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Library / Forex trading at EXNESS / Legality and security / Preventing money laundering

Preventing money laundering

1. What is money laundering?

Modern society currently faces a serious challenge in preventing money laundering, e.g. making the possession, use, or disposal of money or other property obtained from criminal activities appear to be legal, and terrorism financing - providing or gathering money or rendering financial services with the knowledge that the money is intended to finance the organization, preparation for, or execution of terrorist acts or to support a criminal society (criminal organization) created or being created to perform terrorist acts.

Individuals and legal entities whose income is earned illegally make various attempts to legalize their income. For example, they may use other people's personal data, including data that has been acquired fraudulently. This may become a problem for people who become victims of fraud and are uninvolved in these parties' criminal activities.

2. Laws against money laundering

To prevent money laundering, organizations performing operations with money or other property are obligated to comply with anti-money laundering laws, verify the identity of clients, and assist government agencies and financial organizations working to combat money laundering. EXNESS does everything required to ensure compliance with laws against money laundering and financing terrorism.

3. Client identity verification procedure

As part of complying with laws on client identification, this procedure is performed during registration, various types of non-trading operations, and as part of monitoring by our specialists. In order to identify our clients, EXNESS Group may ask you for personal data and take steps to confirm the accuracy of this information using a verification system developed by our specialists. It may take several work days to complete this process.

4. Compliance with the Privacy Agreement

The personal data we receive is handled in accordance with the provisions of the Privacy Agreement. Please note that the reason for the identification procedure is to comply with laws against money laundering and financing terrorism, not because we suspect you of committing illegal acts. Accordingly, your cooperation and understanding of these steps is necessary to effectively combat money laundering and financing terrorism.

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