KYC\/AML Policies<\/p>\n
No Limit Markets Ltd. is committed to the highest standards of compliance against money<\/p>\n
laundering (AML) and anti-terrorist financing (CTF). The objective of the Companies Policy<\/p>\n
against Money Laundering and Terrorism Financing is to actively prevent the risks of these<\/p>\n
matters. To help the government combat the financing of terrorism and money laundering<\/p>\n
activities, the law requires all financial institutions to obtain, verify, and record information<\/p>\n
that identifies each person who opens an account. We have an obligation to report<\/p>\n
suspicious client activity relevant to money laundering.<\/p>\n
Money Laundering: The process of converting funds received from illegal activities (such as<\/p>\n
fraud, corruption, terrorism, etc.) into other funds or investments that appear legitimate to<\/p>\n
hide or distort the actual source of funds.<\/p>\n
The money laundering process can be divided into three sequential stages:<\/p>\n
\u2022 Placement. At this stage, the funds are turned into financial instruments, such as checks,<\/p>\n
bank accounts, and money transfers, or they can be used to buy high-value goods that can<\/p>\n
be resold. They can also be physically deposited in banks and non-bank institutions (eg<\/p>\n
exchange houses). To avoid suspicion on the part of the company, the bleach can also make<\/p>\n
several deposits instead of depositing the entire sum at once, this form of placement is<\/p>\n
called smurf.<\/p>\n
\u2022 Layers. The funds are transferred or moved to other accounts and other financial<\/p>\n
instruments. It is done to disguise the origin and interrupt the indication of the entity that<\/p>\n
carried out the multiple financial transactions. Moving funds and changing their form makes<\/p>\n
it difficult to track the money that is being laundered.<\/p>\n
\u2022Integration. The funds are re-circulated as legitimate to purchase goods and services.<\/p>\n
No Limit Markets Ltd. adheres to the principles of Anti-Money Laundering and actively<\/p>\n
prevents any action that targets or facilitates the legalization process of illegally obtained<\/p>\n
funds. The AML policy means preventing the use of the company’s services by criminals,<\/p>\n
with the objective of money laundering, terrorist financing or other criminal activity.<\/p>\n
To prevent money laundering, No Limit Markets Ltd. does not accept or pay in cash under<\/p>\n
any circumstances. The company reserves the right to suspend the operation of any client,<\/p>\n
which may be considered illegal or, in the opinion of the staff, related to money laundering.<\/p>\n
Company procedures<\/p>\n
No Limit Markets Ltd. will ensure that it is a real or legal person. No Limit Markets Ltd. also<\/p>\n
performs all the necessary measures in accordance with the applicable laws and<\/p>\n
regulations, issued by the monetary authorities. The AML policy is being met within FX of No<\/p>\n
Limit Markets Ltd. by the following means:<\/p>\n
\u2022 know your client’s policy and due diligence<\/p>\n
\u2022 monitor customer activity<\/p>\n
\u2022 Registry mantenance<\/p>\n
Know Your Customer – Due to the company’s commitment to AML and KYC policies, each<\/p>\n
company customer must complete a verification procedure. Before No Limit Markets Ltd.<\/p>\n
initiates any cooperation with the client, the company ensures that satisfactory evidence is<\/p>\n
presented or other measures are taken that produce satisfactory proof of the identity of any<\/p>\n
client or counterparty. The company also applies increased scrutiny to clients, who are<\/p>\n
residents of other countries, identified by credible sources as countries, who have<\/p>\n
inadequate AML standards or who may pose a high risk of crime and corruption and<\/p>\n
beneficial owners who reside in and whose funds are sourced from named countries.<\/p>\n
Individual clients<\/p>\n
During the registration process, each client provides personal information, specifically: full<\/p>\n
name; birthdate; country of origin; and full residential address. The following documents are<\/p>\n
required to verify personal information: A client submits the following documents (in case thedocuments are written in non-Latin characters: to avoid delays in the verification process, it<\/p>\n
is necessary to provide a notarized translation of the document in English ) due to KYC<\/p>\n
requirements and to confirm the indicated information:<\/p>\n
\u2022 Valid passport (showing the first page of the local or international passport, where the<\/p>\n
photo and signature are clearly visible); or<\/p>\n
\u2022 Driving license with photograph; or<\/p>\n
\u2022 National identity card (showing the front and back);<\/p>\n
\u2022 Documents proving current permanent address (such as utility bills, bank statements, etc.)<\/p>\n
containing the customer’s full name and place of residence. These documents should not be<\/p>\n
older than 3 months from the filing date.<\/p>\n
Corporate clients<\/p>\n
In the event that the applicant company is listed on a recognized or approved stock<\/p>\n
exchange or when there is independent evidence to show that the applicant is a wholly<\/p>\n
owned subsidiary or a subsidiary under the control of said company, no further steps will<\/p>\n
normally be taken to verify the identity. necessary. In the event that the company is not listed<\/p>\n
and none of the main directors or shareholders already has an account with No Limit<\/p>\n
Markets Ltd., the following documentation must be provided:<\/p>\n
\u2022 Certificate of incorporation or any national equivalent;<\/p>\n
\u2022 Memorandum and Articles of Association and statutory declaration or any national<\/p>\n
equivalent;<\/p>\n
\u2022 Certificate of good standing or other proof of the company’s registered address;<\/p>\n
\u2022 Resolution of the board of directors to open an account and grant authority to those who<\/p>\n
will operate it;<\/p>\n
\u2022 Copies of powers of attorney or other authorities granted by the directors in relation to the<\/p>\n
company;<\/p>\n
\u2022 Proof of the identity of the directors in case they deal with No Limit Markets Ltd. on behalf<\/p>\n
of the Client (in accordance with the individual identity verification rules described above);<\/p>\n
\u2022 Proof of identity of the final beneficiary (s) and \/ or the person (s) under whose instructions<\/p>\n
the signers of the account are empowered to act (in accordance with the rules of individual<\/p>\n
identity verification described above).<\/p>\n
Tracking customer activity<\/p>\n
In addition to collecting customer information, No Limit Markets Ltd. continues to monitor the<\/p>\n
activity of each customer to identify and prevent any suspicious transactions. A suspicious<\/p>\n
transaction is known as a transaction that is not consistent with the legitimate business of<\/p>\n
the customer or with the transaction history of the regular customer known by tracking<\/p>\n
customer activity. No Limit Markets Ltd. has implemented the named transactions monitoring<\/p>\n
system (both automatic and, if necessary, manual) to prevent criminals from using the<\/p>\n
company’s services.<\/p>\n
Registry maintenance<\/p>\n
Records must be kept of all transaction data and data obtained for identification purposes,<\/p>\n
as well as all documents related to money laundering issues (e.g. suspicious activity<\/p>\n
reporting files, AML account monitoring documentation , etc.). Those records are kept for a<\/p>\n
minimum of 7 years after the account is closed.<\/p>\n
Measures taken<\/p>\n
In cases of an attempt to execute transactions that No Limit Markets Ltd. suspects are<\/p>\n
related to money laundering or other criminal activity, it will proceed in accordance with<\/p>\n
applicable law and report the suspicious activity to the regulatory authority.<\/p>\n
No Limit Markets Ltd. reserves the right to suspend the operation of any client, which may<\/p>\n
be considered illegal or may be related to money laundering in the opinion of the staff. No<\/p>\n
Limit Markets Ltd. has full discretion to temporarily block the suspicious customer’s accountor terminate a relationship with an existing customer. For more information you can contact<\/p>\n
us at support@nolimitmarkets.com<\/p>\n","protected":false},"excerpt":{"rendered":"
KYC\/AML Policies No Limit Markets Ltd. is committed to the highest standards of compliance against money laundering (AML) and anti-terrorist financing (CTF). The objective of the Companies 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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3289","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/pages\/3289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/comments?post=3289"}],"version-history":[{"count":2,"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/pages\/3289\/revisions"}],"predecessor-version":[{"id":3291,"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/pages\/3289\/revisions\/3291"}],"wp:attachment":[{"href":"https:\/\/nolimitmarkets.com\/fa\/wp-json\/wp\/v2\/media?parent=3289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}