AML & KYC Policy

This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines the procedures and controls adopted by VSL Markets Ltd (“Company,” “we,” “our,” “us”) to prevent and mitigate risks associated with money laundering, terrorist financing, fraud, and other illicit financial activities.

1. Objectives

The Company is committed to:

1. Complying with all applicable AML/CFT (Countering Financing of Terrorism) regulations.
2. Verifying the identity of Users.
3. Monitoring transactions for suspicious activity.
4. Reporting suspicious activity to relevant authorities, when required.

2. Customer Identification (KYC)

1. Registration Information:
   • Full name
   • Date of birth
   • Residential details
   • Contact details (email, phone)
2. Identity Verification Documents:
   • Valid government-issued photo ID (passport, driver’s license, or national ID card).
   • Proof of address (utility bill, bank statement, or official correspondence not older than 3 months).
3. Enhanced Due Diligence (EDD):
   • Applied to high-risk customers, such as politically exposed persons (PEPs), or residents of high-risk jurisdictions.
   • Additional documentation and verification may be required.

3. Account Monitoring

1. The Company continuously monitors transactions to identify unusual patterns or activities inconsistent with a User’s profile.
2. Suspicious activities may include:
   • Multiple deposits/withdrawals inconsistent with the User’s trading activity.
   • Attempts to withdraw funds to third-party accounts.
   • Use of anonymous payment methods (e.g., prepaid cards, cryptocurrencies if not permitted by regulations).
   • Structuring transactions to avoid reporting thresholds.

4. Deposit and Withdrawal Policies

1. Funds may only be deposited from accounts or payment methods registered in the User’s name.
2. Withdrawals must be made back to the same source of funds, whenever possible.
3. The Company reserves the right to delay or refuse withdrawals until verification is complete.
4. Any third-party payments will be rejected.

5. Record Keeping

1. All KYC and transactional records are maintained for a minimum of 5 years (or longer if required by law).
2. Records include identification documents, transaction history, and communications with Users.

6. Reporting Obligations

1. The Company may report suspicious activities to financial intelligence units (FIUs) or regulatory authorities.
2. Users are not entitled to be informed of such reports (non-disclosure as required by law).

7. Employee Training

1. Employees are trained to recognize suspicious activities and comply with AML/KYC obligations.
2. Ongoing training ensures staff remain updated on regulatory changes and industry best practices.

8. User Responsibilities

By opening an account, you agree to:

• Provide accurate and truthful information.
• Submit valid documents for identity verification.
• Not engage in or attempt money laundering, terrorist financing, or fraudulent activities.
• Cooperate fully with any AML/KYC requests from the Company.

9. Non-Compliance

1. Failure to provide required documentation may result in account suspension, restrictions, or termination.
2. The Company reserves the right to withhold funds in cases of suspected fraudulent or unlawful activity.

10. Policy Review

This AML/KYC Policy is reviewed periodically and updated to ensure compliance with current laws and regulations.