Money laundering is the practice of engaging in a sequence of financial transactions to hide the ownership, source, control, or purpose of unlawfully gained money. Ultimately, it is the manner by which the proceeds of crime appear to have a genuine origin. AssetsFX is dedicated to preventing money laundering through its service and complies with all international AML laws.
Regarding the money deposits, the sender name must match the account holder's name present in AssetsFX records, and no third-party transfers are allowed. Similarly, in the case of money withdrawal, the recipient's name must match the account holder's name who is withdrawing money. If money is withdrawn via wire transfer, it can be done only to the same bank and the exact account name from where money was deposited.
If money is withdrawn via an online payment system, it can be done only to the same account or e-wallet from where it was deposited. Individuals need to provide the following documentation for opening an account: A scanned copy of your passport or national id document as well as a bank statement or utility bill which is not more than 3 months old. For corporate accounts, the following is needed:
1. Memorandum and Articles of Association.
2. Certificate of Incorporation.
3. Company Bank Statement.
4. A copy of the Register of Shareholders.
5. Proof of Registered Address (recent original utility bill or bank statement displaying the Company's Name and Registered Address).
6. Proof of Correspondence Address (recent original utility bill or bank statement displaying the Company's Name and Registered Address).
7. Individual verification of all directors (copy of passport and a recent original residential utility bill for each)
8. Individual verification of shareholders with 25% or more holding.
- Individual shareholders (copy of passport and a recent original residential utility bill for each)
– Corporate shareholders ( a complete list of supporting documentation for each Company as listed above).