Imperial Foreign Exchange is registered and regulated by the FCA and HM Revenue & Customs for MLR (Money Laundering Regulations) and as such we undertake CDD (Customer Due Diligence) and where appropriate EDD (Enhanced Due Diligence). This means we make sure that we do thorough checks on the people that we are doing business with as well as performing risk assessment for the businesses that we engage with. We use a RBA (Risk Based Approach) to monitor our customers’ activity and report all suspicious instances to NCA (National Crime Agency). We make sure that we meet all the requirements of MLR 2007, 2008 and 2009 at all times.
Imperial Foreign Exchange operates in a regime where the aim is to ensure that all Anti-Money Laundering and Terrorist Financing procedures are enforced, such as the implementation of the Customer Due Diligence (CDD) and the Enhanced Customer Due Diligence (EDD) policies , which we understand as being an efficient method of preventing financial support for drugs ,human trafficking, terrorism, Money Laundering and any other illegal activity. Therefore, we will refuse to complete any transaction where the client refuses to provide a valid and acceptable from of ID or any other information required by regulatory bodies.
We co-operate with the authorities in combating criminal activity allowing them access to our files which we keep on record for up to 5 years as required by law.
All clients must be checked using the following primary sources; the EU Sanctions List, the lists issued by Office of Foreign Assets Control (OFAC), and the Financial Actions Task Force (FATF) before commencement of any business transactions. Should the potential client’s name appear on any of these lists, the person is not authorised and the member of staff will report this to the Nominated Money Laundering Reporting Officer immediately.
Imperial Foreign Exchange employees will follow the aforementioned obligations as this is fundamental to their training in the company’s good business practices.
Therefore we believe in promoting:
- Clients and Stakeholders business protection.
- Establishment of good relationships with regulators.
- Enhancement of the reputation of our business.
- Representation of good business practice.
- Contribution to good corporate governance.
London Head office
1 College Yard, 56 Winchester Avenue
Tel: +44 20 3805 1260