ANTI-MONEY LAUNDERING (AML) POLICY
Bkquote Global Market Limited
No: 2025-00089
The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia
1. INTRODUCTION
2. SCOPE AND APPLICABILITY
This policy applies to:
● All client accounts (individual and corporate).
● All transactions carried out on our trading platform and crypto asset exchange.
● All employees, representatives, and agents of the Company. This policy is aligned with the following international regulations:
● Recommendations of the Financial Action Task Force (FATF).
● Saint Lucia's laws and regulations on anti-money laundering.
● European Union (EU) standards and other relevant jurisdictional regulations.
3. KEY COMPLIANCE PRINCIPLES
The Company adheres to the following key principles to ensure compliance with AML regulations:
3.1. Know Your Customer (KYC)
The Company has implemented KYC (Know Your Customer) procedures to verify the identity of clients and assess the risk associated with each business relationship.
3.2. Detection of Suspicious Activities The Company has established both automated and manual systems to monitor and detect suspicious activities, including unusual transactions or irregular behavior patterns.
3.3. Suspicious Activity Reporting (SAR)
If suspicious activity is identified, the Company will file a Suspicious Activity Report (SAR) with the relevant regulatory authorities in Saint Lucia.
3.4. Freezing and Confiscation of Funds The Company reserves the right to block or confiscate funds and assets if there is a reasonable suspicion that they are linked to illicit activities or violations of AML regulations.
4. KYC PROCEDURES (KNOW YOUR CUSTOMER)
The KYC process includes the following stages:
4.2. Identity Verification The Company verifies the identity of each client through:
● Authenticity checks of submitted documents
● Cross-checking with public and private databases
● Review of international sanctions lists and Politically Exposed Persons (PEP) records
4.3. Client Risk Assessment Each client will be classified according to the level of risk associated with their profile:
● Low Risk – Clients with transparent commercial and legal backgrounds.
● Medium Risk – Clients from high-risk jurisdictions or with complex transactions.
● High Risk – Clients from sanctioned countries or those linked to suspicious activities.
4.4. Ongoing Monitoring The Company continuously monitors accounts and transactions to detect suspicious patterns, including:
● High-volume or unusually frequent transactions.
● Transactions in high-risk or low-banking-secrecy jurisdictions.
● Transfers of crypto assets between multiple wallets without commercial justification.
When assessing how to execute an order, the Company considers the following key factors:
5. SUSPICIOUS ACTIVITIES RELATED TO CRYPTO ASSETS
The Company has implemented specific systems to detect suspicious activities related to crypto asset trading, including:
● Rapid conversion of cryptocurrencies to fiat currencies.
● Structuring transactions to avoid reporting thresholds.
● Use of wallets or exchange platforms in high-risk jurisdictions.
● Transactions involving crypto assets associated with illicit activities (such as Monero or Tornado Cash).
6. SUSPICIOUS ACTIVITY REPORTING (SAR)
If suspicious activity is identified:
● The Money Laundering Reporting Officer (MLRO) will file a Suspicious Activity Report (SAR) with the Financial Intelligence Unit (FIU) of Saint Lucia.
● The client’s account may be temporarily frozen while the suspicious activity is investigated.
● The Company may request additional information from the client to clarify the origin of funds or the nature of the transactions.
7. CLIENT RESPONSIBILITIES
Clients must:
● Provide accurate and up-to-date information during the registration process.
● Not engage in activities that may be considered money laundering or terrorist financing.
● Cooperate fully with requests for information and documentation issued by the Company.
8. EMPLOYEE TRAINING AND AWARENESS
● The Company provides ongoing training to employees on AML policies and detection of suspicious activities.
● All personnel must be aware of the legal and operational obligations related to anti-money laundering.
9. THIRD-PARTY PAYMENTS AND TRANSACTIONS
● The Company will only accept payments from bank accounts or wallets held in the client’s name.
● The Company will not process transactions from or to anonymous accounts or unregulated financial institutions.
● Payments from third parties will be rejected unless properly documented and verified.
10. REGULATORY COOPERATION
● The Company will fully cooperate with law enforcement and regulatory authorities in investigations related to money laundering and terrorist financing.
● The Company will provide access to client records and transaction data when legally required.
11. MODIFICATIONS AND UPDATES
● The Company reserves the right to update or modify this policy at any time to reflect changes in regulations or business practices.
● Changes will take effect on the date they are published on our website.
12. ACKNOWLEDGEMENT AND ACCEPTANCE
By opening an account and using the Company’s services, you acknowledge and accept that you understand and comply with the provisions set forth in this Anti-Money Laundering (AML) Policy.
13. FINAL PROVISIONS
● This policy forms part of the Terms and Conditions of Bkquote Global Market Limited.
● If any provision of this policy is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
● This policy is governed by the laws of Saint Lucia.
● Similar to a stop-loss order, but the stop level adjusts automatically based on favorable market movements.
● An order that must be fully executed immediately or automatically canceled.