Anti-Money Laundering and Know Your Customer (AML & KYC) Policy Overview

Pluton Markets is committed to the highest standards of compliance against money laundering (AML) and counter-terrorist financing (CTF). The company’s AML and CTF policy aims to actively prevent the risks associated with these issues. To assist the government in combating terrorist financing and money laundering activities, the law requires all financial institutions to obtain, verify, and record information identifying each person who opens an account. We are obligated to report suspicious client activities related to money laundering.

Money laundering is the process of converting funds obtained from illegal activities (such as fraud, corruption, terrorism, etc.) into other funds or investments that appear legitimate to conceal or distort the true source of the funds. The money laundering process can be divided into three sequential stages:

  1. Placement: At this stage, funds are converted into financial instruments such as checks, bank accounts, and money transfers, or used to purchase high-value goods that can be resold. Funds can also be physically deposited into banks and non-bank institutions (e.g., currency exchange houses). To avoid suspicion, money launderers may make multiple smaller deposits instead of depositing the entire sum at once. This form of placement is called «smurfing.»
  2. Layering: Funds are transferred or moved to other accounts and financial instruments to disguise their origin and disrupt the traceability of the financial transactions. Moving and transforming funds complicates the tracking of laundered money.
  3. Integration: Funds re-enter the economy as legitimate, used to purchase goods and services.

Pluton Markets adheres to AML principles and actively prevents actions aimed at or facilitating the legalization of illegally obtained funds. The AML policy ensures that the company’s services are not used by criminals for money laundering, terrorist financing, or other criminal activities.

To prevent money laundering, Pluton Markets does not accept or pay cash under any circumstances. The company reserves the right to suspend any client operation deemed illegal or suspected to be associated with money laundering by its staff.

Company Procedures

Pluton Markets ensures that it deals with real individuals or legal entities and complies with all measures required by law and regulations issued by monetary authorities. The AML policy at Pluton Markets FX is implemented through the following means:

  1. Know Your Customer (KYC) and Due Diligence Policy
  2. Monitoring Client Activity
  3. Record Maintenance

Know Your Customer (KYC)

Due to the company’s commitment to AML and KYC policies, every client must complete a verification process. Before commencing cooperation, the company ensures satisfactory proof or measures are taken to verify the identity of any client or counterparty. Enhanced scrutiny is applied to clients residing in countries identified as having inadequate AML standards, high crime or corruption risks, or where the funds originate from such countries.

Individual Clients

During registration, each client provides personal information, including:

  • Full name
  • Date of birth
  • Country of origin
  • Full residential address

The following documents are required for verification:

  • A valid passport (showing the main page with photo and signature); or
  • A driver’s license with a photograph; or
  • A national identity card (showing both front and back pages).

For proof of current residential address, documents such as utility bills or bank statements with the client’s full name and address are required. These must be dated within three months of submission. Documents in non-Latin characters require a notarized English translation.

Corporate Clients

If the applicant company is listed on a recognized stock exchange or there is independent evidence confirming the company is a fully owned subsidiary of such a listed entity, additional identity verification may not be necessary. For unlisted companies, the following documents are required:

  • Certificate of Incorporation (or national equivalent)
  • Memorandum and Articles of Association (or national equivalent)
  • Certificate of Good Standing or proof of the company’s registered address
  • Board resolution authorizing account opening and conferring operational authority
  • Notarized powers of attorney or other authorities granted by directors
  • Proof of identity for directors acting on behalf of the client (as per individual client rules)
  • Proof of identity for beneficiaries or individuals issuing account instructions

Monitoring Client Activity

In addition to collecting client information, Pluton Markets monitors each client’s activity to detect and prevent suspicious transactions. A suspicious transaction is one inconsistent with the client’s legitimate business or known transaction history. The company has implemented automated and, when necessary, manual transaction monitoring systems to prevent misuse of its services.

Record Maintenance

All transaction data and identification records, as well as documents related to money laundering (e.g., reports of suspicious activities, AML account monitoring documentation), are retained for at least seven years after account closure.

Actions Taken

If a transaction is suspected to be related to money laundering or other criminal activities, Pluton Markets will act per applicable law and report the suspicious activity to the regulatory authority.

The company reserves the right to suspend any client operation deemed illegal or linked to money laundering. It may temporarily block the client’s account or terminate an existing client relationship at its discretion.