Anti-Money Laundering Policy
Money laundering means being involved in financial transactions whereby money obtained from illegal activities is converted to money which seems to have been obtained via legal resources. The primary aim of money laundering is to conceal the illegitimate identity of a monetary instrument, including cash. Both local and international laws make it illegal for Binary24 and its employees to be knowingly or unknowingly involved in any such activities where capital has been gained illegally. It is strictly forbidden for any person to use any of the services made available by Binary24 for money laundering purposes, theft, financial fraud or any other illegal activities. To use the Binary24 website is to implicitly agree to uphold the brand’s commitment to legal, honest and transparent trading without exception.
Binary24 follows Anti-Money Laundering (AML) procedures at all times and reserves the right to refuse providing services to any individual/s suspected of entering into or with the intention of entering into illegal activities. We also reserve the right to suspend and close the accounts of those who do not follow all terms and conditions laid out by Binary24 as well as withhold funds and reverse transactions when and where illegitimate activity is detected.
- A photo ID, a document which includes a photo of the customer. This can be a passport, an ID card or a driving license.
- A proof of address, e.g. a bill or any other document which bears the complete name and address of the client. The latter type of document mustn't be older than 6 months.
Our AML policy requires the clients to provide the verification documents prior to a deposit. If requested, additional documentation for identity verification must be provided
- Withdrawals may only be made by the individual under whose name the account was opened.
- If an account is credited by bank transfers, this is the only method by which withdrawals can be made. The name of the bank account holder must match that of the Binary24 account.
- When credit or debit cards are used for deposits, withdrawals may only be made by the individual whose name appears on the card used. Additionally, a copy of the credit card (front and back) will be required. Please remember to cover all but last 4 digits of the credit card number on the front and the CVV number on the back; all other details should be clearly visible.
- One person may open only one account with Binary24 - accounts opened using false names or duplicate accounts of any type will be frozen and closed.
- In the event that an additional proof of identity is requested but cannot be provided by the trader, the account may be frozen and all winnings withheld indefinitely.
Each Binary24 employee, contractor, subsidiary, partner or any other related person shall be made aware of the provisions of the policy. All the Binary24 employees shall be entitled to an annual AML policy training program.