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MONEY LAUNDERING PREVENTION

Preventing money laundering is a major responsibility and aim of regulatory authorities worldwide. Money laundering allows movement of funds from criminal activities and makes funds available for terrorist activities.

At Tadawul FX, we are committed to preventing any money laundering activities through our services and as such comply with regulatory requirements such as:
  • Identifying our clients
  • Identifying, monitoring and reporting any kind of suspicious transactions
  • Maintaining transaction records for minimum 5 years after termination of the Agreement with our client
  • Training our staff to recognise suspicious transactions and to fulfill all reporting obligations
  • Depending on client location, TDFX may report any suspicious activities to authorities in several countries.

Tadawul FX reserves the right to collect and validate proof of identification from clients prior to account opening and any payments of proceeds. To see our identification requirements please visit our Account Opening page.

Clients should assume all information provided to Tadawul FX is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds. Tadawul FX reserves the right to refuse to process a transfer at any stage if it believes it to be connected in any way to criminal activity or money laundering.

TDFX is obliged to report all suspicious transactions and is prohibited from informing the client that they have been reported for suspicious account activity. Account misuse may result in criminal prosecution.

Tadawul FX does not want your business if your funds are sourced from criminal activity or if the nature of your account transactions is illegal in any way.