AML & KYC Policy Compliance Commitment
FxRex.pro is committed to the highest standards of Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. This policy outlines our procedures for preventing financial crime and ensuring regulatory compliance.
1. Introduction & Purpose
FxRex.pro maintains a comprehensive Anti-Money Laundering (AML) and Know Your Customer (KYC) policy to prevent our platform from being used for financial crime. This policy establishes the framework for identifying, assessing, and managing money laundering and terrorist financing risks.
Legal Obligation
Compliance with AML and KYC regulations is not optional — it is a legal requirement. We are committed to full compliance with all applicable laws and regulations in the jurisdictions where we operate.
1.1. Policy Objectives
The primary objectives of our AML/KYC policy are:
- To prevent money laundering and terrorist financing
- To comply with all applicable legal and regulatory requirements
- To implement risk-based customer due diligence measures
- To establish effective internal controls and reporting procedures
- To provide regular training to relevant personnel
- To maintain appropriate record-keeping systems
2. Legal & Regulatory Framework
Our AML/KYC procedures are designed to comply with international standards and local regulations, including:
- Financial Action Task Force (FATF) Recommendations
- European Union Anti-Money Laundering Directives (AMLD)
- USA PATRIOT Act and Bank Secrecy Act (BSA)
- Local regulatory requirements in our operating jurisdictions
International Standards
We adhere to the Financial Action Task Force (FATF) 40 Recommendations, which represent the international standard for combating money laundering and terrorist financing.
2.1. Regulatory Cooperation
FxRex.pro cooperates fully with regulatory authorities and law enforcement agencies in the prevention and detection of financial crime. We maintain appropriate reporting channels and procedures for suspicious activity.
3. Know Your Customer (KYC) Procedures
Our KYC procedures are designed to verify the identity of our users and understand the nature of their activities. The level of due diligence applied is based on the assessed risk level of each customer.
3.1. Customer Identification Program (CIP)
All users must provide the following information for identity verification:
Full legal name, date of birth, nationality, and residential address
Government-issued photo ID (passport, driver's license, or national ID card)
Recent utility bill, bank statement, or other official document showing current address (not older than 3 months)
Information about the source of funds used for trading activities
Document Requirements
All documents must be clear, legible, and valid. We may request additional documentation if the provided documents are insufficient or if risk factors indicate enhanced due diligence is required.
4. Risk Assessment & Categorization
We employ a risk-based approach to AML/KYC compliance, categorizing customers based on their risk profile:
4.1. Risk Categories
Low Risk Customers
LOW RISK Individuals from low-risk jurisdictions with transparent financial activities, verified employment, and clear source of funds.
Medium Risk Customers
MEDIUM RISK Customers from medium-risk jurisdictions, politically exposed persons (PEPs), or those with complex ownership structures.
High Risk Customers
HIGH RISK Customers from high-risk jurisdictions, cash-intensive businesses, or those with unclear source of funds. Enhanced due diligence is required.
4.2. Enhanced Due Diligence (EDD)
For high-risk customers, we implement Enhanced Due Diligence measures, which may include:
- Additional identity verification steps
- More frequent transaction monitoring
- Obtaining senior management approval for account opening
- Requiring additional information about source of wealth and funds
- More frequent reviews of customer information
5. AML Controls & Monitoring
We have implemented comprehensive transaction monitoring systems to detect and report suspicious activities:
5.1. Transaction Monitoring
Our systems monitor transactions for patterns that may indicate money laundering or other financial crimes, including:
- Unusual transaction patterns or frequencies
- Transactions involving high-risk jurisdictions
- Structured transactions to avoid reporting thresholds
- Rapid movement of funds with no apparent economic purpose
- Transactions inconsistent with customer profile
5.2. Suspicious Activity Reporting (SAR)
We maintain procedures for identifying, investigating, and reporting suspicious activities to the appropriate financial intelligence units. All employees are trained to recognize red flags and report suspicious activities through the proper channels.
Red Flag Indicators
Common red flags include: reluctance to provide identifying information, inconsistent transaction patterns, use of multiple accounts for no apparent reason, and transactions with sanctioned entities or jurisdictions.
6. Record Keeping & Data Protection
We maintain comprehensive records in accordance with regulatory requirements:
6.1. Retention Periods
- Customer identification records: 5 years after the relationship ends
- Transaction records: 5 years from the date of the transaction
- Suspicious activity reports: 5 years from the date of filing
- Training records: 5 years from the date of training
6.2. Data Protection
All customer information is protected in accordance with our Privacy Policy and applicable data protection regulations. Access to AML/KYC records is restricted to authorized personnel only.
Confidentiality
All AML/KYC information is treated as confidential. Disclosure is only made to appropriate regulatory or law enforcement authorities as required by law.
7. Training & Awareness Programs
We provide regular AML/KYC training to all relevant employees to ensure they understand their responsibilities and can effectively implement our compliance procedures.
7.1. Training Requirements
- Annual AML/KYC training for all compliance and customer-facing staff
- Specialized training for high-risk areas and new regulations
- Training on recognizing and reporting suspicious activities
- Updates on emerging money laundering trends and typologies
7.2. Culture of Compliance
We foster a culture of compliance throughout our organization. All employees are expected to understand and adhere to our AML/KYC policies and procedures.
8. Policy Review & Updates
This AML/KYC policy is reviewed regularly to ensure it remains effective and compliant with evolving regulatory requirements.
8.1. Review Schedule
- Annual comprehensive review of the entire policy
- Immediate review following significant regulatory changes
- Review following identification of control weaknesses
- Review based on changes in our business activities or risk profile
Continuous Improvement
We are committed to continuous improvement of our AML/KYC framework. Feedback from regulators, auditors, and internal reviews is used to enhance our controls and procedures.
9. Contact & Reporting Procedures
For questions about this policy or to report suspicious activities:
- Compliance Officer: compliance@fxrex.pro
- Suspicious Activity Reporting: sar@fxrex.pro
- General Compliance Questions: Contact Form
- Postal Address: [Your Compliance Department Address]
Important Notice
Do not attempt to notify customers that a suspicious activity report has been filed. Such "tipping off" is prohibited by law in most jurisdictions.
Compliance Acknowledgment
By using FxRex.pro services, you acknowledge that you have read, understood, and agree to comply with our AML & KYC policy requirements.