Anti Money Laundering Policy
SandStoneFX.com does not tolerate money laundering and supports the fight against money launderers.
We have policies in place to deter people from laundering money. These policies include:
– ensuring clients have valid proof of identification – national ID card, international passport, valid proof of address like utility bill
– 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.
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.
SandStoneFX.com direct funds withdrawals/refunds 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 SandStoneFX.com and its clients. For questions/comments regarding these guidelines, contact us via the contact form at the website.
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Investments can fall and rise. You may get back less than you invested. Past performance is no guarantee of future results. Tax treatment depends on your individual circumstances and may be subject to change. CFDs are complex instruments and carry a risk of losing money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. More about our Risk notice.
Ever Financial Global Limited is registered in the Republic of Mauritius, with corporation number C179787, holder of an Investment Dealer license under Section 29 of the Securities Act 2005, having its registered address at: 11th floor, Tower 1, NeXTeracom building, Cybercity, Ebene, 72201, Mauritius.
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