Common use of ANTI-MONEY LAUNDERING POLICY Clause in Contracts

ANTI-MONEY LAUNDERING POLICY. 6.1. For the purpose of this Agreement, the term “legalization” means any action targeted at transforming money and other property obtained through illegal activities (terrorism, drug trafficking, illegal arms trading, corruption, human trafficking, etc.) into money or investments that appear as originating from a legitimate source. 6.2. In order to prevent the legalization, NordFX is legally obliged to comply with its internal Systems and Procedures related to the Prevention of Money Laundering and Terrorism Financing and help international organizations fight the funding of terrorism and money laundering activities. The Client acknowledges and understands that NordFX: a) maintains internal controls to oversee, implement and monitor compliance with and enforce its anti-money laundering program, b) has policies and procedures in place designed to verify the Client’s identity and source of wealth and source of funds in accordance with applicable laws and regulations; c) performs routine checks to ensure that none of its Clients appear on any list of prohibited countries, territories and entities promulgated via the applicable anti-money laundering laws and regulations; d) maintains and keeps track of detailed reports on all Client’s transitions; e) monitors and records all Client’s transactions deviating from the Client’s normal trading pattern and/or giving rise to a suspicious transaction; f) does not accept cash deposits and does not pay out cash under any circumstances 6.3. NordFX may refuse to process a transaction at any stage if NordFX reasonably believes that such transaction is in any way connected or related to illegal activities. 6.4. The Client accepts that the Client’s identification information and documentation submitted to NordFX may be used by NordFX within the framework of anti-money laundering and combatting terrorism activities. 6.5. NordFX is not obliged to notify the Client in the event that a suspicious transactions report has been submitted to relevant authorities 6.6. NordFX Is entitled to suspend, and make internal checks and investigations in respect of, any activity transacted through the Client’s trading account in the event that NordFX has formed a view that such transaction is in breach of any term and condition of this Agreement, or is fraudulent or otherwise illegal. Such checks and investigations may include, but not be limited to, requests to provide NordFX with additional Client’s identification and other information, the analysis of all deposits and withdrawals made through the trading account, the source of origin and destination of funds transacted through the account etc. The account so suspended will not be activated by NordFX unless and until the internal checks and investigations have been completed to reasonable satisfaction of NordFX in order to re- activate the account.