UnitedFXA

AML Policy

Introduction


United FXA is committed to preventing money laundering and terrorist financing in accordance with international regulations. Our Anti-Money Laundering (AML) Policy outlines the procedures and controls we have in place to detect, prevent, and report suspicious activities. We take our legal and ethical obligations seriously to protect the integrity of our platform and ensure a secure trading environment.

  1. Customer Due Diligence (CDD)
  • Verification of Identity: We require all clients to provide valid identification documents, including a government-issued ID and proof of address, to verify their identity.
  • Know Your Customer (KYC): As part of our KYC process, we collect information about the client’s financial background, source of funds, and trading experience to assess the risk profile.
  • Ongoing Monitoring: We continuously monitor client transactions and activities to identify any unusual patterns that may indicate money laundering or fraudulent behavior.
  1. Record Keeping
  • Documentation: United FXA maintains detailed records of all client information, transactions, and communications for a minimum period required by law.
  • Transaction Records: We keep records of all deposits, withdrawals, and trades, including the amount, date, and counterparties involved.
  • Audit Trails: Our system automatically generates audit trails for all account activities, ensuring transparency and traceability.
  1. Reporting Suspicious Activities
  • Internal Reporting: Employees are trained to recognize and report suspicious activities to our AML Compliance Officer (AMLCO) immediately.
  • External Reporting: If deemed necessary, United FXA will report suspicious transactions to relevant financial authorities, in compliance with regulatory requirements.
  • Confidentiality: All reports are treated with strict confidentiality, and the reporting party is protected from any legal repercussions.
  1. Risk Assessment
  • Risk-Based Approach: United FXA adopts a risk-based approach to AML, where clients are categorized based on their risk levels, and enhanced due diligence is applied to higher-risk clients.
  • High-Risk Countries: We maintain a list of high-risk countries with stringent controls for clients from these jurisdictions, including additional verification measures.
  • Enhanced Due Diligence (EDD): For clients or transactions identified as high-risk, we implement EDD procedures, such as obtaining additional documentation or verifying the source of funds.
  1. Employee Training
  • Regular Training: All employees undergo regular training on AML policies, including how to identify and report suspicious activities.
  • Compliance Awareness: Our training programs emphasize the importance of compliance and the role each employee plays in preventing money laundering.
  • Updates and Refreshers: Employees are regularly updated on changes to AML regulations and best practices, ensuring our team remains informed and vigilant.
  1. Sanctions and Blacklists
  • Sanctions Compliance: United FXA complies with international sanctions regimes and does not engage in business with individuals or entities listed on sanctions lists.
  • PEP Monitoring: We identify and monitor Politically Exposed Persons (PEPs) to prevent the misuse of our platform for illicit purposes.
  • Restricted Countries: We do not accept clients from countries subject to international sanctions or those identified as high-risk for money laundering.
  1. Review and Amendments
  • Policy Review: Our AML Policy is reviewed and updated regularly to ensure compliance with the latest regulatory requirements and industry best practices.
  • Continuous Improvement: We continuously improve our AML controls and procedures to address emerging threats and vulnerabilities.
  1. Compliance Responsibility
  • AML Compliance Officer: The AMLCO is responsible for overseeing the implementation of the AML Policy, including client verification, transaction monitoring, and reporting of suspicious activities.
  • Board Oversight: The Board of Directors oversees AML compliance efforts and ensures that adequate resources are allocated to maintain an effective AML program.
  1. Cooperation with Authorities
  • Regulatory Cooperation: United FXA cooperates fully with regulatory authorities in investigations related to money laundering, terrorism financing, or other financial crimes.
  • Legal Obligations: We comply with all legal requirements, including the provision of client information and transaction records when requested by authorized entities.
  1. Contact Information If you have any questions about our AML Policy or require additional information, please contact our AML Compliance Officer at support@unitedfxa.com or +44123456789.