ANTI-MONEY LAUNDERING (AML) AND KNOW YOUR CUSTOMER (KYC) POLICY

Last updated: 10.08.2024

This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy describes the measures and procedures dragofx.com has adopted to comply with legal requirements aimed at preventing money laundering and terrorist financing. We are committed to ensuring the security of our platform, maintaining the integrity of our services and protecting the interests of our clients and partners.

By using our services, you confirm your consent to this Policy. We reserve the right to make changes to this Policy, which will be published on this page. We recommend that you review this document regularly to ensure compliance.

1. AML and KYC Policy Objectives

The primary objective of our AML and KYC policy is to ensure that our platform is not used for illegal activities such as money laundering, terrorist financing, fraud and other types of financial crime. In accordance with international requirements, we are required to collect and verify information about our customers to prevent abuse and ensure compliance with the law.

2. KYC Requirements

The Know Your Customer (KYC) principle requires us to verify the identity of each customer who uses our services. To do this, we conduct a verification procedure to ensure that:

- The client is the legal owner of the funds provided.
- The funds transferred through our platform are not related to illegal activities.

To pass verification, we request the following documents:

- Passport or other identification.
- Residential address (e.g. utility bill or bank statement).
- A photo of the client to confirm the authenticity of the documents.

We may also request additional documents or information if necessary.

3. AML Procedures

We take the following steps to ensure compliance with our anti-money laundering policies:

- Regularly monitoring all transactions for suspicious or abnormal activity.
- Screening high-risk customers or suspicious jurisdictions.
- Processing and suspending suspicious transactions if indicators of money laundering are detected.
- Referring suspicious transactions to the appropriate government authorities where necessary.

We are also required to conduct regular training for our employees to raise awareness of the risks associated with money laundering and terrorist financing.

4. Customer Screening and Monitoring

We constantly monitor all transactions on the platform and require our users to perform the following mandatory procedures:

- Identity verification during the registration process.
- Source of funds verification in case the client makes large or unusual transactions.
- Updating client data when important information (such as address or source of income) changes.

We also regularly check clients for connections with sanctioned or high-risk countries and organizations.

5. Client Responsibility

Our clients are required to provide current and truthful information upon registration and during use of the platform. Inconsistency or provision of false data may result in account suspension or blocking of funds in the account.

In addition, clients are required to inform us of any changes to their details, such as changes in residential address, sources of income or other circumstances that may affect their ability to comply with KYC and AML requirements.

6. Data Protection

We apply modern data protection methods to ensure the security of our clients information and prevent access by third parties. All client data is stored in encrypted form and only authorized employees have access to it.

7. Company Responsibility

dragofx.com undertakes to:

- Comply with all applicable laws and international standards on combating money laundering and terrorist financing.
- Ensure the confidentiality and security of our clients personal data.
- Provide information about any suspicious transactions to regulatory authorities if required by law.

8. Changes to this Policy

We reserve the right to make changes to this Policy at any time. Any changes will be posted on this page. We encourage you to check this Policy regularly to stay informed of the latest terms.

9. Contact Information

If you have any questions or require further information regarding our AML and KYC policies, please contact us at:

Raffles Place, Tower 2,
Level 19 & 20
Singapore 048616
+65 6808 6288
support@dragofx.com