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ANTI-MONEY LAUNDERING POLICY

As an international broker providing financial services, ForexCenter is obliged to adhere to Anti-Money Laundering (AML) policies with due diligence and maintains a strong and aggressive stance to prevent such illicit laundering activities. ForexCenter has implemented rigorous policies and stringent procedures to detect, prevent, and report Money Laundering and/or any other suspicious activities. Money Laundering is a considered an internationally serious offense, and is defined as:

The conversion or transfer of property, capital or assets derived from a criminal offense for the purpose of concealing the illicit origin of the property, or assisting persons involved in the commission of such an offense to evade legal consequences of the action, concealment of the nature, source, location, disposition, movement, rights with respect to, or ownership of property, with deliberate knowledge that such property, capital or assets are derived from a criminal offense.

ForexCenter complies with the international Anti-Money Laundering laws and regulations, and will report any attempt by which a person or business conceals the origin and/or ownership of the proceeds of illegal activities, including fraud, theft, illegal gambling, drug trafficking, or other activities. Money Laundering may also involve the use of legitimately derived funds to finance terrorism.
Money laundering prevention is manifested by the need of ForexCenter to request that customers provide supporting documentation for proof of identity, and the origin of funds so that ForexCenter can determine whether the funds that we will accept are derived from legal origin.

It is important for you to understand what Money Laundering is, so that you may better understand the processes involved when ForexCenter necessitates proof of identity and supporting documentation supporting personal information or details. Money Laundering is a term that we have all encountered at one point or another, but exactly does it mean? Criminals attempt to launder their illicit funds by transferring them to the licit financial system without detection or arousing any legal attention. Once a criminal or terrorist person(s) transfers their funds into financial systems, they can transfer it between banks or financial products for use of illegal activities, goods, services or funding terrorism.

Do I have to prove my identity to ForexCenter?
Yes. As part of our strict Anti-Money Laundering Policy, ForexCenter requires that all of our customers provide proof of identity. ForexCenter carries a strong responsibility to check and make sure we know who our customers are before they even agree to open an account or make a deposit in their account.

As part of our necessity for you to prove your identity, you will be required to support that your name, personal details, locations are in fact supported with legal documentation. Furthermore, you will be required to clearly specify where your transferred funds are originating from.

ForexCenter necessitates the following documentation as proof of identity:

1. An original certified copy of ID or passport.
2. Your photograph with a personal signature.
3. On the ForexCenter Customer Agreement, you will be required to clearly indicate the beneficiary name – the account beneficiary must match the name on your customer agreement form. Any funds you wish to repatriate must be to the same account number and beneficiary name.