Know your customer (English know your customer, abbreviated KYC) – is a term of banking and exchange regulation for financial institutions and other companies working with money individuals, meaning that they must identify and identify the counterparty before conducting a financial transaction.
1. The AML & KYC policy applies to TopTradeGroup (the “Company”), as well as its partners and Clients, and has the goal of preventing and actively preventing money laundering and any other activity that facilitates money laundering or the financing of terrorist or criminal activities. The company requires its managers, employees, and affiliates to follow the principles of this policy to prevent the use of the Company’s services for money laundering.
2. Within the framework of this policy, it is prohibited to conduct actions aimed at concealing or distorting the true origin of funds obtained by criminal means, to launder illegal proceeds.
3. Usually, money laundering occurs in three stages. Initially, at the “placement” stage, cash flows into the financial system, where funds obtained as a result of criminal actions are converted into various financial instruments, such as money transfers, traveler’s checks, or deposited in financial or banking institutions. At the “stratification” stage, funds are transferred or transferred to other accounts or other financial or banking institutions for further purification of funds from their criminal origin. At the “integration” stage, money is returned to the economy and is used to purchase property, finance business, or criminal activity. Funding for terrorism can use funds that are not derived from criminal activity; which can be regarded as an attempt to conceal the origin or intended use of funds that will later be used for criminal purposes.
4. Every employee of the Company whose duties are related to the provision of the Services and who directly or indirectly deal with Clients should be aware of the requirements of the relevant laws and regulations relating to the job duties of an employee of the Company, and such employee will be obliged to continuously fulfill these obligations to the extent complying with relevant laws and regulations.
5. Each subdivision of the Company shall be governed by the policy of AML & KYC, drawn up following the requirements of the applicable law.
6. The Company is obliged to keep all personal and official documents for a minimum period established by the requirements of the applicable law.
7. All new employees of the Company must be trained on the subject of AML & KYC. Existing employees of the Company undergo similar training annually. Participation in additional training programs is mandatory for all Company employees related to AML & KYC.
8. The client undertakes to:
9. The Client guarantees the legal origin, legal possession, and the Client’s current right to use the funds transferred by the Client to the Account.
10. In the event of suspicious or fraudulent cash deposits, including the use of stolen credit cards and/or any other fraudulent activity (including any refunds or cancellation of payments), the Company reserves the right to stop the provision of services and block the Client’s account, as well as cancel any transactions carried out by the Client and investigate transactions of dubious nature, as a result of which the operations are suspended until the nature of the occurrence of funds is ascertained and investigations.
11. During the investigation, the Company reserves the right to request from the Client copies of the identity card and bank cards used to replenish the account, payment, as well as other documents confirming the legal ownership and legal origin of the funds.
12. The client is prohibited from using the services and/or software for any illegal or fraudulent activity, or for any illegal or fraudulent transaction (including money laundering) following the laws of the country in which the client or company is located.
13. The refusal of the company to conduct suspicious transactions is not a reason for the company to incur any civil liability to the client or other third parties for failure to fulfill any obligations towards the client.
To verify the identity of the client, TopTradeGroup asks to provide certain documents, following the international policy of financial organizations “Know Your Client” (KYC policy), to prevent cases of fraud. The verification procedure at TopTradeGroup is very simple and straightforward. The client must provide several documents to complete the trading account verification procedure:
– IDENTITY DOCUMENT
You can provide an identity document issued by a state authority. Such a document is a passport, driver’s license, or temporary residence permit.
Please note that a driver’s license can be taken as proof of identity only if it is a plastic card, and all information in it contains only Latin transliteration.
– CREDIT/DEBIT CARD
A copy of the credit or debit card that was used to deposit money. Copies of the card are made from the front and back. The first 12 digits and the CVV code on the back of the card must be closed, and the signature strip, on which the client’s signature stands, the cardholder’s name, and the last 4 digits of the card must be visible.
– UTILITY BILL
A document confirming the address of the actual location of the client or the address for receiving payments, such as bank statements or utility bills issued in the country of permanent residence, the issuance of which does not exceed 3 months from the date of deposit.
If you do not have documents from this list that contain Latin transliteration, you can provide the following: a bank statement with your name and address; confirmation from your place of work/study with your name, address, and employment/study details with an official signature and stamp.
Please make sure that the documents you provide meet the following requirements:
– DECLARATION OF DEPOSIT
The deposit declaration confirms that the customer made a deposit of his own free will and that the card that was used for the transaction belongs personally to the customer. (The client receives this document immediately after the activation of the trading account).
– SCANNED COPIES OF DOCUMENTS
Make sure your photos or scanned copies of documents meet the following requirements:
The verification procedure usually does not take much time. However, in some cases, it may take up to 24 hours. Our Verification Department will do everything possible to review and accept the information provided by you as soon as possible. In case of any difficulties, please contact our round-the-clock customer support.