KYC / AML

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KYC / AML Policies

Mond Trades Ltd is committed to providing the highest standards in compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws. The aim of the company’s policy against money laundering and terrorism financing is to proactively prevent the risks associated with these issues. In the effort to combat terrorism financing and money laundering activities, the law requires all financial institutions to accurately record and verify the identity of all individuals who open an account.

Mond Trades Ltd under no circumstances accepts deposits or withdrawals via cash. The company reserves the right to suspend transactions of users suspected of engaging in illegal activities.

Mond Trades Ltd will ensure that the counterparty is a real individual or legal entity and is committed to taking all necessary actions in accordance with the current laws and regulations issued by the legal authority.

The AML policy of Mond Trades Ltd is implemented through the following measures:

  • Customer Identification
  • Monitoring Customer Activities
  • Record Keeping

Customer Identification

Due to the company’s commitment to AML and KYC policies, every user must complete a verification process. Mond Trades Ltd ensures that convincing evidence is provided before any collaboration with the customer. Otherwise, other actions will be taken to obtain compelling proof of each customer’s or counterparty’s identity. The company also conducts additional checks for customers residing in countries that do not have adequate anti-money laundering standards or may be at high risk of crime and corruption.

During the registration process, each customer provides their personal information such as full name, date of birth, country of origin, and full residential address. Additionally, one of the following documents is required to verify personal information. It is worth noting that if the documents are written in non-English languages, an official translation of the documents into English is necessary to avoid delays in the verification process.

  • Valid Passport (showing the first page of the local or international passport, with the photo and signature clearly visible)
  • Driver’s License with Photo
  • National ID Card (showing both the front and back of the card)
  • Documents proving the current permanent address (such as utility bills, bank statements, etc.). These documents must include the customer’s full name and residence and must not be older than 3 months from the date of submission.

For corporate clients, if the applicant company is listed on a recognized or approved stock exchange, or if there is independent evidence of the company’s compliance with a listed company, usually no further steps to verify identity are required. If the company is unlisted and none of the key directors or shareholders have previously held an account with Mond Trades Ltd, the following documents must be provided:

  • Certificate of Incorporation
  • Memorandum and Articles of Association 
  • evidence of the registered address of the company
  • Board Resolution to open the account and granting authority to those who will operate it
  • Copies of permissions of attorney or other authorities granted by directors in relation to the company
  • Proof of identity of directors, if dealing with Mond Trades Ltd on behalf of the client (in accordance with the individual identity verification rules explained above)
  • Proof of identity of the ultimate beneficiaries and/or individuals under whose instructions the account signatories are authorized to act (in accordance with the individual identity verification rules explained above)

Monitoring Customer Activities

In addition to collecting customer information, Mond Trades Ltd continues to monitor each customer’s activities to identify and prevent any suspicious transactions. A suspicious transaction is one that is inconsistent with the customer’s legitimate business or with the customer’s normal transaction history known through customer activity tracking. Mond Trades Ltd has implemented a system to monitor such transactions (both automatically and, when necessary, manually) to prevent criminals from using the company’s services.


Record Keeping 

Customer records, including all transaction data, data obtained for identification purposes, and all documents related to money laundering issues, are kept confidential for at least 7 years after the account is closed.

In cases where a user has conducted transactions that Mond Trades Ltd deems suspicious of money laundering or other criminal activities, it will act in accordance with the applicable law and report the suspicious activity to the regulatory authorities. Mond Trades Ltd reserves the right to suspend the operations of any customer that may be deemed illegal or appears to be related to money laundering by the relevant staff. Mond Trades Ltd has full authority to temporarily block the suspicious customer’s account or terminate the existing relationship with the customer. For more information, you can contact us at [email protected].