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In terms of law, money laundering means legalizing the proceeds of crime, i.e. actions that conceal the source of funds in order to make their nature lawful.

Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be traced.

Anti-money laundering (AML) incorporates a complex of measures aimed at prevention of use of the financial system of the country or any specific financial institution for money laundering or terrorist financing. Such measures and instruments are worked out and implemented by international and national institutions, banking and business community.

To combat money laundering TRADY employs the following:

  1. Identifying and verifying customer identity.
  2. Retaining customer documents and IDs for a designated time.
  3. Monitoring transactions.
  4. Money laundering activities are reported to the proper authorities.
  5. The staff is regularly trained and educated in Anti Money Laundering regulations.
  6. Allow ONLY to withdraw on the same payment method and account which is used to fund/deposit into the TRADY.
  7. Enhanced Due Diligence is exercised on high turnover customers and/or potential suspicious customers/transactions.
  8. Improves the AML procedures continuously to monitor unlawful financial schemes.
  9. Reserves the right to refuse to process a transaction at any stage, when we believe that the transaction is associated with money laundering or other criminal activity.
  10. Collecting identification data of every client, as well as IP addresses, online activity, communications in general and all transactions carried out by the client.

TRADY tracks, including auto-monitoring and auto-controlling, suspicious activities of the clients and transactions executed under unusual conditions. This includes, but not limited to, transactions that do not make economic sense, unexplained large transactions, transactions involving unidentified parties, investments related transactions of unclear nature. TRADY reserves the right to ask supporting documentation for the suspicious transactions.

Please note that TRADY has the right to recall a transaction due to suspicion that it may be connected to money laundering or any other criminal activity. Providing false verification documents or contact details will be treated as a misuse of our terms of service and you may be the subject to a criminal investigation. TRADY will not do business with anyone suspected of or directly involved in money laundering or where funds have been sourced by any illegal activity.

TRADY complies with the legal requirements of the Government for anti-money laundering. In cases set forth in the relevant legal enactments, we co-operates with officials and government institutions of the Dominica, as well as other countries.

Note
For genuine member with having valid source of funds, nothing to worry with Anti-money laundering (AML) policy

TRADY, Compliance Dept.