Last Updated: January 1, 2026
1. Introduction
ForexBaap.com is committed to the highest standards of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance. This policy outlines our approach to preventing our platform from being used for money laundering, terrorist financing, or other illegal activities.
Our Commitment
We maintain robust procedures and controls to detect, prevent, and report suspicious activities in accordance with applicable laws and regulations.
2. Policy Objectives
This AML Policy is designed to:
- Prevent the use of our platform for money laundering and terrorist financing
- Establish customer identification and verification procedures
- Implement transaction monitoring and suspicious activity reporting
- Ensure compliance with applicable laws and regulations
- Protect our platform, users, and the integrity of financial systems
3. Know Your Customer (KYC) Requirements
We implement a risk-based approach to customer identification and verification:
Basic Verification
- Email verification
- Phone number verification
- Basic personal information
- Limited transaction limits apply
Advanced Verification
- Government-issued ID verification
- Proof of address (utility bill or bank statement)
- Selfie verification
- Increased transaction limits
Enhanced Due Diligence
- Source of funds documentation
- Additional identity verification
- Background screening
- Required for high-value transactions
4. Customer Identification Program
Before establishing a relationship, we collect and verify:
- Full legal name
- Date of birth
- Residential address
- Government-issued identification number
- Source of funds (for high-value accounts)
5. Transaction Monitoring
We employ sophisticated monitoring systems to detect suspicious activities:
- Automated transaction monitoring for unusual patterns
- Large transaction reporting
- Velocity checks for rapid successive transactions
- Geographic risk assessment
- Behavioral analysis and anomaly detection
Suspicious Activity Indicators
Activities that may trigger enhanced scrutiny include unusual transaction patterns, transactions involving high-risk jurisdictions, structuring attempts, and discrepancies in provided information.
6. Prohibited Activities
The following activities are strictly prohibited on our platform:
- Money laundering or attempted money laundering
- Terrorist financing
- Transactions with sanctioned entities or individuals
- Structuring transactions to avoid reporting thresholds
- Using false or stolen identities
- Processing proceeds from illegal activities
7. Sanctions Compliance
We screen all users against relevant sanctions lists including:
- OFAC (Office of Foreign Assets Control) Specially Designated Nationals List
- UN Security Council Consolidated List
- EU Consolidated List
- Other applicable national and international sanctions lists
8. Record Keeping
We maintain comprehensive records in accordance with regulatory requirements:
- Customer identification documents for a minimum of 5 years after account closure
- Transaction records for a minimum of 5 years
- Suspicious activity reports and related documentation
- Internal investigation records
9. Reporting Obligations
We comply with all applicable reporting requirements:
- Suspicious Activity Reports (SARs) to relevant authorities
- Currency Transaction Reports for transactions exceeding thresholds
- Regulatory reporting as required by applicable laws
10. Staff Training
All employees receive regular AML/CTF training covering:
- Regulatory requirements and obligations
- Red flag indicators and suspicious activity recognition
- Reporting procedures and responsibilities
- Customer due diligence procedures
11. Account Suspension and Termination
We reserve the right to:
- Suspend accounts pending investigation of suspicious activities
- Terminate accounts that violate our AML policy
- Freeze funds associated with suspected illegal activities
- Report suspicious activities to relevant authorities
12. Contact Information
For AML-related inquiries or to report suspicious activities:
Email: compliance@forexbaap.com
All reports will be treated confidentially and investigated thoroughly.