Anti Money Laundering Policy
The United Trading Lmtd – Vega One Trading LLC
United Trading LTD and Vega One Trading LLC have the authority to retain client funds. That authority gives United Trading LTD and Vega One Trading LLC the corresponding responsibilities, including the appropriate anti-money laundering procedures. Anti-money laundering policies have been developed to ensure that company personnel comply with applicable laws and regulations when providing currency services to clients.
AML / KYC policy covers the following matters:
- Compliance officer
- Tracking transactions
- Verification procedures.
One of the international standards to prevent illegal activity is customer due diligence (“DDC”). According to CDD, United Trading establishes its own verification procedures within the standards of the anti-money laundering frameworks and “Know your customer” (KYC).
1.1. Identity verification.
The United Trading Identity Verification Procedure requires the User to provide United Trading with reliable and independent documents, data or information (for example, national identification, international passport, bank statement, utility bill). For such purposes, United Trading reserves the right to collect User identification information for the purposes of the AML / KYC Policy.
United Trading will take steps to confirm the authenticity of the documents and information provided by Users. All legal methods will be used to verify identifying information and United Trading reserves the right to investigate certain Users who have been determined to be risky or suspicious.
United Trading reserves the right to verify the User’s identity on an ongoing basis, especially when their identifying information has been altered or their activity appears to be suspicious (unusual for the particular User). Furthermore, United Trading reserves the right to request updated documents from Users, even though they have passed identity verification in the past.
Once the User’s identity has been verified, United Trading may withdraw from possible legal liability in a situation where its Services are used to carry out illegal activities.
- Compliance officer.
The Compliance Officer is the person, duly authorized by United Trading, whose duty is to ensure the effective implementation and compliance with the AML / KYC Policy. It is the responsibility of the Compliance Officer to oversee all aspects of United Trading against money laundering and anti-terrorist financing, including, but not limited to:
- Collection of user identification information.
- Establish and update internal policies and procedures for the completion, review, presentation and retention of all reports and records required by applicable laws and regulations.
- Monitor transactions and investigate any significant deviations from normal activity.
- Implementation of a records management system for the proper storage and retrieval of documents, files, forms and records.
- Update the risk assessment regularly.
- Provide law enforcement officials with the information required by applicable laws and regulations.
The Compliance Officer has the right to interact with law enforcement, who are involved in preventing money laundering, terrorist financing, and other illegal activities.