SparkFX LTD Group is committed to the highest standards of compliance against money laundering (AML) and anti-terrorist financing (CTF). The objective of the Companies Policy against Money Laundering and Terrorism Financing is to actively prevent the risks of these matters.

Money Laundering

The process of converting funds received from illegal activities (such as fraud, corruption, terrorism, etc.) into other funds or investments that appear legitimate to hide or distort the actual source of funds.

• Placement: At this stage, the funds are turned into financial instruments, such as checks, bank accounts, and money transfers.
• Layering: The funds are transferred or moved to other accounts and other financial instruments.
• Integration: The funds are re-circulated as legitimate to purchase goods and services.

SparkFX LTD adheres to the principles of Anti-Money Laundering and actively prevents any action that targets or facilitates the legalization process of illegally obtained funds.

Company Procedures

SparkFX LTD will ensure that it is a real or legal person. The AML policy is being met within FX of SparkFX LTD by the following means:

• Know your client's policy and due diligence
• Monitor customer activity
• Registry maintenance

Know Your Customer

Due to the company's commitment to AML and KYC policies, each company customer must complete a verification procedure.

Individual Clients

During the registration process, each client provides personal information, specifically: full name, birthdate, country of origin, and full residential address. The following documents are required to verify personal information:

• Valid passport, driving license, or national identity card
• Documents proving current permanent address (e.g., utility bills, bank statements, etc.)

Corporate Clients

In the event that the applicant company is not listed on a recognized stock exchange, the following documentation must be provided:

• Certificate of incorporation or any national equivalent
• Memorandum and Articles of Association
• Proof of the company's registered address
• Resolution of the board of directors to open an account

Tracking Customer Activity

SparkFX LTD Group continues to monitor the activity of each customer to identify and prevent any suspicious transactions.

Registry Maintenance

Records must be kept of all transaction data and data obtained for identification purposes, as well as all documents related to money laundering issues. Those records are kept for a minimum of 7 years after the account is closed.

Measures Taken

In cases of an attempt to execute transactions that SparkFX LTD Group suspects are related to money laundering or other criminal activity, it will proceed in accordance with applicable law and report the suspicious activity to the regulatory authority.

For more information, you can contact us at info@spkfx.com.