KYC / AML Policies
i2brokerr Group is committed to the highest standards of compliance against money
laundering (AML) and anti-terrorist financing (CTF). The objective of the Companies Policy
against Money Laundering and Terrorism Financing is to actively prevent the risks of these
matters. To help the government combat the financing of terrorism and money laundering
activities, the law requires all financial institutions to obtain, verify, and record information
that identifies each person who opens an account. We have an obligation to report
suspicious client activity relevant to money laundering.
Money Laundering: The process of converting funds received from illegal activities (such as
fraud, corruption, terrorism, etc.) into other funds or investments that appear legitimate to
hide or distort the actual source of funds.
The money laundering process can be divided into three sequential stages:
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Placement.
At this stage, the funds are turned into financial instruments, such as checks, bank accounts, and money transfers, or they can be used to buy high-value goods that can be resold. They can also be physically deposited in banks and non-bank institutions (eg exchange houses). To avoid suspicion on the part of the company, the bleach can also make several deposits instead of depositing the entire sum at once, this form of placement is called smurf.
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Layers.
The funds are transferred or moved to other accounts and other financial instruments. It is done to disguise the origin and interrupt the indication of the entity that carried out the multiple financial transactions. Moving funds and changing their form makes it difficult to track the money that is being laundered.
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Integration.
The funds are re-circulated as legitimate to purchase goods and services. i2brokerr Group adheres to the principles of Anti-Money Laundering and actively prevents any action that targets or facilitates the legalization process of illegally obtained funds. The AML policy means preventing the use of the company's services by criminals, with the objective of money laundering, terrorist financing or other criminal activity.
To prevent money laundering, i2brokerr Group does not accept or pay in cash under any
circumstances. The company reserves the right to suspend the operation of any client,
which may be considered illegal or, in the opinion of the staff, related to money laundering.
Company procedures
i2brokerr Group will ensure that it is a real or legal person. i2brokerr Group also performs all
the necessary measures in accordance with the applicable laws and regulations, issued by
the monetary authorities.
following means:
- know your client’s policy and due diligence
- monitor customer activity
- Registry mantenance
To prevent money laundering, i2brokerr Group does not accept or pay in cash under any
circumstances. The company reserves the right to suspend the operation of any client,
which may be considered illegal or, in the opinion of the staff, related to money laundering.
Company procedures
i2brokerr Group will ensure that it is a real or legal person. i2brokerr Group also performs all
the necessary measures in accordance with the applicable laws and regulations, issued by
the monetary authorities. The AML policy is being met within FX of i2brokerr Group by the
following means:
- know your client’s policy and due diligence
- monitor customer activity
- Registry mantenance
Know Your Customer – Due to the company’s commitment to AML and KYC policies, each
company customer must complete a verification procedure. Before i2brokerr Group initiates
any cooperation with the client, the company ensures that satisfactory evidence is presented
or other measures are taken that produce satisfactory proof of the identity of any client or
counterparty. The company also applies increased scrutiny to clients, who are residents of
other countries, identified by credible sources as countries, who have inadequate AML
standards or who may pose a high risk of crime and corruption and beneficial owners who
reside in and whose funds are sourced from named countries.
Individual clients
During the registration process, each client provides personal information, specifically: full
name; birthdate; country of origin; and full residential address. The following documents are
required to verify personal information: A client submits the following documents (in case the
documents are written in non-Latin characters: to avoid delays in the verification process, it
is necessary to provide a notarized translation of the document in English ) due to KYC
requirements and to confirm the indicated information:
- Valid passport (showing the first page of the local or international passport, where the
photo and signature are clearly visible); or - Driving license with photograph; or
- National identity card (showing the front and back);
- Documents proving current permanent address (such as utility bills, bank statements, etc.)
containing the customer’s full name and place of residence. These documents should not be
older than 3 months from the filing date.
Corporate clients
In the event that the applicant company is listed on a recognized or approved stock
exchange or when there is independent evidence to show that the applicant is a wholly
owned subsidiary or a subsidiary under the control of said company, no further steps will
normally be taken to verify the identity. necessary. In the event that the company is not listed
and none of the main directors or shareholders already has an account with i2brokerr Group,
the following documentation must be provided:
- Certificate of incorporation or any national equivalent;
- Memorandum and Articles of Association and statutory declaration or any national
equivalent; - Certificate of good standing or other proof of the company’s registered address;
- Resolution of the board of directors to open an account and grant authority to those who
will operate it; - Copies of powers of attorney or other authorities granted by the directors in relation to the
company; - Proof of the identity of the directors in case they deal with i2brokerr Group on behalf of the
Client (in accordance with the individual identity verification rules described above); - Proof of identity of the final beneficiary (s) and / or the person (s) under whose instructions
the signers of the account are empowered to act (in accordance with the rules of individual
identity verification described above).
Tracking customer activity
In addition to collecting customer information, i2brokerr Group continues to monitor the
activity of each customer to identify and prevent any suspicious transactions. A suspicious
transaction is known as a transaction that is not consistent with the legitimate business of
the customer or with the transaction history of the regular customer known by tracking
customer activity. i2brokerr Group has implemented the named transactions monitoring
system (both automatic and, if necessary, manual) to prevent criminals from using the
company’s services.
Registry maintenance
Records must be kept of all transaction data and data obtained for identification purposes,
as well as all documents related to money laundering issues (e.g. suspicious activity
reporting files, AML account monitoring documentation , etc.). Those records are kept for a
minimum of 7 years after the account is closed.
Measures taken
In cases of an attempt to execute transactions that i2brokerr Group suspects are related to
money laundering or other criminal activity, it will proceed in accordance with applicable law
and report the suspicious activity to the regulatory authority.
i2brokerr Group reserves the right to suspend the operation of any client, which may be
considered illegal or may be related to money laundering in the opinion of the staff. i2brokerr
Group has full discretion to temporarily block the suspicious customer’s account or terminate
a relationship with an existing customer. For more information you can contact us at
support@i2brokerr.com