Anti-money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities.
Strict background checks are necessary to combat as many money launderers escape by investing through complex ownership and company structures.
Eurostandarte treats money laundering as an illegal activity and stands at the forefront of fighting against any criminal activity. We always keep in touch with responsible industry authorities and keep a track of what goes down around, especially when it comes to our account holders.
We conduct a strict AML policy to prevent customers from the offenses.
The policy measures include the following:
– multi-level account verification and personal identification procedure; personal data recording;
– monitoring the specific registers by checking whether customers are accused, suspected or even included in the list of wanted persons within the frame of criminal investigations;
– notifying clients that their data details are likely to be used within the identity verification procedure;
– keeping track in close on money transactions;
– blocking cash, payment orders, suspicious third party transactions.
Money laundering is a serious crime when money earned from the outlawed activity is invested in a legal business by involving the financial system.
Money Laundering Procedure traditionally includes three primary stages as follows:
– paper money or its analogs are placed into the system;
– other accounts receive cash on the temporary or permanent basis (for example, «futures» accounts) through the number of transactions initiated to find out where the money came from (for example, exercising operations with minor or no financial risk at all. Additionally, account balances can be transferred to other accounts);
– the last measure is funded re-investing into the economy. In this case, it is likely to be proven the legal origin of the money (for example, closing a «futures» account and cash transferring to a bank account.
Trading accounts are often used to launder criminal funds or make the owner undetectable. Accounts are efficient tools to carry out financial transactions with the main target of making things confused as a break for revealing the money origin.
Financial authorities should know about the possible money laundering cases as required by the International Anti-Money Laundering Policy. If the suspicious activity has occurred at the customer’s trading account, this case is utterly investigated in order to track and report illegal activity. We have implemented the guidelines to guarantee our customers’ protection.
Feel free and do not hesitate to contact [email protected] if you have any questions, proposals or comments.
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