Preventing Money Laundering

1. Understanding Money Laundering

Today’s world is grappling with significant hurdles in combating money laundering and the financing of terrorism. Money laundering involves disguising funds acquired from illegal activities to make them seem legitimate. This includes the possession, utilization, or distribution of such money. On the other hand, terrorism financing refers to the act of providing or collecting funds, or offering financial services, knowing that these resources will be used to support or carry out terrorist activities, or to aid in the establishment and maintenance of groups dedicated to such acts. It’s crucial for those familiar with financial systems to recognize and address these challenges, ensuring the integrity and security of global financial networks.

Individuals and organizations involved in illicit earnings are constantly devising strategies to legitimize their wealth. They might exploit personal information of unsuspecting individuals, sometimes obtained through deceitful methods, to cover their tracks. This poses a significant risk to innocent people who might unwittingly get entangled in these criminal endeavors. Understanding and addressing these challenges is crucial for maintaining financial integrity and safety.

2. Preventing Money Laundering

Organizations involved in financial transactions or handling assets are required to follow anti-money laundering legislation, confirm their clients’ identities, and collaborate with governmental and financial institutions dedicated to eradicating money laundering. Exness takes all necessary actions to adhere to regulations preventing money laundering and the financing of terrorism, emphasizing its commitment to legal compliance and the safeguarding of financial integrity.

3. How We Confirm Our Clients’ Identities

In line with regulations regarding client identification, we conduct this procedure throughout registration, non-trading transactions, and ongoing monitoring. To confirm our clients’ identities, Exness Group may request personal information and verify its accuracy using a system devised by our experts. This process typically spans several business days.

4. Adhering to the Privacy Agreement

We handle your personal information in line with our Privacy Agreement. It’s important to understand that our identification process is to meet anti-money laundering and anti-terrorism financing laws, not because we suspect you of wrongdoing. Your cooperation and understanding are vital in our efforts to combat financial crime effectively.

Last updated: March 28, 2024