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Anti-Money Laundering Policy

Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate, so that its illegal source cannot be traced. Domestic and international laws that apply to companies, whose customers can deposit and withdraw funds from their accounts.

CryptoFX strictly follows the provisions of the anti money laundering and counter terrorism financing policy and demands that its employees fully observe these standards. The Company therefore takes all necessary measures to detect and counter money laundering and terrorism financing. The internal rules are observed in accordance with the relevant international requirements.

CryptoFX anti-money laundering procedures

Implemented Procedures

The objective of Anti-Money laundering procedures that CryptoFX implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers. CryptoFX is committed to assisting governments combat the threat of money laundering and financing terrorist activities around the world. For that purpose CryptoFX has set up a highly sophisticated electronic system. This system documents and verifies client identification records, and tracks and maintains detailed records of all transactions.

CryptoFX carefully tracks suspicious and significant transaction activities, and reports such activities "providing timely and comprehensive information" to law enforcement bodies. To uphold the integrity of reporting systems and to safeguard businesses, the legislative framework provides legal protection to providers of such information.

In order to minimize the risk of money laundering and financing terrorist activities, CryptoFX neither accepts cash deposits nor disburses cash under any circumstances. CryptoFX reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity. It is forbidden for CryptoFX to inform customers that they have been reported for suspicious activity.