Preventing Money Laundering

1. Definition of money laundering

The process of converting funds, received from illegal activities (such as fraud, corruption, terrorism, etc.), into other funds or investments that look legitimate to hide or distort the real source of funds.

Modern society encounters a major challenge in anti-money laundering, which is defined as making the possession, use, or disposal of money or other property obtained from criminal activities appear legal, and terrorism financing, which is providing or gathering money or rendering financial services with the knowledge that the money is intended to finance the organization, preparation for, or execution of terrorist acts or to support them.

Illegal earners take many steps to legalize. They may use stolen personal data. Fraud victims who are not participating in these parties’ unlawful behavior may face this predicament.

2. Laws against money laundering

Aleosgm MARKETS is committed to the highest standards of Anti-Money Laundering (AML) compliance and Counter-Terrorism Financing (CTF). To help the government fight the funding of terrorism and money laundering activities, law requires all financial institutions to obtain, verify, and record information that identifies each person opening an account. 

3. Client identity verification procedure

Aleosgm MARKETS will make sure that it is dealing with a real person or legal entity. Aleosgm  MARKETS also performs all the required measures in accordance with applicable law and regulations, issued by monetary authorities.

The AML policy is being fulfilled within Aleosgm MARKETS by means of the following:

know your customer policy and due diligence

monitoring of client activity

record keeping

Therefore, Aleosgm  MARKETS requires you to collect the following documents; Proof of identification such as passport or driver's license, Proof of residency.

The company verifies all clients due to its AML and KYC requirements. Before working with a client, Aleosgm  MARKETS requires adequate proof of identity or other procedures. The company also scrutinizes clients and beneficial owners from countries identified by credible sources as having inadequate AML standards or a high risk for crime and corruption.

4. Compliance with the Privacy Agreement

The personal data we receive is treated in accordance with the terms of the Privacy Agreement. Please keep in mind that the purpose of the identification procedure is to comply with laws against money laundering and financing terrorism, not because we suspect you of conducting unlawful acts. As a result, your cooperation and awareness of these measures is required to effectively combat money laundering and terrorism financing.

5. Measures taken

In cases of an attempt to execute transactions which Aleosgm  MARKETS suspects are related to money laundering or other criminal activity, it will proceed in accordance with the applicable law and report suspicious activity to the regulating authority. Aleosgm  MARKETS reserves the right to suspend any client’s operation, which can be regarded as illegal or may be related to money laundering in the opinion of the staff. Aleosgm MARKETS has complete discretion to temporarily block the suspicious client account or terminate an existing client relationship.