Due diligence is a major cornerstone of iP-Forex Inc., and as such, all our customers are subject to appropriate due diligence. This will seek to assure that our institution is comfortable conducting business with a particular Customer given the customer's risk profile. In this way, in the year 2007 iP-Forex Inc. further developed its' AML (Anti-Money Laundering) and KYC (Know Your Customer) policies for both existing and new customers. They have been developed keeping in mind the practices required by regulatory authorities of the banking sector. This procedure was also designed to be simple, well defined and easy to accomplish.
Furthermore, iP-Forex Inc. operates in a regulatory environment that is internationally recognized in the fight against money laundering. In addition to due diligence, iP-Forex Inc. also subjects those customers that may present greater risks to enhanced due diligence.
iP-Forex Inc. is fully aware that the AML and KYC policies are not only a tool for combating financial crime, but play an important role in the proper management of our financial institution. As part of a sound internal control environment, iP-Forex Inc. has policies, practices and procedures in place that promote high ethical and professional standards. In addition, iP-Forex Inc. has adopted the recommendations of ukrainian financial authorities concerning customer identification and record-keeping.
