Anti-Money Laundering policy
1. INTRODUCTION
2. OXTRADES AML POLICY
3. ACCOUNT OPENING PROCEDURES - KNOW YOUR CUSTOMER POLICY (“KYC”)
4. BANK ACCOUNT REQUIREMENTS
5. FUNDS WITHDRAWAL PROCEDURE
6. COMPLIANCE FOOTNOTE
ANTI-MONEY LAUNDERING POLICY INTRODUCTION
Voya Group (IBC) LTD (hereinafter referred to as ‘Oxtrades” or the ‘Company’)
is registered in St. Lucia, with registration number 2024-00158. The
Company’s registered address is located ADCO INCORPORATED, #10 MANOEL STREET, CASTRIES, ST. LUCIA.
Additionally, Oxtrades carries out its activities in line with the Financial Intelligence
Centre Act, 2001 (Act No. 38 of 2001) as amended by the Protection of
Constitutional Democracy against Terrorist and Related Activities Act, 2004 (Act
No. 33 of 2004), the Financial Intelligence Centre Amendment Act, 2008 (Act No. 11
of 2008), the General Intelligence Laws Amendment Act, 2013 (Act No. 11 of 2013),
the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017) and the
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017).
Oxtrades also follows the Financing Control Regulations, under Money Laundering
and Terrorist Financing Control Regulations, 2002, published in Government Notice
No. R. 1595 of 20 December 2002 as amended by GN R456 in Government Gazette
27580 of 20 May 2005 and GN R867 in Government Gazette 33596 of 1 October
2010 and GN 1107 in Government Gazette 33781 of 26 November 2010 and GN R.1062
in Government Gazette 41154 of 29 September 2017. The Minister of Finance has, in
terms of section 77 of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001),
made the regulations set out in the Schedule.
Furthermore, Oxtrades is operating in line with the FATF Recommendations. The
“Financial Action Task Force” (“FATF ‘’) set standards and promote effective
implementation of legal, regulatory, and operational measures for combating
money laundering, terrorist financing and other related threats to the integrity of
the international financial system. Starting with its own members, the FATF monitors
countries’ progress in implementing the FATF Recommendations; reviews money
laundering and terrorist financing techniques and countermeasures; and promotes
the adoption and implementation of the FATF Recommendations globally.
OXTRADES AML POLICY
At Oxtrades we are devoted in preventing money laundering activities and identifying
suspicious transactions, therefore we have implemented the following measures to
comply with our regulatory requirements:
• Verifying our client’s identity and place of residence.
• The nature of the client’s business.
• The intended purpose of the business relationship concerned and the source of
the funds which the client expects to use.
• Identifying, monitoring and reporting any kind of suspicious transactions.
• Keeping documents and records for at least 5 years after the termination of the
business relationships with our clients.
• Continuous training of our staff to recognize suspicious transactions, fulfill all
reporting obligations and keep up to date with the AML regulatory requirement.
• Depending on client location, report any suspicious activities to authorities in
several countries.
In addition to the abovementioned OXTRADES:
• Collects, verifies and updates at least annually the personal identification
information of all account holders.
• Tracks any suspicious transactions made by clients and any transactions
executed under non-standard trading conditions.
• Does not accept deposits from 3rd parties nor cash deposits or disbursements
under any circumstances.
• Matches each deposit to the account name held on file for that customer.
• Monitors funding from bank accounts held outside the account holder’s home
country.
• Reserves the right to refuse to process a transaction where it believes the
transaction to be connected in any way to money laundering or criminal
activity. In accordance with international law, Oxtrades is under no obligation
to inform the client when suspicious activity is reported to any corresponding
regulatory or legal bodies.
! All OXTRADES client funds are held in separate, segregated accounts that are
designated solely for client deposits and withdrawals!
ACCOUNT OPENING PROCEDURES
KNOW YOUR CUSTOMER POLICY (“KYC”).
Account Opening Requirements
• In order to open a trading account with Oxtrades, the potential client must have a
permanent residence in a country not within the European Economic Area (EEA)
and be over 18 years old. In addition, the steps listed below must be followed:
• complete the account opening application, which includes providing personal
information (name, date of birth, etc), information relating to his/her economic
profile (annual income, estimated net worth, employment status, etc.)
• complete the appropriateness test
• provide identification documents which consist of a valid form of government issued identification and a proof of residence
! Please note that from the day of receipt of the account opening application
a timeframe of 1 month is given to provide the required information and
documentation. If the potential client fails to provide these within the
aforementioned timeframe, the Company will decline the application and in case
of any deposits, will refund the available balance back to the method used to
deposit the funds.
Identification Documents:
1. Proof of Identity
Following documents are accepted as a Proof of Identity:
• A valid Passport
• A valid National Identity Card
• A valid government ID, such as a Driver’s License
• A valid Residence Permit
The document must be issued on your name and all information on the
document including your photo must be visible.
! Please keep in mind that your Proof of Identity must be updated once the
document expires.
! All photo IDs are verified through a third-party compliance software.
The Company reserves the right to ask for certified true copies of the above
mentioned documents.
2. Proof of Residence
Following documents are accepted as a Proof of Residence:
• A utility or phone bill
• A bank statements
• Governmental documents such as tax bill or residence certificate
(stamped)
• Please note that your proof of residence document must be recent (not
older than 6 months), show your name, permanent address and date of
issue.
Please keep in mind that your Proof of Residence must be updated at least once per year! (After the documents are provided it will be checked and accepted or rejected within 3 business days.)
The Company reserves the right to ask for certified true copies of the above
mentioned documents.
Additionally, the company reserves the right to request additional documents
from its clients whenever it deems necessary.
BANK ACCOUNT REQUIREMENTS.
Oxtrades account holders must have a valid bank or credit card account in their
name. The bank/credit card statement must show their name and the same
registered address as that shown on their application.
FUNDS WITHDRAWAL PROCEDURE.
The withdrawal procedure at Oxtrades detailed below follows strict principles to
ensure that the funds are sent back to their originating source.
a. Oxtrades customers must complete a signed paper or digital withdrawal request
containing inter alia, their correct account information.
b. The withdrawal form must be submitted to the Oxtrades Finance department for
processing. The Finance department will do the following:
• confirm the account balance
• confirm that the account is approved and the provided documents are up-to date.
• verify that there are no holds or withdrawal restrictions on the account
• verify that the original funds are being withdrawn through the same method of
deposit and to the name of the account holder on file
• examine the withdrawal request against the customer’s deposit history to
ensure there is no suspicious activity
• verify the bank account details held on file
• If there is no mismatch or suspicious activity the Finance Department will
approve and the money will be sent to the customer within 7 business days by the method of customer's choice.
• In the event that the Finance Department believes there was suspicious activity
on the account, the Oxtrades Anti-Money Laundering Compliance Officer
(AMLCO) will be informed, in order to perform further investigation.
• If the withdrawal is flagged for suspicious activity by the Oxtrades AMLCO, the
withdrawal is placed on hold, and sent to the Oxtrades Management.
• Oxtrades Management along with the Oxtrades AMLCO will decide if further
action is needed and which, if any, relevant regulatory bodies need to be
contacted.
! Please note that your trading account must be verified in order for the withdrawal
to be processed!
COMPLIANCE FOOTNOTE.
The compliance procedure related to AML listed above is only a brief summary of
the compliance function guidelines followed by the Oxtrades Compliance Team.
A detailed copy of our Compliance Policy is available for qualified institutions,
regulatory bodies and related counterparties.
No substitutions or modifications will be accepted to the requirements above. The
Oxtrades Compliance Department reserves the final determination regarding the
validity of these documents.
1. Clients should assume that all information provided to the Company is available
to the competent regulatory authorities in the country of incorporation of the
Company, i.e. the of St. Lucia Island;
2. the country of origin of any funds transmitted to Oxtrades; and
3. the destination country of any funds refunded by or withdrawn from the
Company.
Oxtrades does not wish to enter into a business relationship if the funds are sourced
from criminal activities or if the nature of your account transactions is illegal in any
manner whatsoever.
The Company reserves the right to review and/or amend its Anti Money Laundering
Policy, at its sole discretion, whenever it deems fit or appropriate.
Our AML Policy is a policy only but is not part of our Terms and Conditions of
Business and is not intended to be contractually binding.
For additional questions concerning Oxtrades policies, please contact our Compliance
Department:
Email: [email protected]
Attn. Compliance Department, Voya Solutions (PTY) LTD, registration 2024-00158.
Address: The Company’s registered address is located at ADCO INCORPORATED, #10 MANOEL STREET, CASTRIES, ST. LUCIA.
Voya Group (IBC) LTD
Oxtrades is operated by Voya Group (IBC) LTD, a St. Lucia investment firm,
Voya Group (IBC) LTD, registration number 2024-00158.
Registered Address: The Company’s registered address is located at ADCO INCORPORATED, #10 MANOEL STREET, CASTRIES, ST. LUCIA.
Website: www.Oxtrades.com
Email: [email protected]
