The objective of the procedures concerning this policy is that Trader-coins seeks to ensure that the Clients engaging in certain activities are identified by certain standards while minimizing the compliance burden and impact on legitimate Users.
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. Domestic and international legislation which is applied to the companies, whose Clients can deposit and withdraw funds from their accounts, make it illegal for Trader-coins, or its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction of criminally derived property.
Trader-coins assists the government in anti-laundering procedures and financing terrorist activities around the world. For that purpose, Trader-coins has set up a highly sophisticated electronic system. This system documents and verifies Client identification records and tracks and maintains detailed records of all transactions.
Trader-coins closely monitors the suspicious and main operations within the deals and reports on such actions “providing up-to-date and complete information” to the law enforcement agencies. To maintain a proper functioning of reporting systems and to protect business legislative frameworks grant legal protection to those who provide such information.
In order to minimize the risk of money laundering and financing terrorist activities, Trader-coins neither accepts cash deposits nor disburses cash under any circumstances.
Trader-coins reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity. For the avoidance of any doubt, Trader-coins may detain or postpone payments for a set period of time at its own discretion. It is forbidden for Trader-coins to inform Clients that they have been reported for suspicious activity.
For the purpose of complying with Anti-Money laundering laws, trader-coins.com requires two different documents to verify the identity of the Client.
The first document we require is a legal government-issued, identifying document with the photo of the Client on it. It may be a passport, driver’s license (for countries where the driver’s license is a primary identification document) or local ID card.
The second document we require is a document with the Client’s actual residence/registration address. It may be a utility bill, a bank statement or any other document with the Client’s name and address from an internationally recognized organization.
DEPOSITS AND WITHDRAWALS
Original Client’s name in all deposits shall correspond the one fixed in our records. Third party payments are not accepted.
As for withdrawals, money may be withdrawn from the same account and by the same way it was received. For withdrawals where the name of the recipient is present, the name must exactly match the name of the Client in our records. If the deposit was made by wire transfer, funds may be withdrawn only by wire transfer to the same bank and to the same account from which it originated. If the deposit was made by means of electronic currency transfer funds may be withdrawn only by the means of electronic currency transfer through the same system and to the same account from which it originated.