AML) Anti Money Laundering (AML) Money laundering is the process of concealing the source of obtained money. There are many methods of money laundering and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount of money laundered, either worldwide or within their national economy. In 1996 the International Monetary Fund estimated that two to five percent of the worldwide global economy involved laundered money. However, the Financial Action Task Force on Money Laundering (FATF), an intergovernmental body set up to combat money laundering, stated that "overall it is absolutely impossible to produce a reliable estimate of the amount of money laundered and therefore the FATF does not publish any figures in this regard". Regardless of the difficulty in measurement, the amount of money laundered each year is in the billions (US dollars) and poses a significant policy concern for governments. As a result, governments and international bodies have undertaken efforts to prevent and apprehend money launderers. Maxim Trader Limited has likewise undertaken efforts to prevent and detect transactions involving dirty money, both as a result of government requirements and to avoid the reputational risk involved. Why do I need to verify my identity? Criminals prefer not to use their real names or addresses for the purchase of financial products or services or to open bank accounts. It would be too easy, in fact, for the governmental authorities to trace the money and lead back to them. For this, the criminals use false identities and addresses. They could also try to buy a product or open an account using a different identity. It is for this reason that companies offering financial services like Maxim Trader Limited have a responsibility to make sure that the identities of our clients are verified and authenticated before allowing the clients to fund into an account and to purchase our products or financial services. What kind of identification and information do you need to provide to Maxim Trader Limited? • A copy of an identity document or passport. The document submitted must show a clear picture of you as well as the address that you reside at. • A billing address, such as a utility bill or any statements with a current date that shows that you are residing in that address. • A signed copy of Maxim Trader Limited agreement, which can be downloaded from the download section in maximtrader.com. Please keep in mind that due to the rules on money laundering that have after Maxim Trader Limited will verify your identity and retain copies of the documentation that you have provided. If it is not possible to verify your identity, Maxim Trader Limited cannot provide its services and/or provide its products. Due to anti-money laundering regulations we CANNOT ACCEPT cash deposits or bank transfers made by third parties. We will make NO EXCEPTION from this rule. YOU WILL BE CHARGED all banking and administrative costs to return any such payment.
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