Anti-Money Laundering Policy
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Anti-Money Laundering Policy

 

TradeGF ™ does not tolerate money laundering and supports the fight against money launderers. TradeGF ™ follows the guidelines set by the UK’s Joint Money Laundering Steering Group. The UK is a full member of the Financial Action Task Force (FATF), the intergovernmental body whose purpose is to combat money laundering and terrorist financing.

TradeGF ™ now has policies in place to deter people from laundering money. These policies include:

  • Ensuring clients have valid proof of identification
  • Maintaining records of identification information
  • Determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists
  • Informing clients that the information they provide may be used to verify their identity
  • Closely following clients’ money transactions
  • Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.

Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system in such a way as to make it appear that the funds have come from legitimate sources.

Money Laundering usually follows three stages:

  • Firstly, cash or cash equivalents are placed into the financial system
  • Secondly, money is transferred or moved to other accounts (e.g. futures accounts) through a series of financial transactions designed to obscure the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts)
  • And finally, the funds are re-introduced into the economy so that the funds appear to have come from legitimate sources (e.g. closing a futures account and transferring the funds to a bank account).

Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. In particular, a trading account can be used to execute financial transactions that help obscure the origins of the funds.

TradeGF ™ directs funds withdrawals back to the original source of remittance, as a preventative measure.

International Anti-Money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account and implement a compliance program to deter, detect and report potential suspicious activity.

These guidelines have been implemented to protect TradeGF ™ and its clients.

For questions/comments regarding these guidelines, please contact us at [email protected]