Anti-Money Laundering
Strong corporate governance isn’t just about our success; It is fundamental to safeguarding our clients and staff. Money laundering, terrorist financing, and other criminal activities pose serious global threats. Financial crime and tax evasion further disrupt international financial stability and market fairness.
TradingLevel created and uses a well-established system of internal controls and risk management processes. Our highly qualified global compliance team ensures adherence to all relevant legislation, safeguarding our clients and actively combating money laundering and terrorist financing.
Compliance through self-assessment
Regular self-assessments are conducted using specialized tools to evaluate our compliance with internal controls, risk management procedures, and applicable regulations. Senior Management and the Board of Directors thoroughly review the self-assessment findings.
Internal audit for continuous improvement
A dedicated Internal audit function ensures the adequacy and effectiveness of our internal controls over processes of risk management and governance, as well as verify compliance with applicable laws and regulations. These controls undergo annual assessments to maintain compliance with evolving regulations.
Investing in training and development
We recognize the importance of ongoing training to keep our staff informed about changing regulatory requirements and best practices. Our employees participate in various programs related to their roles, including governance, risk management, and anti-money laundering (AML) practices.
Mandatory training for key roles
As part of the onboarding process, employees who execute and manage financial transactions undergo mandatory AML and compliance training. Additionally, annual AML refresher courses are required for employees with fiduciary duties.
Qualified compliance professionals
We employ personnel holding certifications and professional memberships from organizations like ACAMS and the International Compliance Association, demonstrating our commitment to AML expertise.
KYC, SOW, and SOF
We verify our clients’ identities and residential addresses by following the best practices for Know Your Customer (KYC), Source of Wealth (SOW) and Source of Funds (SOF) procedures. We also check employment and income details, ensuring deposited funds comply with KYC parameters. This requirement is detailed and reinforced in our Terms & Conditions.
Preventing third-party transactions
To mitigate the risk of money laundering, we do not accept third-party deposits or withdrawals. Deposits are returned to the source whenever possible to prevent the “layering” of illicit funds.
Advanced identity verification
We utilize innovative document authentication technology and electronic databases to combat identity theft, including stolen identities and counterfeit documents. We may use electronic identification methods with public databases, conduct biometric checks, or request “selfie” pictures or video calls for further verification when necessary.
Sanctions screening
We keep client files regularly updated with economic profiles, and conduct checks to ensure none of our clients are Sanctioned or Politically Exposed Persons (PEPs).
Want to read more? You can read the complete AML policy here.