Money laundering has always been one of the most prevalent issues faced by international finance watchdogs. The criminals involved in integrating “dirty money” into legitimate financial systems often get away undetected, which in turn increases the possibility of the channelization of funds into numerous illicit activities including drug trafficking, pornography and terrorism.
eXbino, a binary options trading company registered by CySec financial supervision commission, recently discussed why it is important for global companies like theirs to follow the existing Anti-Money Laundering laws. The well-acclaimed company raised the need of reporting suspicious online transactions that seem to be financing the next big criminal conspiracy.
“If a criminal or terrorist person(s) transfer their funds into legitimate financial systems, they can then transfer them between banks or financial products to be used for illegal activities, purchasing goods and services,” eXbino stated. “Our Company will report all attempt by an individual or business to hide the origin and ownership of the proceeds of illegal activities, including fraud, drug trafficking, theft, illegal gambling, and other activities.”
eXbino has installed a well-established identity verification protocol while accepting new clients. The company has also been indulged in detecting and reporting any form of suspicious transaction whose purpose seems to be more than just trading binary options.
“In order to prevent Money Laundering,” eXbino adds, “the company requires providing documentation for proof of identity and the origin of their funds before trading with our platform due to placing great emphasis on our customers identity verification, and checking if their funds are derived from a legal origin before they are allowed to make a deposit or trade with us.”
eXbino continues to hold the position of one of the most reliable binary options trading platforms in the eyes of its regulators and clients. It pledges to abide laws and protect its customers from unnecessary troubles.
To know more about eXbino and its binary options trading services, please click here.