Anti-Money Laundering Policy

OverEx Capital is committed to preventing money laundering and other illegal activities through its investment services. In accordance with applicable laws and regulations, including the Bank Secrecy Act (BSA) and its implementing regulations, our AML policy outlines the procedures we have in place to detect, prevent, and report any suspicious activity related to money laundering or other illegal activities.

Definition of Money Laundering:

Money laundering is the process of disguising illegal proceeds as legitimate funds through a series of transactions. The ultimate goal of money laundering is to make the proceeds appear legal, thus hiding the source of the funds and avoiding detection by law enforcement.

Prohibited Activities:

OverEx Capital prohibits any transaction or activity that is related to money laundering, terrorist financing, or other illegal activities. This includes, but is not limited to:

  • Providing false information or using false identities
  • Engaging in transactions that appear to be structured in a manner designed to evade reporting requirements
  • Engaging in transactions that appear to have no business or apparent lawful purpose
  • Participating in transactions that involve the proceeds of illegal activity

Client Identification and Verification:

OverEx Capital requires all clients to provide accurate and complete personal information when opening an investment account. This information is used to verify the client’s identity and to comply with AML regulations. In accordance with the BSA and its implementing regulations, OverEx Capital may also use additional verification methods, such as identity document verification, to confirm the client’s identity.

To comply with anti-money laundering (AML) regulations and prevent financial crimes such as money laundering, terrorism financing, and fraud, OverEx Capital is required to perform know your customer (KYC) checks on its clients.

Here is a list of the information and documents OverEx Capital should collect from its clients to proceed with KYC:

  1. Full name
  2. Date of birth
  3. Residential address
  4. Government-issued ID, such as a passport or national ID card
  5. Proof of address, such as a utility bill or bank statement
  6. Email address
  7. Phone number

Suspicious Activity Reporting:

OverEx Capital is committed to reporting any suspicious activity to the appropriate authorities. Our employees are trained to recognize and report any suspicious activity related to money laundering or other illegal activities. Any employee who becomes aware of any suspicious activity must report it to the designated AML Compliance Officer immediately, and in accordance with the reporting requirements outlined in the BSA and its implementing regulations.

AML Compliance Program:

OverEx Capital has implemented an AML compliance program to ensure that its operations are in compliance with applicable laws and regulations, including the BSA and its implementing regulations. This program includes regular employee training, independent audits, and ongoing review and updating of our AML policies and procedures.

Conclusion:

OverEx Capital is committed to providing investment services in a safe and secure environment, and to preventing the use of its services for illegal activities. Our AML policy and compliance program are designed to detect and prevent any suspicious activity related to money laundering or other illegal activities. By implementing this policy, OverEx Capital is taking an active role in the fight against money laundering and other illegal activities, and is protecting its clients from any legal or financial exposure.

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