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Anti-Money Laundering

Nostrobank puts a strong emphasis on counter-money laundering and takes it very seriously. The platform strongly abides by the AML terms, and as a prominent and global forex platform, it stands as firm opposition against money laundering. The following protocol has been made with the purpose of keeping any money laundering activities from happening and providing timely information on the matter. Nostrobank encourages its users to read the protocol against money laundering and let us know in case there are any unclear points.

The meaning of money laundering?

The concealment of any illegal money by moving them to a legally valid place or financial institution, unnoticed and hidden from the eye of the law.

It is possible that funds moved to lawful financial institutions by members of terrorist organizations can be used to buy goods or services to be utilized in unlawful actions or to aid other similar activities.

Nostrobank abides by all legal restrictions and is going to notify about all effort of any company, entity or person to hide the possession or source of any funds obtained by unlawful actions. The following are also contained: fraudulent actions, unlawful gambling, stealing, anything drug related and others.

For what reasons do we need to verify your identity when trading?

Every Nostrobank client is obliged to provide verification of his identity along with proven source of income. The client has to give some form of ID in order to verify his name, place of residence and other relevant info.

Which documents are necessary for verifying the identity?

  1. Legal ID document.
  2. Duplicate of a utility payment. It must have the client`s name and address.
  3. The user has to distinctly show the name of the recipient when filling in the Nostrobank contract. The name on the contract should be the same as the one of the account recipient and the one on the identification papers. Also, any withdrawals should go to the same recipient.