KYC (Know Your Customer) Policy
Know your customer policies have become increasingly important worldwide lately, especially among banks and other financial institutions, in order to prevent identity theft, money laundering, financial fraud and terrorist activity.
Affluent Trade holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all related accounts to it will be immediately closed. All funds in these accounts will be forfeited.
Affluent Trade aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method. When requesting a withdrawal from your account, we may need you to provide us with appropriate proof of identity, which may include the following (and possibly other) documents:
- Color copy of your valid Government-Issued ID (e.g. passport, driver’s license, ID card).
- Color Copies of your credit/debit cards, both front and back sides, with first twelve numbers covered, clearly showing the name and expiry date on the front and the signature and covered CVV on the back, used to make the deposit.
- Copy of a recent utility bill or bank statement with your name and address (no more than 3 months old).
- A signed copy of the “Declaration of Deposit” form. You will receive this form after every deposit from [email protected]
All four corners of the documents must be clearly visible with no alterations to the documents.
If the name does not appear on the card, we do need to see official evidence that the card belongs to the client.
If the card belongs to another person, the Cardholder must provide their ID and a utility bill before verification can be completed, and the
Cardholder is responsible for signing the Declaration of Deposit Forms confirming a deposit has been made with the card used.
*** Please note that if one or all of your documents are rejected by Affluent Trade Compliance, we will then require you to submit the documents again.
If you have any questions please don’t hesitate to contact our customer support: [email protected]
What will happen if I do not provide any documentation?
If you decide that you do not wish to provide your documents in accordance with our Terms and Conditions and FCA guidance, we may not be able to provide you with the level of security your account deserves. It will also inevitably delay any withdrawal process you may wish to undergo, as we will be obliged to do a private background check at our cost, in order to determine who you are and to be satisfied that the funds will be credited correctly to your account.
These checks are done in conjunction with AML rules under FATF The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognized as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.
You must be sure that you are able to confirm your identity by the provision of documents as required. If you are unable to do so, this may prevent the activation of an account with Affluent Trade.
When do I need to provide these documents?
We follow the regulations as stated by the FCA and FSA with regards to documentary verification.
We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions to your benefit. If you have not provided these documents before a deposit is made, they must be supplied as soon as practically possible after the deposit.
Not supplying documents does not detract from the fact that the account is opened as soon as funds have been deposited into your account with Affluent Trade.
Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades. Please note that if we do not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account. We will notify you on such event via our system.
How can I send you these documents?
Please scan your documents, or take a high quality digital camera picture, save the images as jpegs, then upload the files and send it to us via mail to [email protected]
How do I know my documents are safe with you?
Affluent Trade has in place a highly complex security infrastructure and treats security of documentation as our main priority. We handle all documents received with the utmost respect and confidentiality. All files we obtain are protected at the highest encryption level possible at every step of the review process.
We thank you for your cooperation in helping us make Affluent Trade a safer place to trade.