AML/CFT Protocol

Robofund is a brand that operates in compliance with Anti-Money Laundering and Counter-Terrorist Financing (“AML & CTF”) guidelines:

• MONEYVAL – the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – and
• Financial Action Task Force (“FATF”) – the global watchdog for money laundering and terrorist financing, which sets international standards to prevent these illegal activities and the harm they cause to society.

Robofund focuses on protecting its clients from ML and TF activities and ensures that such illegal activities cannot be carried out by potential clients in any way.

MONEYVAL is a European-wide monitoring body that evaluates compliance with key international standards for combating money laundering and the financing of terrorism. With 47 member states, it reports directly to its main body – the Committee of Ministers of the Council of Europe. MONEYVAL also assesses the effectiveness of the implementation of regulations and provides national authorities with recommendations for necessary improvements to their systems.

Additionally, MONEYVAL conducts typological investigations into methods, trends, and techniques of money laundering and terrorist financing. Initially, the organization was only an observer at FATF. Later, in June 2006, it became an associate member.

For this reason, Robofund has implemented the procedures and recommendations of MONEYVAL and FATF to prevent money laundering. Some of the procedures we apply are:

• Know Your Customer (“KYC”) by collecting and verifying customer identification and maintaining such records of identification information. (Customers are informed of the information they need to provide, which will be used for KYC.)
• Identifying, monitoring, and reporting any suspicious transactions;
• Verifying that customers are not terrorists and have not been identified/reported as being involved in such illegal activities.
• Monitoring customers’ financial transactions by tracking and recording transactions to ensure the accuracy of the financial information provided by customers.
• Training our employees to recognize suspicious transactions and meet all reporting requirements.
• Rejecting cash, money orders, third-party transactions, transfers from currency exchanges, or Western Union. Money laundering occurs when funds from illegal/criminal activities are altered in such a way that they appear to come from legitimate sources.

We reserve the right to request and verify proof of identification from the customer before opening an account and before processing withdrawals of profits. To verify our identification requirements, customers must ensure that the necessary documents are submitted during the account opening process.

We reserve the right to refuse to process a money transfer at any time if we believe that such a transfer is or may be associated with criminal activities (i.e., ML or TF).

It is our duty to report all suspicious transactions. If such a case occurs, we are prohibited from informing customers that they have been reported for suspicious account activity. Misuse of accounts may lead to criminal prosecution and reporting to the authorities.
Funds derived from criminal activities, particularly those associated with ML & TF, will not be accepted and will be reported to the authorities.

Third-party payments are not accepted under any circumstances, as we are committed to complying with AML and CTF regulations. Only account holders can make deposits into fully compliant customer accounts, and third parties are not permitted to make deposits on behalf of account holders under any circumstances.

This AML & CTF Protocol serves solely as a guideline and is not part of our general terms and conditions. It is not intended to be contractually binding or to impose any obligations on us that we would not otherwise have in accordance with MONEYVAL and FATF guidelines.

This AML and CTF Protocol may be reviewed and/or amended from time to time at our sole discretion and without prior notice to the customer whenever we deem it appropriate in accordance with the latest guidelines from MONEYVAL and FATF.

Stages of Money Laundering

1. Placement Phase

The initial stage, when cash or its equivalents are moved through financial institutions via a series of financial transactions into accounts (e.g., term accounts). The goal of these transactions is to disguise the origin of the money (e.g., by conducting transactions with little or no financial risk or by transferring account balances to other accounts).

2. Layering Phase:

The second stage is “Layering,” also known as the “structuring stage.” The funds are split into smaller transactions, making it difficult to detect money laundering activities. Nowadays, these funds are used to trade various stocks in different markets to obscure the trail. The purchase of assets and their subsequent sale is considered another effective and common method by which criminals obscure their tracks. The assets may be resold domestically or internationally, making tracing and therefore seizing them more difficult.

3. Integration Phase:

The integration phase is the final stage of money laundering, where the money is now legally returned to the criminals (e.g., closing a term account and transferring the funds to a bank account).

Since trading accounts are one of the vehicles that can be used to launder illegal funds or obscure the true owner (by conducting financial transactions that obscure the origin of the funds), Robofund redirects the withdrawal of funds back to their original source. These guidelines have been implemented to protect Robofund and its customers, as the international fight against money laundering requires financial service providers to be aware of potential money laundering abuses that may occur on a customer account and to establish a compliance program to prevent, detect, and report potential suspicious activities. If you have any questions/comments regarding these instructions, please contact us at [email protected].

Know Your Customer (“KYC”) Procedure

The KYC procedure is mandatory at Robofund as part of the AML and CTF protocol. All customers wishing to open an account must comply with this procedure.

Robofund’s KYC procedure involves collecting and verifying the identity of the potential customer. This procedure is a mandatory component to ensure full compliance with the regulatory requirements that govern our operations. This keeps our platform and services secure and prevents unwanted activities.

• To meet regulatory requirements while being able to verify the customer account, we have implemented the following procedures:
• All customers must provide valid identification documents (i.e., all details must be visible, valid, not expired, clear, and without any cuts).
• All customers must provide valid proof of residence (the document must not be older than three (3) months).
• Records of customers’ identification documents are properly maintained for reporting purposes to authorities and banks (if applicable).

Type of Documents Required Under the KYC Procedure

Approval Process

To mitigate the risks related to money laundering and terrorist financing, a thorough review of the submitted documents is conducted after the KYC procedure is completed. Provided that all documents and information submitted by the customer are in place, the account registration is approved, and a trading account is set up for the customer.

A trading account will only be activated once the KYC procedure is completed, and the customer’s details have been verified.

How to Fund Your Account

At Robofund, we offer the following methods to conduct your deposits in the safest and most efficient manner:

(a) Credit/Debit Card:

Use your preferred credit or debit card for deposits. Customers should send a copy of both sides of their credit or debit card to ensure that all transfers are made to and from your card only.

The copy must contain the following details:

• Full name,
• Expiry date,
• The last four digits on the front and back of the card,
• Signature on the back clearly visible.
• Ensure that for your security, the card number except for the last four digits, and the CVV code on the back are covered.

(b) Bank Transfer:

A bank transfer is the most common and secure way. When a customer deposits via bank transfer, they must provide a copy of the transaction confirmation.

Support

At Robofund, we are always happy to assist our customers and explain what they need. As such, you can contact us via email at the provided email address: [email protected].