Broker’s Anti Money Laundering Policy
MDSS LLC does not accept legitimization of illegally obtained funds and supports the battle against individuals involved in illegal money laundering and financing terrorism.
MDSS LLC commits to stand by AML policies and policies against financing terrorism. In order to help government authorities in their AML policies and policies against financing terrorism, all financial organizations are obliged to collect, check and store data identifying the account holder. For this purpose, MDSS LLC has designed an internal AML policy to battle financing terrorism and legalization of criminally obtained funds.
According to acting legislature and in order to confirm that its business is not being used towards money laundering or financing terrorism, MDSS LLC is taking the following actions:
- Identification and due diligence in client checks.
- Processing identification data.
- Internal control, risk evaluation and risk management aimed at preventing money laundering and financing terrorism.
- Close attention to each transaction which can by its nature be considered especially vulnerable and be associated with money laundering or financing terrorism and in particular to especially complicated and especially large transactions and all other unusual transaction schemes that do not possess any evident economical or legal purpose.
- Informing employees about legislature and internal AML policies in MDSS LLC.
- Continuous education for employees and representatives in order for them to receive skills to identify and manage the transactions that could potentially be linked to money laundering or financing terrorism.
It should be understood that MDSS LLC should not be asked to (and MDSS LLC may not be able to due to current regulations) accept a private person or legal entity as its Client until it receives the entire volume of required documentation which is duly and properly completed by that person or entity and the documentation goes through the required checking process (including Client’s identification for AML policies and good standing checks).
Opening an account with MDSS LLC, Client assumes the following responsibilities:
- Client shall abide by all acting AML policies.
- Client confirms that they do not possess any information or suspicion that the funds deposited to the account previously, currently or in the future may have been obtained illegally or are related to money laundering or any other illegal activity banned by acting legislature or instructions of international organizations.
- Client confirms that they do not possess any information or suspicion that the profit received from investment activity will be used towards financing illegal activities.
Client agrees to immediately provide any information MDSS LLC may require to comply with the current legislature and regulating the demands regarding AML policies.
Broker shall conduct primary and on-going identification checks for Clients according to the potential risk level concerning each client. Broker shall demand minimal information from each client confirming their identification and shall store this information together with means and results of these checks. MDSS LLC singlehandedly and/or through Client Support Center shall inform Client of any mismatch or suspicions discovered during Client identification.
Mandatory set of identification data includes:
1. Client’s full name
2. Client’s date of birth
3. Client’s nationality
4. Client’s identification number
5. Client’s permanent address
6. Client’s professional field
To verify the aforementioned data, MDSS LLC requires the following documents, including but not limited to:
1. Client’s active passport/identification card
2. Client’s national identity (driver’s license etc.)
3. Document, confirming client’s current permanent residency (utility bill, bank statement, etc.)
4. Incorporation documents required to start a legal entity in a given country (for legal entities and sole proprietors).
Also, it is assumed that MDSS LLC reserves the right to introduce additional requirements for funds origin clarification prior to accepting as a Client a person or a group of persons, including those residing in certain countries with an increased risk of money laundering.
During the Client identification process and funds origin check, MDSS LLC relies on a number of identification algorithms including the one where Client may be required to go through a photo identification process. In these cases a designated third party must verify this information.
MDSS LLC also does not accept cash, third party transactions, transfers from currency exchange offices or Western Union transfers and alike. MDSS LLC reserves the right to refuse any deposits coming from the accounts not related to Client or funds withdrawal by a third party.
MDSS LLC is entitled to notify the appropriate state and other related authorities about identified cases of illegal or inappropriate usage of internal transfers.
Complying with these demands is essential for protection of MDSS LLC and its clients. In case of questions/comments about these demands please contact: email@example.com.
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Neither MDSS LLC nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.