We may make changes to this Notice from time to time and it is important that you check this Notice for any updates. Any personal information we hold will be governed by our current privacy notice. If we make changes we consider to be important, we will communicate them to you. Please note that this notice is addressed to customers and potential customers.
Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.
The term "money laundering" is used to describe all procedures that aim to conceal the criminal origins of funds and in doing so make the origin of funds appear as of a legitimate source.
The Forex Market involves a high risk in relation to clients willing to use services for illegal purposes, which can be attributed to money laundering. Although, it does not constitute as a crime for the Company if such cases occur without the Company's knowledge of illegal assets, property, transactions and etc.,
The Company must ensure and do everything in its competence to avoid the transactions/ relationships involving any illegal, criminal or terrorist involvement or elements. Therefore, the Company closely and seriously has reviewed the anti-money laundering (hereinafter referred to as "AML") as well as relevant practices to it and has developed its internal AML Policy in order to avoid and prevent any money laundering, illegal or criminal activities.
Through that, the Company will ensure that employees are not involved in money laundering and terrorism financing. Effective Customer Due Diligence measures are essential to the management of money laundering and terrorist financing risk.
Customer Due Diligence means identifying the customer and verifying their true identity on the basis of documents, data or information both at the moment of starting a business relationship with customer and on an ongoing basis. The customer identification and verification procedures require, first, the collection of data and, second, attempts to verify that data.
The directors, officers and staff of the Company shall at all times make every effort to maintain the highest standards of ethics, unity and discretion in the Company's management and administration so as to ensure that the Company creates and maintains a positive reputation.
The directors, officers and staff shall at all times act in such a manner as to maintain the reputation of Saint Vincent and the Grenadines as a major international financial center and to impede the use of the jurisdiction for illegal, criminal and terrorist purposes.
Ensuring the Company's compliance with the requirements of the Regulations;
Establishing and maintaining internal AML program;
Training employees to recognize suspicious transactions;
Receiving and investigating internal suspicious activity and t ransaction reports from staff;
Ensuring that proper AML records are kept;
Obtaining and updating international findings concerning countries with inadequate AML systems, laws or measures.
Fast Forex is committed to assisting governments combat the threat of money laundering and financing terrorist activities around the world.
fast forex carefully tracks suspicious and significant transaction activities, and reports such activities “providing timely and comprehensive information” to law enforcement bodies.