AML/CFP Policy

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AML/CFP Policy

Trader House is proud to support the battle against money laundering and has a zero tolerance policy. Trader House follows the guidelines set by MONEYVAL (Committee of Experts on the Evaluation of Anti-Money Laundering Measures). MONEYVAL is a permanent monitoring mechanism of the Council of Europe, a pan-European organisation with 47 member states, reporting directly to its principal organ, the Committee of Ministers. MONEYVAL is entrusted with the task of assessing compliance with the principal international standards to counter money laundering and the financing of terrorism and the effectiveness of their implementation, as well as with the task of making recommendations to national authorities in respect of necessary improvements to their systems. MONEYVAL also conducts thematic typologies research of money laundering and terrorist financing methods, trends and techniques. MONEYVAL was originally an observer to the FATF and from June 2006 became an associate member. Trader house supports these efforts with the following policies which are detailed below.

OUR POLICIES:

  • Collecting and maintaining records of client information and valid proof of identification.
  • Establishing that clients are not known or suspected to be involved in terrorism or related activites.
  • Ensuring that clients are informed that any information they provide can be used for identity verification.
  • Monitoring clients’ financial transactions.
  • Not accepting funds as cash, money orders, third-party transactions, exchange house transfers or Western Union transfers.

When funds from a non-legitimate source, such as illegal or criminal activities, are moved through financial systems in such a way as to appear that they originated from a legitimate source.

MONEY LAUNDERING GENERALLY FOLLOWS THESE STAGES:

Cash or cash equivalents are entered into the financial system, the funds are then transferred or moved around through other accounts (e.g. futures accounts). This series of financial transactions is intended to conceal the origin of the money (e.g. executing trades with little to no risk or transferring balances between accounts). The funds can then be reintroduced into the economy appearing to originate from legitimate sources (e.g. closing a futures account and then transferring those funds to a bank account). Trading accounts can be used in the laundering of illicit funds and to obscure the real origin of the funds. In particular, trading accounts allow financial transactions to be executed which will further conceal the actual origin of the funds.

As a preventative measure, withdrawal of funds will be directed back to the original source of remittance by Trader House. Financial services institutions are required by International Anti Money Laundering Laws to be aware of potential money laundering abuses that could occur on customer accounts, as well as to implement a compliance program in order to detect, deter and report suspicious activity. The guidelines have been implemented to protect both Trader House and its clients. If you have any questions or concerns regarding these guidelines, don’t hesitate to contact us at [email protected]

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