anti money laundering
1. Introduction – Definition of Money Laundering
United Gulf Holding – UGHtrade, our policy is to ban watching money laundering and terrorist financing. In particular, and that this commitment is not limited to direct money laundering only, but to any activity that facilitates money laundering as well as financing terrorist or criminal activities in all parts of the world.
The process of money laundering is tantamount to concealing illegally acquired funds or drinks by providing them with legal cover. Hence, UGHtrade company in turn adheres to the laws and rules and even strict principles in everything related to combating money laundering operations, on the part of our company and the side of the employees working in it, as well as our agents, as well as our anti-money laundering policy that includes an increase in terms of investor protection and customer safety services pay all kinds .
On this basis, UGHtrade is committed to preventing any activities that launder money by applying its principles by establishing business relationships and customer transactions, including transactions carried out by brokers or agents if they are authorized as a third party or re-provide our services.
We at UGHtrade constantly monitor the level of exposure to money laundering and terrorist financing. UGHtrade’s anti-money laundering policy is designed to ensure that all employees comply with requirements and obligations in terms of legislation and regulations that are handled by the major global financial services sector, and this is in the midst of action to reduce the risk of financial crime globally.
2. Measures to identify users
UGHtrade is ready to prevent money laundering or terrorist financing, so all managers and employees whose job includes establishing business relationships and making deals with users must implement the specified due diligence measures. This is for transparency and reliability in trading with UGHtrade which helps to prevent risks affecting reputation and even increase financial reliability.
Precautions taken by UGHtrade when conducting business operations:
At UGHtrade it will not include money laundering prevention, we always permanently preliminary strict procedures in all matters related to the principle – know your customer – or as it is known as KYC. This is to ensure compliance with the policy standards that constitute anti-money laundering, and on this basis, we require each customer the following documents and details:
Customer ID: A clear picture of the front and back of the government card or your ID, including: national ID card, valid passport, or driver’s license.
Proof of Customer’s Residence: The official document issued within the last three months that shows the customer’s name and address as registered with UGHtrade. This could be a picture of a basic service bill, such as a phone, electricity or water bill, or a customer’s bank statement. These documents will include the following details:
Full legal name
Customer’s complete residence address
The release date is within the last three months
The name of the issuing or licensing body or authority with the official seal or trademark.
A front and back copy of the customer’s credit card is also required: the last 4 digits of the customer’s credit card must be clear and the last three digits on the back of the card (CVV code) must be covered to ensure your privacy and protection.
Regulatory requirements may vary depending on the client country, as in some cases you may need to request additional documents and documents.
No customer can start trading with us without sending all the required documents and knowledge of KYC and approved by the client, and on this basis any deals that are opened on the trading platforms of our company before receiving the documents will be subject to be canceled immediately, including if they are profitable or Losing will be removed from the account after it is canceled.
Any account will be banned, in case the required documents were not submitted in the agreed period of time.
3. Monitoring by UGHtrade
UGHtrade does not accept any payment or deposit from any party other than the customer, as all deposits must be processed in the customer’s personal name and in accordance with the documents he deposited. Also, all funds withdrawn must be sent to the account through which the deposit was made. This means that the amount deposited via wire transfer will agree to withdraw it to the same account only. Likewise, if the deposit was made by credit card, only the amount will be withdrawn to the same card.
Also, we do not agree to receive cash deposits and withdraw them cash from the customer’s account in our company conclusively.
4. Suspicious Transactions
We are committed to permanently monitoring all suspicious transactions in accordance with your anti-money laundering policy and if it absorbs any doubts, these activities will be carried out by the relevant legal authorities. Also, we have the full right to reject any transfer if we consider that the transfer is of any form suspected of being money laundering, criminal, or terrorist. This will be without our commitment to inform the client of the legal path that will be followed with legal authorities under the anti-money laundering rules.
UGHTRADE is a trading name of Solo Media LTD (220676) incorporated and located Suite 1 , Second Floor , Sound &Vision House ,Francis Rachel Str. Victoria , Mahe , Seychelles.