Legal Documents (Terms) KYC/AML/CFT Policy

Effective Date: 12,Aug,2022.
These are the policies on personal identification (Know Your Customer [KYC]) and prevention of money laundering and funding of terrorism (anti-money laundering [AML] and combating the financing of terrorism [CFT]) established by FXON, applicable to its use.

1. Our approach

We comply with the rules on personal identification (Know Your Customer [KYC]) and prevention of money laundering and funding of terrorism (anti-money laundering [AML] and combating the financing of terrorism [CFT]) demanded of financial institutions under the laws and regulations of each country. KYC and AML/CFT are comprehensive international frameworks. FXON Ltd., (referred to collectively as the "FXON" hereinafter) employs reasonable methods and the latest available technologies to provide customers with the best possible services, secure and free from any drawbacks, in conformity to KYC and AML/CFT requirements.

2. Risk evaluation and approach

Grounded in a risk-based approach, the FXON identifies, assesses, and takes appropriate mitigation measures for, risks based on the Financial Action Task Force (FATF) as well as the guidelines, laws, and regulations of related countries. We also have established a specialized section of anti-money laundering experts to accurately identify and assess risks, as well as conducting due-diligence review and continual screening of customers to prevent any potential problems.

3. Personal identification procedures

The FXON performs personal identification procedures compliant with the laws and regulations of users' individual countries.

4. Customer screening

To eliminate relationships with antisocial forces or other inappropriate groups, the FXON checks all customers against the World-Check database from Refinitiv.

5. Transaction monitoring

The FXON checks and monitors deposits, withdrawals, and individual transactions. If it detects any suspicious transactions or transactions involving unreasonable frequencies or behaviors, it will take restrictive measures such as temporary suspension or refusal of trade. Furthermore, if FXON judges the transaction to be inappropriate, it may report it to related agencies and organizations without informing the customer.

6. Continual improvements

The FXON strives to improve the effectiveness of its approaches related to KYC and AML/CFT, through periodic inspection.
*World-Check is a registered trademark of Refinitiv.