Volnex is committed to the highest standards of compliance against money laundering (AML) and anti-terrorist financing (ATF). The objective of the Company's Policy against Money Laundering and Terrorism Financing is to actively prevent the risks associated with these activities.
To help authorities combat the financing of terrorism and money laundering, the law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Volnex has an obligation to report suspicious client activity relevant to money laundering.
Money laundering is the process of converting funds received from illegal activities (such as fraud, corruption, or terrorism) into other funds or investments that appear legitimate, to conceal or distort the actual source of the funds. The money-laundering process can be divided into three sequential stages:
Any withdrawal of funds from your Volnex account to a bank account can only be refunded to the same bank account that the funds were originally received from, or to another bank account under the client's individual name.
Please note that the processing time for withdrawals to reach your bank account depends on the currency, location, and internal procedures of the recipient's financial institution. Typically, funds are credited within 2 to 7 business days.
Funds are transferred or moved to other accounts or financial instruments. This is done to disguise the origin and interrupt the trace of the entity that carried out multiple financial transactions. Moving funds and changing their form makes it difficult to track money being laundered.
The funds are re-introduced into the economy as legitimate — for example, through the purchase of goods, services, or investments. Volnex adheres strictly to Anti-Money Laundering principles and actively prevents any action that could facilitate the legalization of illegally obtained funds. The AML Policy aims to prevent the use of the company's services by criminals for money laundering, terrorist financing, or other unlawful activities.
To prevent such risks, Volnex does not accept or pay in cash under any circumstances. The company reserves the right to suspend any client's account or operation that may be considered illegal or, in the opinion of the compliance team, related to money laundering.
Volnex ensures that each client is a genuine individual or legal entity. The company performs all necessary measures in accordance with applicable laws and regulations issued by competent monetary authorities. The AML Policy is implemented within Volnex by the following means:
As part of Volnex's commitment to AML and KYC compliance, every client must complete a verification procedure before any cooperation begins. The company ensures that satisfactory evidence is presented, or other measures are taken, to produce reliable proof of the identity of any client or counterparty.
Additional scrutiny is applied to clients who are residents of countries identified as having inadequate AML standards, higher risks of crime or corruption, or beneficial owners whose funds originate from such jurisdictions.
During registration, each client must provide personal information, including:
Documents required to verify personal information:
If the applicant company is listed on a recognized or approved stock exchange, or is a wholly-owned subsidiary of such a company, no further verification is normally required. If the company is not listed, and none of its main directors or shareholders already has an account with Volnex, the following documentation must be submitted:
Volnex continuously monitors the activity of each client to identify and prevent suspicious transactions. A suspicious transaction is defined as any transaction inconsistent with the legitimate business or transaction history of the customer. Volnex uses both automatic and manual monitoring systems to prevent misuse of its services.
Records of all transactions, identification data, and related documentation are maintained securely for a minimum of seven (7) years after the account is closed.
If Volnex suspects that a transaction may be related to money laundering or other criminal activity, it will act in accordance with applicable laws and compliance procedures. The company reserves the right to suspend or terminate any account deemed suspicious or illegal.
For more information or inquiries related to AML or compliance, please contact:
support@volnex.com
Website: www.volnex.com
Email: support@volnex.com
Registered Address: Ground Floor, The Sotheby Building, Rodney Bay, P.O Box 838, Gros-Islet, Saint Lucia
Phone: +44 7349338119
