Anti-Money Laundering (AML) Policy
Our Commitment to Global Regulatory Compliance
1. Introduction
We are fully committed to conducting business with the highest standards of integrity and in compliance with all applicable laws and regulations aimed at combating money laundering, terrorism financing, and other financial crimes. This policy outlines our framework for adhering to Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) requirements across the jurisdictions we serve.
2. Global Compliance Framework
Our AML program is designed to be compliant with the key regulations in the regions we operate, including North America, Europe, and Asia. We continuously monitor regulatory changes to ensure our policies remain current and effective.
North America (USA & Canada)
We adhere to the regulations set forth by the Financial Crimes Enforcement Network (FinCEN) in the U.S. and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This includes robust customer identification programs, monitoring for suspicious activities, and reporting requirements, with a particular focus on cryptocurrency transactions as per recent regulatory guidance.
Europe (EU)
Our policies are aligned with the EU's Anti-Money Laundering Directives (including 6AMLD) and the regulations overseen by the new European Anti-Money Laundering Authority (AMLA). We comply with the Markets in Crypto-Assets (MiCA) regulation, which governs crypto-asset service providers (CASPs), and enforce enhanced due diligence and transparency in beneficial ownership.
Asia (APAC)
We comply with the stringent AML/CFT frameworks in key Asian financial hubs like Singapore and Hong Kong, which require strong Know Your Customer (KYC) and transaction monitoring for Virtual Asset Service Providers (VASPs). We also implement measures to address regional risks such as trade-based money laundering, in line with FATF recommendations.
3. Key Pillars of Our AML Program
- Customer Due Diligence (CDD): We perform thorough identity verification for all clients, as detailed in our KYC Policy. We assess the risk profile of each client and conduct enhanced due diligence for those deemed high-risk.
- Transaction Monitoring: We utilize advanced, technology-driven systems to monitor transactions in real-time for patterns that may indicate suspicious activity. This includes monitoring for unusual transaction sizes, frequencies, and geographical locations.
- Reporting of Suspicious Activity: We are committed to reporting any suspicious activities to the relevant financial intelligence units (FIUs) in accordance with our legal obligations in each jurisdiction.
- Record Keeping: We maintain comprehensive records of all client identification data and transactions for the period required by law, ensuring they are available to regulators upon request.
- Employee Training: All relevant employees receive ongoing training on AML/CFT regulations and our internal policies to ensure they can effectively detect and report suspicious activities.
For questions about our AML policy, please contact our compliance team at compliance@ctraderai.com.