Anti-Money Laundering Policy
The objective of Anti-Money laundering procedures that Quota Trade implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers.
is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate, so that its illegal source cannot be traced. Domestic and international laws that apply to companies, whose customers can deposit and withdraw funds from their accounts, make it illegal for Quota Trade , or its employees or agents, to knowingly engage, or attempt to engage in a monetary transaction of criminally derived property.
The objective of Anti-Money laundering procedures that Quota Trade implements is to ensure that customers engaging in certain activities are identified to a reasonable standard, while minimizing the compliance burden and impact on legitimate customers. Quota Trade is committed to assisting governments combat the threat of money laundering and financing terrorist activities around the world. For that purpose Quota Trade has set up a highly sophisticated electronic system. This system documents and verifies client identification records, and tracks and maintains detailed records of all transactions.
Quotatrade carefully tracks suspicious and significant transaction activities, and reports such activities “providing timely and comprehensive information” to law enforcement bodies. To uphold the integrity of reporting systems and to safeguard businesses, the legislative framework provides legal protection to providers of such information.
In order to minimize the risk of money laundering and financing terrorist activities, Quota Trade neither accepts cash deposits nor disburses cash under any circumstances. Quota Trade reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activity. For the avoidance of any doubt, Quota Trade may detain or postpone payments for a set period of time at its own discretion. It is forbidden for Quota Trade to inform customers that they have been reported for suspicious activity.
For the purpose of complying with Anti-Money laundering laws, quotatrade.com requires two different documents to verify the identity of the customer.
The first document we require is a legal government-issued, identifying document with the picture of the customer on it. It may be a government-issued passport, driver’s license (for countries where the driver’s license is a primary identification document) or local ID card (no company access cards).
The second document we require is a bill with the customer’s own name and actual address on it issued 3 months ago at the earliest. It may be a utility bill, a bank statement, an affidavit, or any other document with the customer’s name and address from an internationally recognized organization.
Quota Trade also requires a completed and physically-signed account application form to be submitted to the company.
Customers are required to submit up to date identification and contact information in a timely manner, as soon as changes occur.
Documents in non-western letters must be translated into English by an official translator; the translation must be stamped and signed by the translator and sent together with the original document with a clear picture of the customer on it.
DEPOSITS AND WITHDRAWALS
Quota Trade requires all deposits, where the name of the originating customer is present, to come from the name matching the name of the customer in our records.
Third party payments are not accepted.
As for withdrawals, money may be withdrawn from the same account and by the same way it was received. For withdrawals where the name of the recipient is present, the name must exactly match the name of the customer in our records. If the deposit was made by wire transfer, funds may be withdrawn only by wire transfer to the same bank and to the same account from which it originated. If the deposit was made by means of electronic currency transfer, funds may be withdrawn only by the means of electronic currency transfer through the same system and to the same account from which it originated.
In certain exceptional circumstances, Quota Trade may refund payments made by credit card. In this case, the funds will be refunded to the card that was used for the deposit. The Customer has the right to close his/her account at any time he/she wishes to. Quota Trade will approve the account closure if: a. there are no active investments placed; b. there are no investigations underway associated with any of the terms of the current Terms of Services. If there are no charges applied to the account, Quota Trade has to close the account by the Customer’s demand. If the account of the Customer has been suspended due to the violation of the current Online Services Agreement or due to any other abuse detected by the Customer, the refund is not provided under any circumstances. Quota Trade does not have to provide any type of the refund in case the loss was caused due to any reason either foreseen or unforeseen. A refund request can be made in cases in which the account had been deposited into, but no orders were executed by the customer. In this case, the same method of payment used for the deposit will be used for the refund. The refund will be for the full amount, unless other arrangements have been made. Processing of refund requests can take up to 6 business days provided that the customer account is fully verified, the customer has submitted a withdrawal request Quota Trade, the funds are still available in the customer`s balance and the customer doesn’t have any active bonus agreements that prevent him from withdrawing funds. All other requests will be treated as WITHDRAWALS and will be processed using those methods and procedures. If you have any questions about this Policy do not hesitate to contact us by E-mail: firstname.lastname@example.org In compliance with anti-money laundering regulations, Quota Trade is allowed to transfer funds only to an account bearing your name. Quota Trade may require additional information or documentation prior to releasing funds to your account. Docs need to be sent to email@example.com