Anti-Money Laundering Policy
Money laundering and the illegal conversion of funds to legitimize criminal proceeds are often facilitated through financial institutions, including non-bank financial entities, stock exchanges, and brokerage firms. Upholding the Anti-Money Laundering Policy is an integral part of xChief's internal procedures. These measures adhere to widely accepted accepted standards and meet the modern regulatory requirements imposed on financial companies.
Anti-money laundering instruments
To prevent the concealment of illegal funds for subsequent use as legitimate capital, xChief conducts thorough client document verification, along with checks on their business reputation and any past criminal convictions or legal judgments.
Client identification procedures during deposit and withdrawal transactions are based on official documents. xChief’s KYC (Know Your Client) policy not only verifies documents but also ensures that clients adhere to the law and take responsibility for the funds used in transactions.
Modern identification technologies are employed to gather necessary client information and monitor their activities on trading accounts. Through a robust record-keeping system, xChief tracks suspicious transactions, enabling prompt provision of information to relevant authorities engaged in anti-money laundering efforts.
xChief does not open deposit accounts and does not handle cash transactions. All monetary transactions are performed through electronic settlements, with comprehensive documentation of all interbank transactions. Additionally, the company reserves the right to suspend fund transfers if there are suspicions of criminal activities. In such cases, xChief commits to providing information to the appropriate state supervisory authorities without prior notification to clients.