Anti-Money Laundering Policy
GFT is committed to preventing money laundering and complying with all applicable anti-money laundering (AML) laws and regulations. This Anti-Money Laundering Policy outlines our procedures for detecting and preventing money laundering activities.
1. Compliance with AML Laws and Regulations:
GFT is subject to AML laws and regulations in all jurisdictions where we operate. We are committed to complying with these laws and regulations and maintaining the highest standards of integrity and ethics in our business operations.
2. Customer Due Diligence:
We conduct thorough customer due diligence procedures to verify the identity of our clients and assess the risk of money laundering activities. These procedures may include:
- Obtaining identifying information from clients, such as name, address, date of birth, and government-issued identification
- Verifying the identity of clients through reliable and independent sources.
- Assessing the nature of the client's business or relationship with us.
- Monitoring transactions and account activity for suspicious or unusual behaviour.
We have implemented KYC procedures to ensure that we have a clear understanding of our clients' backgrounds, financial activities, and sources of wealth. These procedures may include:
- Obtaining information about the source of funds or wealth of clients
- Assessing the risk profile of clients based on their financial activities and background.
- Conducting ongoing monitoring of client accounts to detect any changes in their risk profile or behaviour
We have procedures in place for reporting suspicious activity to the appropriate authorities. If we have reason to believe that a client is engaged in money laundering or other illegal activities, we will promptly report such activity to the relevant authorities and cooperate fully with any investigations.
5. Deposit and Withdrawal Methods:
To prevent money laundering and ensure compliance with AML regulations, GFT has established the following policies regarding deposit and withdrawal methods:
- The deposit method used by a client must be the same as the withdrawal method.
- The amount of funds withdrawn must be a proportion of the deposited amount. Clients cannot withdraw funds in excess of the amount deposited.
- Clients are not permitted to change their withdrawal method after they have funded their account.
- If a client has used multiple funding methods, any withdrawal requests will be subject to review. The sum amount of the withdrawal must be similar to the sum amount deposited through each method.
For example, if a client deposits $10 through a bank card and $20 through a cryptocurrency wallet, any withdrawal requests must adhere to the following guidelines: - If the client requests a withdrawal of $15, the funds will be withdrawn proportionally from both the bank card and cryptocurrency wallet, respecting the initial deposit amounts.
- The client cannot withdraw $1000 through cryptocurrency if they have only deposited $10 through a bank card.
6. Employee Training and Awareness:
We provide regular training to our employees to ensure that they are aware of their obligations under AML laws and regulations and are equipped to detect and prevent money laundering activities. We also promote a culture of compliance and ethics throughout our organisation.
7. Record-keeping:
We maintain detailed records of our customer due diligence procedures, transactions, and communications with clients. These records are kept confidential and are made available to regulatory authorities upon request.
8. Confidentiality:
We respect the confidentiality of our clients' information and only disclose information to third parties as required by law or regulation.
9. Compliance Oversight:
We have designated compliance officers responsible for overseeing our AML compliance programme and ensuring that our policies and procedures are effective and upo-dadate.
10. Sanctions Compliance:
We comply with all applicable sanctions laws and regulations and screen our clients against relevant sanctions lists.
11. Review and Update:
We regularly review and update our AML policies and procedures to ensure that they remain effective and compliant with evolving laws and regulations.
Chargeback
1. What is a chargeback?
A chargeback occurs when a client disputes a transaction with their bank or credit card issuer and requests a refund. Chargebacks can be initiated for various reasons, including unauthorized transactions, billing errors, or dissatisfaction with the goods or services provided.
2. Client Responsibility:
Clients are encouraged to contact GFT directly to resolve any issues or disputes before initiating a chargeback. We are committed to addressing our clients' concerns and finding a satisfactory resolution whenever possible.
3. Chargeback Process:
If a client initiates a chargeback with their bank or credit card issuer, we will be notified of the dispute. We will then investigate the transaction and provide any necessary documentation to support our case.
4. Dispute Resolution:
We strive to resolve chargeback disputes in a fair and efficient manner. Our goal is to reach a mutually satisfactory resolution that addresses the client's concerns while protecting the integrity of our business.
5. Chargeback Fees:
In some cases, chargebacks may result in additional fees imposed by our payment processors or financial institutions. These fees will be passed on to the client responsible for the chargeback.
6. Fraudulent Chargebacks:
We take fraudulent chargebacks seriously and will vigorously defend ourselves against any unfounded claims. Clients who initiate fraudulent chargebacks may be subject to legal action and may be banned from using our services in the future.
7. Communication and Cooperation:
We encourage open communication and cooperation between GFT and our clients to resolve chargeback disputes in a timely and amicable manner. Clients are encouraged to contact us directly with any concerns or issues before initiating a chargeback.
Contact Us:
If you have any questions or concerns about our anti-money laundering policy or our AML compliance programme, please contact us at support@gftava.com
By using our services, you agree to comply with our anti-money laundering policy and cooperate with our AML compliance programme.