Financial crime includes money laundering. It entails using proceeds from criminal activity (dirty money) and hiding where it came from so that it appears genuine. Financial institutions that want to comply with legislative mandates to actively monitor for and report suspicious activity must engage in anti-money laundering (AML) efforts.
Trent X is a well-known brokerage company that serves clients from all over the world by providing products in the areas of stocks, indices, forex, and commodities. The company offers premium, specialized trading solutions that bridge the gap between your needs and our experience and caters to trader segments across the financial spectrum. Our cutting-edge platform, coupled with better liquidity and unmatched services, is what sets us apart from the competition.
The business has implemented a program that conforms with AML/CTF Act requirements. All officers, staff members, appointed producers, and goods and services provided by The Company are covered by this policy.
The Company's business groups and locations will work together to develop a coordinated strategy to combat money laundering. Every business unit and location has put in place risk-based procedures that should be able to stop, find, and prompt the reporting of transactions required by international money laundering regulations.
The Company has a policy of forbidding money laundering and other behavior that aids in funding terrorism or other illegal acts, as well as actively pursuing their prevention. The Company is dedicated to ensuring that its products and services are used to avoid money laundering in line with applicable legislation, and as such, it demands all of its officials, workers, and appointed producers to uphold these standards.
The Company will not seek to ascertain if the identity document given by the client is lawfully issued.
To establish a customer's identity for verification purposes, The Company will rely on government-issued identification. The Company, on the other hand, will examine the material presented to see if there are any logical discrepancies. The Company shall document its verification, including all identifying information given by the client, the techniques utilized, and the verification outcomes, including but not limited to sign-off by the appointed manufacturer of matching picture identification.
If a client refuses to supply the above-mentioned information when requested, or appears to have provided knowingly false information, the designated agent must contact the chief compliance manager. Following that, the application will be denied by the company.
The Company strictly prohibits third-party funding. Any monies deposited into the account must be deposited by the same account holder. The transfer of trading funds between various trading accounts belonging to different account holders is strictly prohibited by the Company. This is done to reduce the likelihood of money laundering. The Company rigorously enforces the requirement that withdrawals must be made using the same bank account, credit/debit card, or digital wallet that was used to deposit the cash. All customer withdrawal requests must be processed in the currency used to make the initial deposit.
The Company gathers and validates the Client's identifying data, as well as logs and monitors itemized summaries of all transactions conducted by the Client.
If the Company monitors suspicious customer transactions and transactions conducted under unusual circumstances. The Company follows AML/FATF recommendations for anti-money laundering compliance.
Under no circumstances does the Company take cash deposits or distribute cash. The Company maintains the right to refuse to complete a transaction at any point if it feels the transaction is linked to money laundering or illegal activity in any manner. According to international law, The Company is not required to notify the client that they were notified to the relevant regulating bodies as a result of the customer's questionable behaviour.
The Company does not serve any US organizations or residents. While we welcome clients from all over the world, governmental restrictions and company policies prevent The Company from opening accounts in the following restricted and/or OFAC sanctioned countries, as well as high risk and non-cooperative jurisdictions: Afghanistan, Bosnia and Herzegovina, Democratic People's Republic of Korea (DPRK), Guyana, Iran, Iraq, Lao People's Democratic Republic, Myanmar, Papua New Guinea, Syria, Uganda, Vanuatu, Yemen.