Money Laundering Statement

The prevention of money laundering is a key focus of regulatory authorities in developed countries. Money laundering regulations are designed to inhibit the movement of funds derived from criminal activity and to restrict the availability of money to fund terrorist activities.

We are committed to preventing money laundering through our service. We have measures in place to ensure strict compliance with the regulatory requirements in each jurisdiction, including taking such measures as the following.

•    Identifying clients.
•    Monitoring and reporting suspicious transactions.
•    Maintaining client records for at least seven years.

Identification and Transactional Information

We are obliged by legislation to collect identification information from all clients and to verify that information prior to transacting with them. It is extremely important that you comply promptly and fully with any request we make for identification information, even if it is inconvenient.

We may also require information as to the nature and purpose of the transaction you are proposing to enter into. The amount of information required will depend on the jurisdictions involved, but any such request for transactional information is equally important and will only be made if it is necessary for us to comply with our regulatory obligations.

Use of Identification Obligation

You should assume that all information provided to us could be made available to regulatory authorities in both the country of origin of the funds and in the country to which the funds are being sent.

No Cash or Credit Cards

In order to reduce the risk that our service could be used for money laundering purposes, we will not accept payment in cash, by cheque or by credit card or debit card. All money is received and remitted by us by electronic means only.

Right to Refuse to Process a Transaction

We reserve the right to refuse to accept you as a client or to refuse to process any transaction at any stage of our relationship if we have reason to believe that information you have provided to us is false or misleading or that a proposed transfer may be connected in some way with an illegal activity.

Reporting Obligations

We are obliged to report all suspicious transactions. By using our service for improper purposes, you could expose yourself to criminal prosecution as we are bound to report any suspicion of such activities to the authorities. Examples of suspicious conduct include, but are not limited to:

•    Breaking a large transaction into smaller transactions to avoid reporting thresholds.
•    Providing false or misleading contact details.
•    Providing false identification documents.


We do not want your business if the funds are sourced from criminal activity or the nature of the transaction is illegal in any way.

 

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The ClearFX service is provided by UKForex Limited [CN: 04631395] (“UKForex”).

IMPORTANT: Use of this website is subject to the Website Terms. Use of the Services of the UKForex Limited is subject to the Client Agreement. Nothing on this website constitutes or should be construed as financial advice. This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites.

DISCLAIMER: UKForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.

UKForex provides foreign currency transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.

UKForex is regulated by the Financial Conduct Authority (FRN: 521566) for the provision of payment services.

Money Laundering Regulation Number (MSB): 12219180. Issued by HM Revenue & Customs (HMRC)
Read our Money Laundering Statement

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