WaveTrade is dedicated to upholding the highest standards of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance. We operate under a strict legal and regulatory framework that obligates all financial institutions to assist in the fight against money laundering and terrorist financing. This includes verifying the identity of our clients, monitoring transactions, and reporting suspicious activities.

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What is Money Laundering?

Money laundering is the process of disguising the financial proceeds of criminal activity to make them appear legitimate. This process typically involves three stages:

1. Placement: Introducing illicit funds into the financial system, for example, by depositing cash into bank accounts or purchasing financial instruments.
2. Layering: Conducting complex layers of financial transactions to obscure the origin of the funds. This often involves moving funds between different accounts and across various jurisdictions.
3. Integration: Re-introducing the "cleaned" funds into the economy as seemingly legitimate money, often used to purchase goods, services, or assets.

WaveTrade has a zero-tolerance policy towards money laundering, terrorist financing, and other related criminal activities. We are committed to preventing our services from being used for such purposes.

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Company Procedures

Our AML/CTF framework is built on a risk-based approach and is implemented through the following core procedures:

• Client Identification and Due Diligence ("Know Your Customer")
• Ongoing Transaction Monitoring
• Comprehensive Record Keeping

1. Know Your Customer (KYC) and Due Diligence

To comply with global AML/CTF regulations, every WaveTrade client must complete a verification process before opening an account and commencing trading activities. Our KYC process is designed to verify the identity of our clients and assess their risk profile.

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We require satisfactory evidence of identity for all customers. Enhanced due diligence is applied to clients who are residents of, or whose funds are sourced from, countries identified by credible sources (e.g., FATF) as having inadequate AML/CTF standards or representing a high risk for crime and corruption.

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Individual Clients

During registration, you must provide accurate personal information, including:

• Full Name
• Date of Birth
• Country of Citizenship and/or Residence
• Full Residential Address

To verify this information, you will be required to submit the following documents:

• A clear, colour copy of a valid government-issued photographic ID, such as:
  • Passport (photo page)
  • National Identity Card (both sides)
  • Driver's License (both sides)
• A recent proof of address document, issued within the last 3 months, such as:
  • Utility bill (electricity, water, gas)
  • Bank or credit card statement
  • Tax authority statement

All documents not in English must be accompanied by a certified translation.

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Corporate Clients

For corporate entities, the required documentation includes:

• Certificate of Incorporation or Registration.
• Memorandum and Articles of Association.
• Certificate of Good Standing (where applicable).
• A register of directors and beneficial owners (identifying those with >10% ownership or control).
• A resolution of the board of directors authorizing the opening of the account and identifying the individuals authorized to operate it.
• Proof of identity and address for all authorized persons, directors, and beneficial owners (as per the Individual Clients requirements above).

2. Monitoring of Client Activity

WaveTrade employs a sophisticated system to monitor client transactions on an ongoing basis. This automated system, complemented by manual reviews, is designed to detect patterns of activity that are unusual or inconsistent with a client's known profile, trading history, or legitimate business. Transactions that raise suspicion will be investigated and may be reported to the relevant financial intelligence unit.

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3. Record Keeping

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WaveTrade will maintain all relevant records for a minimum period of seven (7) years after the business relationship has ended or after the date of the occasional transaction. This includes:

• All data obtained for identification purposes.
• All transaction records.
• Records of any suspicious activity reports and related investigations.

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Deposit and Withdrawal Requirements

To mitigate the risk of money laundering, WaveTrade enforces strict rules regarding the movement of funds:

• No Third-Party Payments: All deposits and withdrawals must be made from and to payment methods held in the exact same name as the WaveTrade trading account. We do not accept or send funds to/from third parties.
• Consistency of Payment Methods: Funds deposited via a specific method (e.g. Credit Card, Bank Wire, Skrill, Neteller) may be subject to withdrawal to the original source of funds.
• FIFO Principle (First-In, First-Out): Withdrawal requests are processed based on the order and method of original deposits. For example:
  • Example 1: You deposit $200 via Credit Card and earn a profit of $800. Requesting a withdrawal of $1,000, you will receive $200 back to your Credit Card and the remaining $800 to your verified bank account.
  • Example 2: You deposit $150 via Skrill and $50 via Bank Transfer. Requesting a withdrawal of $170, you will receive $150 to your Skrill account and $20 to your bank account.
• Withdrawal Verification: For security purposes, initial withdrawal requests may require the submission of a recent bank statement (or equivalent for other payment methods) to confirm ownership of the destination account.
• Unattributable Funds: If funds are deposited from an unverified or unattributable source, WaveTrade reserves the right to return the funds to their originating source, subject to the client providing satisfactory evidence of ownership.

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Measures Taken

If WaveTrade identifies or has reasonable grounds to suspect that a transaction is related to money laundering, terrorist financing, or other criminal activity, we are legally obligated to take action. This includes, but is not limited to:

• Reporting the suspicious activity to the relevant regulatory and financial intelligence authorities.
• Immediately blocking or suspending the client's trading account.
• Rejecting the transaction in question.
• Terminating the business relationship with the client.

WaveTrade reserves the full and unconditional right to decline a business relationship or suspend/terminate an existing relationship at any time if it is deemed necessary to comply with our AML/CTF obligations.

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For general inquiries that do not constitute a formal complaint, please contact our main support team at support@wavetrade.com.