Anti-Money Laundering

Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or finance that appear to be legitimate, so that any illegal source cannot be traced. Domestic and international laws that apply to companies, whose clients can deposit and withdraw funds from their accounts, make it illegal for Unifunds, its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction of criminally derived property.

Unifunds does not tolerate money laundering activities and wholly supports the fight against money launderers. We are committed to the highest and strictest standards of the Anti-Money Laundering (AML) compliance.

The objective of the Anti-Money Laundering procedures that Unifunds implement is to ensure that Participants engaging in certain activities are identified to a reasonable standard, while minimising the compliance burden and impact on legitimate Participants. Unifunds is committed to assisting governments to combat the threat of money laundering and the financing of terrorist activities around the world. For this purpose, we have established a highly sophisticated electronic system, which documents and verifies Participant’s identification records, and tracks and maintains detailed records of all transactions.

Unifunds carefully tracks suspicious and significant transaction activities, and reports such activities, providing timely and comprehensive information, to law enforcement bodies. To uphold the integrity of reporting systems and to safeguard businesses, the legislative framework provides legal protection to providers of such information.

In order to minimise the risk of money laundering and financing terrorist activities, Unifunds neither accepts cash deposits nor disburses cash under any circumstances. We reserve the right to refuse to process a transfer at any stage, where we believe the transfer to be connected in any way to money laundering or criminal activity. For the avoidance of any doubt, Unifunds may detain or postpone payments for a set period of time at our own discretion.

It is forbidden for Unifunds to inform Participants that they have been reported for suspicious activity.