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Money laundering 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.
Anti-money laundering (AML) incorporates a complex of measures aimed at prevention of use of the financial system of the country or any specific financial institution for money laundering or terrorist financing. Such measures and instruments are worked out and implemented by international and national institutions, banking and business community.
EBG collects identification data of every Client, as well as IP addresses, online activity, communications and,in general, all transactions carried out by the Client.
EBG tracks, including auto-monitoring and auto-controlling, suspicious activities of the clients and transactions executed under unusual conditions. This includes, but not limited to, transactions that do not make economic sense, unexplained large transactions, transactions involving unidentified parties, investments related transactions of unclear nature.
EBG reserves the right to ask supporting documentation for the suspicious transactions.
Enhanced Due Diligence is exercised on high turnover customers and/or potential suspicious customers/transactions.
Purpose of the transaction is established where applicable.
EBG improves its AML procedures continuously to monitor unlawful financial schemes.
EBG reserves the right to refuse to process a transaction at any stage, when we believe that the transaction is associated with money laundering or other criminal activity.
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