Anti-money laundering

Anti-money laundering

AG Markets does not tolerate money laundering and supports the fight against money launderers.

AGM has policies in place to deter people from laundering money. These policies include:

Ensuring clients have valid proof of identification;
Maintaining records of identification information;
Determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists;
Informing clients that the information they provide may be used to verify their identity;
Closely following clients' money transactions;
Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.

Money laundering usually follows three stages:

Firstly, cash or cash equivalents are placed into the financial system;
Secondly, money is transferred or moved to other accounts (e.g. futures accounts) through a series of financial transactions designed to obscure the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts);
Finally, the funds are re-introduced into the economy so that the funds appear to have come from legitimate sources (e.g. closing a futures account and transferring the funds to a bank account);
Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. In particular, a trading account can be used to execute financial transactions that help obscure the origins of the funds. AGM direct funds withdrawals back to the original source of remittance, as a preventative measure;
International Anti-money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account and implement a compliance program to deter, detect and report potential suspicious activity.