anti money laundering
Anti-money laundering is focused on strongly at PIPSFX. We are in strict compliance to the AML (Anti-Money Laundering) polices, and as an international broker of good repute, we take a forceful position against money laundering. In order to prevent any suspicious activities or money laundering, these polices were enacted to prevent and report them. We advise you to familiarize yourself with our anti-money laundering policy, and encourage you to contact us with any queries.
What is money laundering?
The disguise of illicit funds by transfer to a legitimate location or financial system, without garnering attention from the authorities, is a process known as money laundering.
Money transferred to legitimate financial systems by criminal or terrorist person(s) can then be sent between financial products or banks in order to purchase goods and services, use in illegal activities, or to fund terrorism.
PIPSFX adheres to the laws and regulations, and will report any and every attempt by a business or individual to conceal the ownership or origin of the proceeds of illegal activities. This includes fraud, illegal gambling, theft, drug trafficking, and other activities.
Why is proof of your identity needed for your trading account?
Supporting documents for proof of identity and the legal origin of their funds is required from all PIPSFX customers. You will be required to provide legal documentation confirming verification of your name, location, and personal information as part of this policy.
What is required as proof of identity?
- Passport or ID copy.
- Utility bill copy. This should include your full name and address.
- You will be requested to clearly indicate the beneficiary name on the PIPSFX customer agreement. The name on your customer agreement form must match that of your account beneficiary, and in the proof of identity documentation. Funds you withdraw must be to the same beneficiary.