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, make it illegal for FOREX-SHOP.COM company, or its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction of criminally derived property.
The objective of anti-money laundering procedures that FOREX-SHOP.COM implements – to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers. “FOREX-SHOP.COM” is committed to assisting governments combat the threat of money laundering and financing terrorist activities around the world.
FOREX-SHOP.COM 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, FOREX-SHOP.COM neither accepts cash deposits nor disburses cash under any circumstances.
FOREX-SHOP.COM 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 LiteForex to inform customers that they have been reported for suspicious activity.