Cyber FX does not tolerate money laundering and supports the fight against money launderers. Cyber FX has policies in place to deter people from laundering money. These policies include:
Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system. It is moved in such a way as to make it appear that the funds have come from legitimate sources.
Money Laundering usually follows three stages:
Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. In particular, a trading account can be used to execute financial transactions that help obscure the origins of the funds. Cyber FX directs fund withdrawals back to the original source of remittance as a preventative measure.
International Anti-money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account, and implement a compliance program to deter, detect and report potentially suspicious activity.
These guidelines have been implemented to protect Cyber FX and its clients.
For questions/comments regarding these guidelines, contact Cyber FX Compliance at [email protected].