Compliance/AML
Our organisation places good governance at its core
Not only does good governance contribute to the success of our organisation, but it is also critical to the security of our clients and staff. Governments across the globe have recognised money laundering, money financing of criminal activities, and terrorism as significant risks. In addition, financial crime and tax evasion undermine offshore financial systems and distort markets.
Pre-trade and post-trade fraud detection systems are contained within the robust risk management processes and effective, well-established system of internal controls that Volity maintains. Assisting in the fight against money laundering and the financing of terrorism while safeguarding our clients, our qualified global compliance teams ensure that we adhere to all applicable laws.
Volity's internal governance procedures
Self-assessment
We evaluate our adherence to relevant regulations, risk management procedures, and internal controls using self-assessment tools.
Internal Audit
Keep up a competent internal auditing department that assesses the degree of compliance with relevant laws and regulations.
Education and Training
We acknowledge that staying current with prudential requirements and best practices requires essential training and development.
Mandatory training
Furthermore, we mandate anti-money laundering and compliance training for staff members who oversee and manage financial transactions.
Awareness
Our staff members are credentialed with professional memberships and certificates from international organisations.
KYC, SOW, and SOF
As a requirement of our licences and in compliance with Know Your Customer (KYC), Source of Wealth (SOW), and Source of Funds (SoF).
No third-party transactions
We don’t take deposits from or withdraw money from third parties. Whenever feasible, all deposits are reimbursed the original source.
Identification technologies
In addition, we employ electronic databases and cutting-edge document authentication technologies.
Sanctions adherence
We also periodically add economic profile information to our client files and conduct background checks.
Compliance + AML, frequently asked
How does Volity verify client identity?
Clients complete identity verification before live trading. Checks include identity, address and source of funds, according to the applicable provider and service terms.
What documents do I need to open an account?
A government-issued photo ID and a recent proof of address are required. Source-of-funds documents may also be requested under the terms of the relevant provider and service.
How does Volity prevent money laundering?
Volity applies identity verification, transaction monitoring, sanctions and PEP screening, and periodic client-risk reviews. Suspicious activity is assessed and, where required by law, reported to the competent authority for the entity providing the relevant service.
