Money insurance + Anti Money Laundering Policy (EN)

Anlageversicherung + Anti Money Laundering Policy (Deutsch) hier Klicken

Money Insurance:
Yourtrade Fx PROUD TO HAVE BECOME THE FIRST CAMPANY TO BE ACCEPTED BY SPECIALIST INSURANCE MARKET, CHESTERFIELD GROUP.

The Chesterfield Group underwriters examined all aspects of the firm’s operations, including our management, financial processes and customer services. We are delighted that they found everything to meet their high standards and have recommended us. The new policy grants civil liability insurance to the firm and covers all regions in which we operate worldwide.

This is also a great milestone for the binary options industry. We are honored to be the first firm to achieve this insurance and to lead by example, demonstrating that binary trading can be a legitimate and financially secure product.

We do provide you Insured accounts, Segregated accounts with VPS.
All the accounts are insured of course, but within the equity increasing the account will be suited with higher insurance roof in addition to insurance over Profits in case of no withdrawal made on the short term.

Deposit between 75,000EUR-150,000EUR is totally insured, and so the claimed profits are calculated and added to the insured equity for the long run roof of profits to be insured in case of not withdrawing them to proceed forward up to 65%

Account from 150,001EUR- 500,000EUR is totally insured, and so the claimed profits are calculated and added to the insured equity for the long run roof of profits to be insured in case of not withdrawing them to proceed forward up to 75%

Accounts from 500,000EUR is totally insured, and so the claimed profits are calculated and added to the insured equity for the long run roof of profits to be insured in case of not withdrawing them to proceed forward up to 89%

1.1 Introduction
Money laundering is the common term for the process by which a person seeks to conceal the proceeds of crime by exchanging
criminal property for so-called clean money. Activities associated with money laundering include:
acquiring, using or possessing criminal property;
handling the proceeds of crimes such as theft, fraud and tax evasion;
being knowingly involved in any way with criminal or terrorist property;
investing the proceeds of crimes in other financial products or through the acquisition of property or assets;
transferring criminal property; and financing of terrorist activities

For the purposes of this Manual, the term money laundering will mean money laundering and terrorist financing.

The proceeds of crime or “criminal property” means any property which constitutes or comes to represent a person’s benefit from criminal conduct. Criminal property (which also includes “terrorist property”) can take any form: e.g. money, securities, tangible and intangible property, and money, whether or not it is “clean” money, which is used to fund terrorism.

1.2 Money Laundering
Businesses which are seen as likely targets for money launderers wishing to use them as a means to channel the proceeds of crime include: solicitors; accountants; authorised Companies; money services businesses; high value dealers; and trust or company service providers.

There are number of obligations placed on these businesses, such as:
a. the identification of customers;
b. the appointment of a nominated individual to be responsible for reporting of suspicious persons and
transactions; and
c. the implementation of systems and procedures to combat the use of their services by money launderers; and
d. ensuring that employees are aware of their obligations under the legislation.

1.3 The Money Laundering Reporting Officer

The MLRO has overall responsibility within the Company’s businesses for the establishment and maintenance of effective anti-money laundering systems and controls. This will include providing sufficient information to the Board to enable them to review the effectiveness of these systems and controls and ensure that they remain effective in reducing the risk that the Company is used for money laundering.

The MLRO’s responsibilities are:
a. receiving internal reports from Employees concerning suspicions of money laundering;
b. taking reasonable steps to access any relevant information held by the Company including any information held
in relation to:
i. the financial circumstances of the Client or any person on whose behalf the Client is acting; and
ii. the features (type, frequency, volume) of the Transactions which the Company has entered into with or for the Client.
c. obtaining and using national and international findings on countries and jurisdictions found to be materially deficient in their anti-money laundering procedures and ensuring the Company’s compliance with national and international sanctions
d. taking reasonable steps to establish and maintain adequate arrangements for awareness and training (whether by himself or someone else); and
e. making annual reports to the Company’s Board of Directors.

The MLRO has full access to all existing client information held by the Company. All Employees must comply with any request by the MLRO to review such information and any other information that the MLRO may ask to see.

1.4 Risk Based Approach
The Company has adopted a risk based approach to assessing the most cost effective and proportionate way to manage and mitigate the money laundering risks to the Company.

The application of the Risk Based Approach stipulates that subject persons may determine the extent of the application of Customer Due Diligence requirements on a risk‐sensitive basis, depending on the type of customer, business relationship, product or transaction.

The possibility to apply different measures on the basis of the particular ML/FT risks is a novel concept within the ambit of AML/CFT. The principle behind this is that resources should be directed proportionately in accordance with the extent of the ML/FT risks posed, so that the business, products and customers posing the highest risks receive the highest attention.

The Company has preferred this approach over a rules‐based approach that may lead to a ‘tick box’ approach with the focus being placed on meeting regulatory needs rather than on effectively combating money laundering. The application of a risk‐based approach ensures that measures to prevent or mitigate money laundering are commensurate with the risks identified and that resources are allocated in the most efficient ways.

The steps that the Company will take to achieve this are to:

identify the money laundering risks that are relevant to the Company;

assess the risks presented by the Company’s
clients
products
delivery channels
geographical areas of operation
design and implement controls to manage and mitigate these assessed risks;
monitor and improve the effective operation of these controls; and
record appropriately what has been done, and why.

This risk based approach allows the senior management of the Company to apply its own approach to procedures, systems and controls, and arrangements that fit with the business of the Company and of its clients.

For identification purposes the levels of due diligence that will have to be undertaken will depend on the level of risk that Senior Management has assessed that the Company may be exposed to when dealing with or for a particular client.

From time to time the MLRO may require additional information or actions be taken concerning clients or transactions that may not be set out in the published procedures, and Employees are expected to comply at all times with any such requirements.

1.5 Money Laundering Offences

According to the Proceeds of Criminal Conduct Act and the Code of Practice/ Money Laundering Regulations passed thereunder, the phrase “money laundering” covers all procedures aimed to conceal the origins of criminal proceeds so that they appear to have originated from a legitimate source. This gives rise to three features common to persons engaged in criminal conduct, namely that they seek:

to conceal the true ownership and origin of criminal proceeds;
to maintain control over them; and
to change their form.

Identification of Clients

A client is any person (including individuals, incorporated entities, partnerships, trusts etc.) to whom the Company provides, intends to provide, or has in the past provided a service in the course of carrying on its regulated business. A client for these purposes also includes a potential client.

Before acting for any client the Company must carry out a process of Customer Due Diligence (CDD). CDD involves:
(a) identifying any client
(b) verifying the client’s identity
(c) identifying the beneficial owner where relevant and verifying his or her identity
(d) obtaining information on the purpose and intended nature of the business relationship.

CDD must also be carried out whenever the Company suspects money laundering or has cause to be suspicious about or believes that any documents or other information that has been supplied is out of date or inaccurate. Any business relationship with a client will be subject to periodic review which may result in Employees being asked to conduct CDD or seek additional information from a client at any time.

The verification of the identity of the customer and the beneficial owner may be completed during the establishment of a business relationship if this is necessary not to interrupt the normal conduct of business and where there is little risk of money laundering or terrorist financing occurring. In such situations these procedures shall be completed as soon as practicable after the initial contact.

Based on the instruments and services provided by the company, the assessed level of risk the Company may be exposed to increases at the time of a client withdrawal of funds. As all clients are screened prior to engagement through an electronic data identification verification that verifies that the client is not listed in a risk group (e.g. PEP’s, Criminals and Terrorists), the risk for money laundering exists in the fund withdrawal process.

CDD: Individuals
In each case of a customer engagement, the Company must obtain, the individual’s:
full name
residential address
date of birth

This information must then be verified
Documents that could be used to meet this requirement are listed below:

Documents that identify the individual
Documents that verify the individual’s address
· current signed passport
· signed record of home visit
· residence permit issued by Home Office on sight of own country passport
· current photo-card driving licence
· recent (within the last 6 months) utility bill that has been posted to the individual’s home address
· local authority utility bill (valid for the current year)
· Firearms certificate
· Bank, building society statement or passbook

The above lists are not exhaustive and where appropriate other forms of identification can be presented. Documents listed in the first column may also be used to verify the individual’s address but the same document cannot be used to verify both the individual’s identity and his or her address.

There are also a number of sources of electronic data that may be used but should not be relied upon as the sole means of identifying the individual.

If using electronic data as the sole means of verifying identity, then the source must be one that uses data from multiple sources collected over a period of time or incorporates checks that assess the strength of the information supplied such as one of the specialist agencies used by the Company for these purposes.

Failure to obtain CDD will cause the client account to be frozen and relationship termination process to be initiated.

Companies and other incorporated entities
An incorporated entity is identified by:
(a) its registered number;
(b) its registered corporate name and any trading names used;
(c) its registered address and any separate principal trading addresses;
When identifying a corporate Employees should also obtain information about:
(i) its directors or partners (as appropriate);
(ii) its owners and shareholders; and
(iii) the nature of its business.