Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate, so that the illegal source cannot be traced. Domestic and international laws that apply to companies, whose customers can deposit and withdraw funds from their accounts, make it illegal for Capital City Markets Limited, its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction of criminally derived property.
The objective of Anti-Money laundering procedures that Capital City Markets Limited implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers. Capital City Markets Limited is committed to assisting governments in combatting the threat of money laundering and the financing of terrorist activities around the world. For that purpose, Capital City Markets Limited has implemented a highly-sophisticated electronic vetting system to document and verify client identification records, and to track and maintain detailed records of all transactions.
Capital City Markets Limited is also committed to regularly updating its electronic system for inspection of suspicious transactions and for verification of client identification records in accordance with any new regulations as they are promulgated, as well as to provide continuous training for its employees on enhancements to anti-money laundering procedures that may be required by new regulations.
In order to minimize the risk of money laundering and the financing of terrorist activities, Capital City Markets Limited neither accepts cash deposits nor disburses cash under any circumstances. Capital City Markets Limited reserves the right to refuse processing of a transfer at any stage if reasonable belief exists that the transfer may be connected in some way to money laundering or criminal activity. In accordance with international law, Capital City Markets Limited is forbidden from informing clients that suspicious activity has been reported.