Anti-Money Laundring


VVIP FX Policy

VVIP FX has a policy to prevent people from laundering money. These policies include :

  • Ensure the client has a valid proof of identity.
  • Maintain records of identification information.
  • Determine that a client is not known or suspected of being a terrorist by checking their name against a list of known or suspected terrorists.
  • Inform clients that the information they provide can be used to verify their identity.
  • Follow the clients money transactions carefully.


What is Money Laundering?

Money laundering occurs when funds from illegal/criminal activities are transferred through the financial system. Transferred in such a way that it appears that the funds came from a legitimate source.

Trading accounts are one of the vehicles that can be used to launder illicit funds or to hide the true owners of those funds. In particular, trading accounts can be used to make financial transactions that help obscure the origins of funds. VVIP FX directs the withdrawal of funds back to the original source of the remittance as a precaution.

  • First, cash or cash equivalents are placed into the financial system.
  • Second, money is transferred or transferred to another account (eg a futures account) through a series of financial transactions designed to obscure the origin of the money (eg trading with little or no financial risk or transferring account balances to another account).
  • Finally, the funds are put back into the economy so that they appear to have come from a legitimate source (eg closing a futures account and transferring funds to a bank account)

Trading accounts are one of the vehicles that can be used to launder illicit funds or to hide the true owners of those funds. In particular, trading accounts can be used to make financial transactions that help obscure the origins of funds. VVIP FX directs the withdrawal of funds back to the original source of the remittance as a precaution.

International Anti-Money Laundering requires financial services institutions to be aware of potential money laundering violations that may occur in customer accounts, and implement compliance programs to prevent, detect and report potential suspicious activity.