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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 Ltd, we are committed to preventing Money Laundering and Terrorist Financing through:
  • Client identification (KYC procedures)
  • Identification, monitoring and reporting of suspicious transactions
  • Maintenance of transaction records for a minimum of 5 years following termination of the said agreement
  • Employee Training in regard to recognising suspicious transactions.

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 know that all information provided to Tadawul FX Ltd is made 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 that the said transfer is connected in any way to money laundering or to any other criminal activity.

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.