Our AML Policy
Money laundering is the act of converting money or other material values gained from illegal activity (terrorism, drug dealing, illegal arms trade, corruption, human traffic and etc.) into money or investments that appear to be legitimate. Such activity is used because of the illegal source of money and other material values cannot be traced.
The AML/CTF Act applies to persons who provide specified services (known as “designated services”). Persons providing designated services are called “reporting entities”. The AML/CTF Act adopts a risk-based approach. This approach means that the reporting entity will decide how best to identify, mitigate and manage the risk of money laundering and terrorism financing through its business.
In order to confront the penetration of criminal money into state economy and to prevent expansion of terrorist activity, countries carry on a struggle against money laundering and terrorism financing. Financial organizations are one of the easiest of access and convenient instruments that allow legalizing revenue from illegal activity. The increased integration of financial markets and liberty of capital mobility between them make market penetration of criminal capital easier. Thereat IVG Capital applies by-law and programs of its implementation to help international organizations to struggle against money laundering and financing of terrorist activity all over the world.
- IVG Capital documents and verifies identification data of the Client and also logs and tracks itemized statement of all transactions carried out by the Client.
- IVG Capital tracks suspicious transactions of the clients and transactions executed under nonstandard conditions. IVG Capital performs its action on the base of AML FATF recommendations.
- IVG Capital neither accepts cash deposits nor disburses cash under any circumstances.
- IVG Capital reserves the right to refuse to process a transaction at any stage, where it believes the transaction to be connected in any way to money laundering or criminal activity. In accordance with international law IVG Capital is not obliged to inform the Client that it was reported to the corresponding bodies of the Client’s suspicious activity.
IVG Capital is committed to regularly update its electronic system for inspection of suspicious transactions and for verification of client identification records, in accordance with any new regulations as they are promulgated, as well as providing training for its employees on enhancements to anti-money laundering procedures that may be required by new regulations.
THE FOLLOWING DOCUMENTS ARE REQUIRED IN ORDER TO VERIFY YOUR ACCOUNT.
A. GOVERNMENT ISSUED IDENTIFICATION
Color copy of a valid Government issued Photo ID
Examples of accepted Photo ID: Driver’s License/ National Identity Card/ Passport.
Expiration date must be valid. The entire document must be present in the copy uploaded including full name, ID number, photo and expiration date.
B. PROOF OF ADDRESS
Color Copy of a valid Utility Bill as proof of your current address. This can be a payment request/receipt, sent to your legal address, such as Water/ Electric/ Gas/ Internet/ Land Line Phone bill, or a recently issued bank statement. In order for it to be approved, the utility bill/bank statement must be issued within the last 6 months of submission. The entire document must be present in the copy uploaded including your full name, address, issuance date and utility company logo.
C. CREDIT CARD
If a Credit Card was used to fund the account, we require front and back color copies of the Card.
Please follow the guidelines below for any uploaded file:
- The entire card must be visible showing all four corners.
- CC Front has to show the first 6 and last 4 digits of the card, Card Holder name and expiry date (Please cover the middle 6 digits).
- CC Back has to show the signature (please make sure that the middle 6 digits of the card are concealed, since at times it can be read from the back of the card and that the signature is showing).
- Copies which are unclear, cut, or with missing required details (BACK copy without a signature, FRONT without mandatory details) will not be approved.