Anti-Money Laundering Policy
Money laundering is the act of engaging in financial transactions that convert money obtained from illegal activities into money that appears to have been obtained through legal means. The purpose of this law is to hide the illegal identity of any monetary product, including cash amounts. That is why it is illegal under national and international laws to knowingly or recklessly engage in any activity involving Genie Bot Forex and its employees illegally acquired capital.
General Terms
This document is in accordance with the anti-money laundering policy of Genie Bot Forex (hereafter referred to as the Company) and all statements relating to the potential use of Company products and services for money laundering, terrorist financing and financing purposes. Describes what is involved in detecting and preventing activity. - Laundry (hereinafter AML Policy)
Criminal Proceeds Laundering – The act of converting funds derived from criminal activity or other cash and credit instruments into seemingly legitimate funds or investments so that their illegal origins cannot be traced. National and international laws that apply to companies that allow customers to deposit and withdraw funds from their accounts make it illegal for a company's partners to knowingly conduct or engage in financial transactions with criminalized fiat funds.
The purpose of the anti-money laundering process is to ensure that customers engaging in financial transactions with the participation of company sites are identified on a reasonable basis with a minimal set of identity data for law-abiding customers. that is guaranteed. The company has developed internal anti-money laundering and anti-terrorism financing in accordance with international legal requirements. The company carefully monitors suspicious behavior and transactions and reports such behavior to the appropriate authorities in a timely manner.
To minimize the risk of money laundering and terrorist financing, the company accepts no cash for deposits and under no circumstances will it pay in cash. The Company reserves the right to waive transaction processing at any stage if it determines that the transaction is related to money laundering or criminal activity. Under international law, the Company does not have the authority to inform the customer that the customer's criminal activity has been reported to the relevant authorities.
ID
The minimum required identity data set required to open a real trading account is:
-Name (last name, first name and patron name)
-Registration and financial email
-Address of customer's residence or business
- phone number
To enforce anti-money laundering laws, companies may require customers to present two documents confirming their identity.
The first document a company may request is an unexpired photo ID of the customer issued by the competent government. This can be a passport, driver's license (in countries where a driver's license is the default identification) or local identification (except for in-house access cards). Another document that the company may request is an invoice less than three months old that includes the customer's full name and physical address. It could be a bill for housing services, a bank statement, or other document confirming the customer's address. In some cases, the company may require the customer to present a notarized copy of the document.
Documents written in languages other than English must be translated into English by an sworn translator.
Translations must be typed and signed by the translator and sent along with a copy of the original document with a clear picture of the client.
Account deposit, fund withdrawal
The company requires during replenishment that the sender's name completely matches the name specified during account registration (if the payment system provides the sender's name). Acceptance of payments from third parties is prohibited.
Company reserves the right to require strict adherence to generally agreed upon replenishment and withdrawal procedures. Money can be withdrawn to the same account in the same way the replenishment was made. While withdrawing funds, the recipient's name must strictly match the customer's name in the company database.
If replenishment is via bank transfer, funds may only be withdrawn via bank transfer to the same bank and account where the replenishment was made. If the replenishment was carried out through an electronic payment system, funds can be withdrawn through the same system and electronic payment to the account on which the replenishment was carried out.
The Company, in its sole discretion, may only use the Company's clients for the purpose of operating transactions to generate profits within the scope of the services provided by the Company in order to comply with anti-money laundering policies. We declare that transfers of funds are allowed.
If the company has good reason to believe that the account holder is using the money transfer for a purpose other than the services provided by the company, in violation of laws and regulations and the company's anti-money laundering policy; may close the trading account and the client's personal account for conducting transactions on this personal account.
For further questions, please email amlpolicy@gb-fx.com
