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AML and KYC

ANTI-MONEY LAUNDERING

ProCapitalMarkets Ltd markets do not tolerate money laundering and support the fight against money launderers. ProCapitalMarkets Ltd markets follow the guidelines set by the UK’s Joint Money Laundering Steering Group. The UK is a full member of the Financial Action Task Force (FATF), the intergovernmental body whose purpose is to combat money laundering and terrorist financing.

ProCapitalMarkets Ltd markets now have policies in place to deter people from laundering money. These policies include:

  • ensuring clients have valid proof of identification;
  • maintaining records of identification information;
  • determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists;
  • informing clients that the information they provide may be used to verify their identity;
  • closely following clients’ money transactions;
  • Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.

Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system in such a way as to make it appear that the funds have come from legitimate sources.

Money Laundering usually follows three stages:

  • firstly, cash or cash equivalents are placed into the financial system;
  • secondly, money is transferred or moved to other accounts (e.g. futures accounts) through a series of financial transactions designed to obscure the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts);
  • And finally, the funds are re-introduced into the economy so that the funds appear to have come from legitimate sources; (e.g. closing a futures account and transferring the funds to a bank account).

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.

ProCapitalMarkets Ltd market directs funds 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 potential suspicious activity.

These guidelines have been implemented to protect ProCapitalMarkets markets and its clients.

For questions/comments regarding these guidelines, please, contact us at: support@procapitalmarkets.com

KYC (Know Your Customer) Policy

Know your customer policies have become increasingly important worldwide lately, especially among banks and other financial institutions, in order to prevent identity theft, money laundering, financial fraud and terrorist activity.

ProCapitalMarkets Ltd Markets holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all related accounts to it will be immediately closed. All funds in these accounts will be forfeited.

Prevention:

ProCapitalMarkets Ltd market aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method.

When you deposit funds we will require the following documents:

  • A copy of your valid passport with the signature page;
  • Copies of your credit cards, used to make the deposit (Front side with only the 4 last digits visible, back side with the CVV covered);
  • A copy of a recent utility bill in your name and address;
  • A signed purchase history of your online transactions;

If you have any questions, please, don’t hesitate to contact our customer support: support@procapitalmarkets.com

When do I need to provide these documents?

We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit.

Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades.

Please, note that if we will not receive the required documents on file, your pending withdrawals will be canceled and credited back to your trading account. We will notify you of such an event via our system.

How can I send you these documents?

Please, scan your documents, or take a high quality digital camera picture, save the image in jpeg, then send it to us via the following email: support@procapitalmarkets.com

How do I know my documents are safe with you?

ProCapitalMarkets Ltd Markets holds the security of documentation at the highest priority and treats all documents with utmost respect and confidentiality. All files we obtain are fully protected using the highest level possible of encryption at every step of the review process.

We thank you for your cooperation in helping us make ProCapitalMarkets Ltd markets a safer place to trade.