Interactive Portal adheres to the highest standards in combating money laundering (AML) and financial terrorism and requires that company management and employees follow these standards. Money laundering is the process of converting funds derived from illegal activities (fraud, corruption, terrorism, etc.) into other funds or investments that look legitimate to hide or distort the actual sources of funds.
The process of money laundering can be divided into 3 consecutive stages:
- Accommodation At this stage, funds are converted to other financial instruments such as checks, bank accounts, money transfers, or they can be used to purchase expensive items that can be resold. They can also be invested in banks and non-banking institutions (for example, currency exchange offices). To avoid suspicion on the part of the company, a person laundering money may spend several investments instead of investing the entire amount at once. This form of placement is called "smarfing" or spraying.
- Splitting up. Funds are transferred or transferred to other accounts and other financial instruments. This is done in order to hide the origin and prevent the identification of the person who conducted several financial transactions. Moving and changing the form of funds complicates the process of tracking laundered money.
- Integration. The funds are returned to circulation as legally received for the purchase of goods and services.
Interactive Portal , like most organizations providing services in the financial market, adheres to the principles of combating money laundering (AML) and actively impedes any actions aimed at or facilitating the process of money laundering. The AML (Anti Money Laundering) policy implies the prevention of the use of company services by criminal entities for the purpose of laundering money, financing terrorism or other criminal activities.
To this end, the company has implemented a strict policy for the detection, prevention and notification of all suspicious transactions to the relevant authorities. At the same time,Interactive Portal has no right to inform its client that law enforcement agencies have been notified of its activities. Also, a complex electronic identification system for each client of the company was implemented and a detailed history was introduced for all operations.
In order to prevent money laundering Interactive Portal does not under any circumstances accept or pay cash. The company reserves the right to suspend any client operation that may be considered illegal or, according to employees, may be related to money laundering.
Company Procedures Interactive Portal must ensure that it works with a real person or entity. We carry out all necessary measures in accordance with applicable laws and regulations that were introduced by the monetary authorities. AML policy is implemented by:
- Know Your Customer and Due Diligence policies;
- monitoring customer activity;
- record keeping.
Politics Know Your Client and Due Diligence
Since the company is committed to AML and KYC policies, each client of the company must go through a verification procedure. Before starting any work with clients, Interactive Portal makes sure that companies will provide evidence or take steps to provide evidence to prove the identity of any client or counterparty. The company also pays special attention to customers who are residents of countries recognized as reliable sources as countries with insufficient AML and are more dangerous due to crime and corruption, as well as to beneficiaries and funds coming from these countries.
During the registration process, each client provides his personal information, namely: full name, date of birth, nationality, full address, including phone number and area code. The client, who is an individual, sends the following documents (if the documents are not written in Latin letters, in order to avoid delays in the verification process, you must provide a notarized translation of the document into English) in accordance with the requirements of KYC and to confirm the specified information:
- A copy of the first page of a local or foreign passport in good quality, which clearly shows the photo and signature. Or a copy of a driver's license that meets the same requirements. These documents must be valid for at least 6 months from the date of submission.
- A copy of the receipt of payment for utilities or a bank statement in good quality, containing the full name of the client and the actual place of residence. These documents must be no older than 3 months from the date of submission for consideration. For citizens of CIS countries, it is possible to send a copy of the passport page with the address of registration, in case of coincidence with the place of residence, and send a copy of the first page of the passport.
If the applicant company is on the list of officially recognized stock exchanges, or if there is evidence that the applicant is a branch or subsidiary of such a company, then no further action is usually required to verify the identity. If the company is unquoted and neither the chief directors nor the shareholders of the company have open accounts with Interactive Portal, the official representative must provide the following documents in accordance with the requirements of the KYC:
- Copy of certificate of registration / certificate.
- Extracts from the trade register, or an equivalent document confirming the registration of corporate acts and amendments.
- The names and addresses of all officers, directors and actual owners of the legal entity.
- A copy of the memorandum and articles of association of a company or equivalent document duly registered in the relevant registry.
- Confirmation of the legal address of the company; list of shareholders and directors.
- Description of the company and its scope of activities (including the date of opening a business, the products or services provided; the location of the main business).
This procedure is carried out to establish the identity of the client and to help JustForex find out / understand clients and their financial transactions in order to provide the best online trading services.
In addition to collecting customer information, Interactive Portal continues to monitor each customer’s activities in order to detect and prevent any suspicious transactions. A suspicious operation is an operation that contradicts the client’s legitimate business or its usual history of operations in accordance with the monitoring of the client’s activities. We have implemented a monitoring system for these operations (both automatic and, if necessary, manual) in order to prevent criminals from using the company's services.
Deposit and withdrawal
All customer operations for depositing and withdrawing funds from a personal trading account must meet the following requirements:
- In the case of a bank transfer or a transfer from a bank card, the name indicated when registering an account must match the name of the account holder / payment card.
- It is possible to withdraw funds from a trading account in a way different from the method of replenishment only after the withdrawal of an amount equal to the amount of the customer’s deposits in the same way to the same account from which the deposit was made.
- In the case of account replenishment in a way by which withdrawal is not possible, funds are withdrawn to the Client’s bank account, or by other means agreed with the Company, by which you can reliably identify the account holder.
- When replenishing an account in various ways, withdrawals are carried out in the same ways in proportion to the amount of deposits.
- In the case of replenishment using Visa / MasterCard, Wire Transfer, ePayments, withdrawal of funds in excess of the amount of customer deposits is possible in any of these ways: Visa / MasterCard, Wire Transfer, ePayments. In the case of replenishment in another way, the withdrawal of funds in excess of the amount of customer deposits is allowed in any available way to the customer’s choice. "