KasperFX Group is committed to the highest standards of compliance against money laundering (AML) and counter-terrorist financing (CTF). The objective of the Company's Policy against Money Laundering and Terrorism Financing is to actively prevent the risks of these matters. To help the government combat the financing of terrorism and money laundering activities, the law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. We have an obligation to report suspicious client activity relevant to money laundering.

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Money Laundering is the process of converting funds received from illegal activities (such as fraud, corruption, terrorism, etc.) into other funds or investments that appear legitimate to hide or distort the actual source of funds.

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The money laundering process can be divided into three sequential stages:

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• Placement: At this stage, the funds are turned into financial instruments, such as checks, bank accounts, and money transfers, or they can be used to buy high-value goods that can be resold. They can also be physically deposited in banks and non-bank institutions (e.g. exchange houses). To avoid suspicion on the part of the company, the launderer may also make several small deposits instead of depositing the entire sum at once. This form of placement is called smurfing.

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• Layering: The funds are transferred or moved to other accounts and financial instruments to disguise the origin and interrupt the audit trail of the entity that carried out the multiple financial transactions. Moving funds and changing their form makes it difficult to track the money being laundered.

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• Integration: The funds are re-circulated as legitimate to purchase goods and services.

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• KasperFX adheres to the principles of Anti-Money Laundering and actively prevents any action that targets or facilitates the legalization of illegally obtained funds. The AML policy ensures that the services of the company are not used by criminals for money laundering, terrorist financing, or any other criminal activity.

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• To prevent money laundering, KasperFX does not accept or pay in cash under any circumstances. The company reserves the right to suspend the operation of any client that may be considered illegal or, in the opinion of the staff, related to money laundering.

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Company Procedures

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KasperFX ensures that all clients are real and legal persons or entities. The company performs all necessary due diligence in accordance with the applicable laws and regulations, including those issued by monetary authorities. AML policy is implemented at KasperFX through the following means:

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• Know Your Customer (KYC) policy and due diligence

• Monitoring of customer activity

• Maintenance of proper records

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Know Your Customer (KYC) Policy

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Due to KasperFX's commitment to AML and KYC policies, each client must complete a verification procedure. Before initiating any cooperation, the company ensures satisfactory evidence of identity or equivalent reliable verification of the client or counterparty.

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The company applies enhanced scrutiny to clients from jurisdictions known to have insufficient AML standards or pose a higher risk of corruption or crime.

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Individual Clients

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During the registration process, each client must provide personal information including:

• Full name

• Date of birth

• Country of origin

• Full residential address

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The following documents are required to verify identity:

• Valid passport (photo and signature clearly visible); or

• Driving license with photo; or

• National ID card (front and back)

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AND

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• Proof of residence (utility bill, bank statement, etc., not older than 3 months)

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If documents are not in English or Latin characters, a notarized English translation is required.

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Corporate Clients

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If the company is listed on a recognized exchange or is a wholly owned subsidiary of such a company, further identity verification may not be required. Otherwise, the following documents must be submitted:

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• Certificate of Incorporation or national equivalent

• Memorandum and Articles of Association

• Certificate of Good Standing or proof of company address

• Board resolution authorizing account opening and operators

• Copies of powers of attorney (if applicable)

• Proof of identity of the directors (as per individual requirements)

• Proof of identity of beneficial owners and authorized signatories

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Monitoring Client Activity

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KasperFX Group continues to monitor each client's activity to detect and prevent suspicious transactions. A suspicious transaction is one that is inconsistent with the customer's business or past transaction pattern.

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The company uses a combination of automated and manual systems to monitor for red flags and potential misuse of its services.

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Record Maintenance

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KasperFX Group maintains records of:

• All transaction data

• Identity documents

• AML-related documentation (e.g. suspicious activity reports)

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Records are retained for at least 7 years after the account is closed.

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Actions Taken

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In the event of a suspected money laundering or illegal activity, KasperFX Group will act according to applicable laws and report to the relevant regulatory authority.

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The company reserves full rights to:

• Suspend any transaction

• Block or close accounts

• Terminate business relationships at its discretion

 

For inquiries or more information, contact us at: support@kasperfx.com