Money laundering is one of the biggest challenges facing the financial industry. It entails injecting illegal money into the financial systems to sanitize it. This money is usually in large sums and usually acquired through unlawful means which could be stealing, selling prohibited substances, and many more. To avoid being detected by authorities, the people behind the money will try to move it through the financial system and clean their source.
Cryptocurrency is one of the sectors that people looking to launder money have started eyeing. With no central authority governing the cryptocurrency world, money laundering can be carried out smoothly without raising the alarm. Here at XTRgate, we understand how damaging money laundering can be to the financial system. We have put up effective anti-money laundering (AML) measures to ensure no such crimes happen through our platform. This makes our platform one of the best and safest when it comes to the trading of cryptocurrency.
As part of our commitment to ensure no money laundering activities take place through our platform, we have collaborated with the relevant authorities that have been put in place to counter illegal transactions in the financial systems. Furthermore, we have implemented the following AML measures to make our platform safe from any money laundering attempts:
Thorough identification – At XTRgate, we require all our clients to produce all the necessary government-issued documents to prove their identities before we allow them to join and trade with our platform.
Routine Verification – We not only verify our clients before joining the platform, but also request for the identification documents routinely to ensure no client registered with forged identities.
No cash transfer allowed – Money laundering will mostly occur through cash transfers. To prevent this from happening in our platform, we don’t allow cash transfer. Alternatively, we have provided you with several smooth and safe means to make deposits and withdraws.
Following transaction trail – We keep check of how transactions flow in our platform from the deposit, to trading and to withdraws. This leaves no room for any malicious activities to take place at any point in our platform.
Flagging and rejecting requests to join the platform from suspicions characters - When a client requests to join the XTRgate platform, we do a thorough background check to ascertain their characters. This ensures we don’t bring onboard terrorists, people with questionable past, people who have been involved in money laundering before, and other negative traits.
Money laundering is a serious crime that attracts huge penalties. If a cryptocurrency trading platform is found to be facilitating money laundering, it can be banned from operating. This means investors will incur losses. That is why you should ensure the platform you choose to venture into the world of cryptocurrency doesn’t tolerate this act. With the AML measures that XTRgate has implemented, you can be sure it is a legit platform that doesn’t tolerate any underhand dealings. When you join our platform, you can be sure you are dealing with a reliable platform. Join us today and enjoy a fruitful venture into the world of cryptocurrency.
Dear visitor, Unfortunately, we do not accept traders from United States.