Money laundering statement

 

The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 became effective on 12 December 2006. The Act imposes numerous obligations on entities that provide a Designated Service (as defined in the AML/CTF Act).

Forex Sport Pty Ltd as a provider of foreign exchange services is a Reporting Entity and therefore is subject to, and complies with, the AML/CTF Act.

The AML/CTF Act requires Forex Sport Pty Ltd to implement and conduct customer identification and verification so that Forex Sport Pty Ltd can be reasonably staisfied as to the identity of its customers.

This legislation has been introduced to ensure that customers are protected from targeted money laundering or terrorism financing campaigns and the legislation proposes to create a safer environment for people to conduct financial transactions.

It is important that you understand the legislative requirements and ensure that whichever financial services company you deal with complies with all the aspects of this new legislation. This will ensure that you are dealing with an entity that has your best interests and security in mind.

The following pages of our website have been designed to give you an overview of what these regulations mean to you. You should read this information regardless of whether you are an existing Forex Sport Pty Ltd client or are considering using Forex Sport Pty Ltd's service.
If you would like to discuss any aspect of the new legislation in more detail, please contact Forex Sport Pty Ltd directly.

Compliance Regulations for New Clients


The process for registration requires you to read a copy of our Terms & Conditions, complete and sign an application form as well as read a copy of our Product Disclosure Statement (PDS) and Financial Services Guide (FSG).

The AML/CTF Act requires Forex Sport Pty Ltd to conduct customer identification and verification.  To do this we require from you personal information and your consent to verify this against government and recognised Australian private sector databases. In some instances we will require from you suitable identification documents. It is important to remember that all Reporting Entities (AFS Licence holders) are required to collect this information as part of their client identification procedures.

For individuals the minimum information we require includes the following:

(1) your full name and/or names used; and
(2) your date of birth; and
(3) your residential address; and
(4) Additional personal information, specific to the database selected by the client.

To provide us with this information, we may request that you provide us with either an original, a certified copy, or simply a copy of:

(A) a primary government issued photographic identification document with the information stated above (such as a drivers licence or passport); and
(B) a secondary identification document (such as a utility bill or bank statement) dated within the last 3 months.

For companies the minimum information we require includes the following:

(1) the full name of the company as registered by the relevant regulatory body;
(2) the full address of the company’s registered office;
(3) the full address of the company’s principal place of business, if any;
(4) the ACN issued to the company;
(5) whether the company is registered as a proprietary or public company;
(6) the name of each director of the company.

For Trusts the minimum information we require includes the following:

(1) the full name of the trust;
(2) the full business name (if any) of the trustee in respect of the trust;
(3) the type of the trust;
(4) the country in which the trust was established;

Please note: The above documentation is in addition to the standard account application forms and accompanying information required for the establishment of a business or individual account. Please refer to those sections of the website for more information.

In certain circumstances Forex Sport Pty Ltd may require certified copies of the documents above and/or additional documentation from you in order to fully meet its KYC obligations. Your Forex Sport Pty Ltd representative will be able to tell you in advance of establishing an account, what is required of you. If you would like to know more about establishing an account or have questions relating to the documentation you might need, please call us on +61 3 9008 1880

 

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Forex Sport Pty Ltd (ACN 147 363 175) is licensed in Australia by the Australian Securities and Investments Commission and holds an Australian Financial Services Licence (AFSL 401379).
Any advice included in this website or correspondence is general advise only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment
objectives, financial situation and particular needs (e.g. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should carefully consider
the appropriateness of advice in light of his or her financial circumstances and should carefully review the Product Disclosure Statement regarding the relevant financial product.