Tradecoin24 does not tolerate money laundering and is committed to combating money laundering. Tradecoin24 adheres to the FIU's regulations.
Tradecoin24 has implemented policies to discourage money laundering. These policies consist of:
ensuring that customers have valid identification
maintaining identification information data
Checking client identities against lists of known or suspected terrorists to determine that they are not known or suspected terrorists.
advising customers that their information may be used to verify their identity
carefully observing client financial transactions
Not accepting currency, money orders, transactions with third parties, transfers from exchange houses, or Western Union transfers.
Money laundering occurs when funds from an unlawful or criminal activity are moved
through the financial system to make it appear as though they originated from legitimate
Typically, money laundering follows three stages:
Cash or cash equivalents are initially deposited into the financial system.
Secondly, money is transferred or moved to other accounts (such as futures accounts) through a series of financial transactions designed to obscure the origin of the money (such as executing trades with minimal or no financial risk or transferring account balances to other accounts).
The funds are then reintroduced into the economy so that they appear to have originated from legitimate sources (such as by terminating a futures account and transferring the funds to a bank).
Trading accounts can be utilized to launder illegal funds or conceal the true proprietor of the funds. Specifically, a trading account can be used to conduct financial transactions that help conceal the source of the funds.
As a preventative measure, Tradecoin24 redirects funds withdrawals to the original source of transfer.
International Anti-Money Laundering requires financial services institutions to be aware of potential money laundering abuses in customer accounts and to implement a compliance program to deter, detect, and report suspicious activity.
These rules have been implemented to safeguard Tradecoin24 and its customers.
Please contact us at support@Tradecoin24.com if you have any queries or feedback about these rules.