Having good governance is imperative to protecting our clients and staff, as well as to ensure our organization's success. Money laundering and the illicit financing of crime and terrorism have been highlighted by governments around the world as major problems. On the other hand, financial crime and tax evasion destabilize international financial institutions.
At Tradex.live, we have strong internal controls and risk management procedures in place, including pre-trade and post-trade fraud detection. Our highly qualified global compliance teams ensure that we follow all applicable laws to protect our customers and assist in the fight against money laundering and terrorism funding.
We use self-assessment methods to verify our compliance with internal controls, risk management systems, and applicable requirements. Regular analysis of the results of the self-assessments is conducted by senior management and the Board of Directors.
We understand the need for continuing education and training in order to stay current with regulatory standards and best practices. As part of their training, our employees are exposed to a wide range of training programs, such as governance, risk management, and anti-money laundering.
In order to stay abreast of prudential requirements and best practices, we recognize the value of training and development. There is a variety of training that staff attends related to their roles, including anti-money laundering, governance, and risk management classes.
Moreover, as part of our induction process, we ensure that employees who execute or manage financial transactions receive rigorous anti-money laundering and compliance training. Employees with fiduciary responsibilities must also take an anti-money laundering refresher course every year.
Organizations such as the Association of Certified Anti-Money Laundering Specialists (ACAMS) and the International Compliance Association should certify employees.
Neither third-party deposits nor third-party withdrawals are accepted by us. Whenever possible, deposits are returned to the source in order to prevent fraudulent proceeds from being layered.
Third-party deposits and withdrawals are not accepted. The source of all deposits is returned, where possible, to prevent fraudulent proceeds from being layered.
Furthermore, we use cutting-edge document authentication technology and computerized databases to reduce the danger of identity fraud, such as the use of stolen identities and counterfeit documents. To authenticate a client’s identity, we shall use electronic identification methods using publicly available databases, conduct biometric checks, and/or request video calls or “selfie certs”.
On a regular basis, we update our clients' files with details of their financial backgrounds. We also verify whether individuals are sanctioned, politically exposed, or carrying negative media.
A full-time independent auditor is hired every year to assess the company's internal controls, risk management, and governance systems, as well as compliance with applicable rules and regulations. Furthermore, we conduct annual audits to assure that our systems and procedures are sound and compliant with industry standards and best practices.