AML Policy2018-07-09T16:41:13+00:00

Anti Money Landering AML Policy

Sandton Capital Markets Pty collects and verifies the personal identification data of our account holders, while logging and tracking itemized statements of all the transactions that are carried out by our clients. Prior to opening an account with Sandton Capital Markets Pty a valid form of government-issued identification (Driver’s License, State ID, or Passport), a proof of residence, and bank account information is required, along with your completed account application. Additionally, Sandton Capital Markets Pty tracks all suspicious transactions of our clients, and transactions executed under non-standard trading conditions.

Sandton Capital Markets Pty monitors funding from various bank accounts outside of the account holder’s home country. Sandton Capital Markets Pty performs its actions on the basis of the anti-money laundering requirements framework set forth by the Financial Action Task Force.

• Sandton Capital Markets Pty will not activate any client accounts prior to the necessary verification by the compliance department.

• Sandton Markets Pty neither accepts cash deposits nor disburses cash under any circumstances.

• Sandton Capital Markets Pty does not accept third-party deposits of any kind.

• Sandton Capital Markets Pty matches each deposit to the account holder’s name and identification documents on file for that particular client.

• Sandton Capital Markets Pty reserves the right to refuse processing a

• Transaction at any stage where it believes the transaction to be connected in any way to money laundering or illegal & criminal activities. In accordance with international law, Sandton Capital Markets Pty is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.

Funds Withdrawal Procedures

The withdrawal process at Sandton Capital Markets Pty detailed below is structured around strict guidelines to make sure that funds are securely sent back to their originating source.

• Sandton Capital Markets Pty existing clients must complete a signed paper or digital withdrawal request containing their correct account information.

• The withdrawal request by the existing client is submitted to the Sandton Capital Markets Pty accounting and compliance departments for processing. The accounting department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request, which is further verified by the compliance department.

• The Sandton Capital Markets Pty accounting and compliance departments use the same method of deposit to the account holder on file. The accounting department also examines the withdrawal request against the client’s deposit history to make sure there is no suspicious activity, and verifies the bank account on file.

• Withdrawal requests approved by the Sandton Capital Markets Pty accounting department are verified by the compliance department, and the funds are released to the client.

• In the event that a withdrawal is flagged for suspicious activity, the withdrawal is placed on hold, pending further investigation by Sandton Capital Markets Pty accounting & compliance departments and management.

• Relevant departments at Sandton Capital Markets Pty and its management will take further action if needed.

Compliance Summary

The compliance procedures listed above are only brief synopsis of the high level guidelines observed by the Sandton Capital Markets Pty compliance and accounting departments and its entire staff. For additional questions concerning Sandton Capital Markets Pty policies, please feel free to contact our compliance department. No substitutions or modifications will be accepted to the above requirements; Sandton Capital Markets Pty Compliance department reserves the final determination regarding the validity of the documents.