with one of The Company's sales team face to face, and have their credit cards authorized on the spot via a mobile swipe. Withdrawals will only take place after written and signed requests and copies identifying the bank account as the clients and corresponding to previously received documentation. The Company will at its own discretion ask for further proof of identification should for any reason the Company employees suspicions arise.
Suspicious activity such as the method of deposit, suspicious circumstances such number of transfers will be monitored. Verification will be performed at the account opening or within a reasonable time after opening of the account. The methods will include document and non-document methods. In circumstances where The Company cannot form a reasonable belief on the customer's identity the account will not be opened. The Company customer account system does not allow for account opening unless verification has been done as per company policy. Records will be maintained for 5 years of all identifying documents obtained from a customer – either a copy or a description of the document used to verify identification. Also to be kept will be any document which resolves any discrepancy discovered recording the identity.
Detecting and Reporting Suspicious Activity: Regarding high risk accounts appropriate extra due diligence procedures will be taken i.e. further documents, phone calls or meeting face to face with clients, bank references and certification of certain documents. When deemed necessary we will perform additional monitoring of specific account activities. We maintain systems and procedures to detect and require reporting of suspicious activity.