KYC This requirement extends to obtaining complete information about counterparties-legal entities, the nature of their business and certain business transactions for which a financial transaction is being conducted.
1. This policy of http://www.boxinvesting.com and its affiliates (hereinafter referred to as the “Company”) to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. Company requires its officers, employees and affiliates to adhere to these standards in preventing the use of Company’s Services for money laundering purposes.
2. For the purposes of this policy, money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets.
3. Generally, money laundering occurs in three stages. Cash first enters the financial system at the “placement” stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler’s checks, or deposited into accounts at financial institutions. At the “layering” stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin. At the “integration” stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses. Terrorist financing may not involve the proceeds of criminal conduct, but rather an attempt to conceal the origin or intended use of the funds, which will later be used for criminal purposes.
4. Each employee of Company, whose duties are associated with the provision of products and services of Company and who directly or indirectly deals with Client of Company, is expected to know the requirements of the applicable laws and regulations which affect Client’s job responsibilities, and it shall be the affirmative duty of such employee to carry out these responsibilities at all times in a manner that complies with the requirements of the relevant laws and regulations.
5. To ensure that this general policy is carried out, management of Company has established and maintains an ongoing program for the purpose of assuring compliance with the relevant laws and regulations and the prevention of money laundering. This program seeks to coordinate the specific regulatory requirements throughout the group within a consolidated framework in order to effectively manage the group’s risk of exposure to money laundering and terrorist financing across all business units, functions, and legal entities.
6. Each of the Company’s affiliates is required to comply with AML and KYC policies.
7. All identification documentation and services records shall be kept for the minimum period of time required by local law.
8. All new employees shall receive anti-money laundering training as part of the mandatory new-hire training program. All applicable employees are also required to complete AML and KYC training annually. Participation in additional targeted training programs is required for all employees with day to day AML and KYC responsibilities.
9. Сlient is obliged:
9.1. to respect any requirements of law, including international, directed on fight against illegal trade, financial frauds, washing and legalization of the money received in the illegal way;
9.2. to exclude direct or indirect complicity of illegal financial activities and to any other illegal Operations with use of the Site.
10. Client guarantees a legal origin, legal ownership and availability at Client of the actual right to use of the money transferred by Client to Client’s Account.
11. In case of suspicious or fraudulent cash replenishments, including use of the stolen credit cards and/or any other activities of fraudulent nature (including any returns or cancellations of payments), Company reserves the right to stop provision of Services and to block Client’s Account, and also to cancel results of any Operations performed by Client and to investigate Operations of doubtful nature owing to what to suspend such Operations before clarification of the nature of emergence of money and the end of investigation.
12. During the investigation Company reserves the right to request from Client of the copy of the identity certificate (passport) and bank cards used for account replenishment, the payment, and also other documents confirming legal possession and a legal origin of money.
13. Client is forbidden to receive and use Services and/or the software for any illegal or fraudulent action, or for any illegal or fraudulent Operations (including money laundering) according to the legislation of the country of jurisdiction of Client or Company.
14. Refusal of Company of carrying out suspicious Operations isn’t the basis for any Company’s civil responsibility before Client or other third parties for non-execution of any liabilities in relation to Client.
Identity Verification Guide
If you want to withdraw funds or increase your payment limits, you need to verify your identity. We will ask you to provide us with supporting documents, according to KYC Policy to prevent fraud causes. Verification on BoxInvesting is very simple and intuitive. BoxInvesting asks customers to provide 4 documents in order to complete the verification of their trading account:
1. Identity Document
You can provide us with any government issued document such as passport, ID card, or driving license.
National ID card (both sides) or national passport (first page only);
Driving license (both sides).
Please note, that we accept a driving license as a proof of your identity only if it is a plastic card, and all the information in it is provided with Latin transliteration.
2. Copy of Visa/Master card
A copy of the credit/debit card that was used for transaction
Copies of both sides, front and back, should be provided in color. The middle digits and CVV on the back must be covered; the signature, the card holder name, along with the first 4 and the last 4 digits have to be clearly visible.
3. Utility bill or a bank statement.
A provision of proof of your physical or billing address in country of your residence, which is not older than 3 months, and includes your full name.
Tax return, council tax;
If you do not have any documents from the list above with Latin transliteration, you can provide us with one of the following: Bank statement with your NAME and ADDRESS in English; Confirmation from your work/college/university/care institution that verifies your name, address and details of employment/studies/residency status with a signature and official stamp.
Please, make sure that your scans should correspond with the following requirements:
Documents should be valid due to the issue date (issued within the last 3 months);
Proof of residency must contain your NAME and HOME address;
Proof of residency should be provided in a form of a photo or scanned copy of a PAPER document;
Documents should be issued using the characters of Latin alphabet;
Proof of residency document must contain the DATE of ISSUE.
4. Declaration of Deposit
Declaration of Deposit - is a purchase history of online transactions of a customer. This document proves that a customer have made a deposit by his own free will and that the card he used belongs directly to him! By signing the Declaration of Deposit a customer agree that he is aware of the deposit and authorized it.
This document a customer will receive from the compliance department right after the activation of the trading account.
Scans of Documents
Make sure that your photos/scans meet the following requirements:
Scanned images should be in color and in high resolution;
Allowed formats: JPG, GIF, PNG, TIFF or PDF;
File size should be no more than 10 MB;
Photos/Scans should not be older than 3 months;
Documents should be issued using the characters of Latin alphabet or have Latin transliteration of main fields;
In case of the low-quality of the documents, the Compliance Department has the right to ask you to provide the documents again.
Verification procedure doesn’t usually take long. However, in rare cases, it might take up to 24 hours. Our BoxInvesting team will try to review and approve all the information you have provided as soon as possible. In case you experience any issues, please contact our 24/7 support team.
How to send documents?
You can either send the documents mentioned above to us via email or you can upload them directly from your personal trading account. In order to perform this, all you need is to go to the “My Account” section and click on the “Upload Documents” button.
Why should customer provide us with the requested documents?
According to the international standards for preventing illegal activity and due to the standards of anti-money laundering policy, a customer has to pass the verification procedure.
These documents are requested for both your and our safety. And to make sure that in case you want to make deposit or request a withdrawal of your funds and profit, all the actions are performed exclusively and only by yourself. We are very concerned about the safety of every process involved in our cooperation.
The requested documents are needed for the verification process. Since our company has opened a segregated account for you which is under your name, so that is one of the reason we need a proof of your identity. The security of our clients and reputation is number one priority for our company!