LEGAL DOCUMENTATION
Anti-Money Laundering (AML) & Counter‑Terrorist Financing (CTF) Policy
1. Purpose of the policy
This Anti-Money Laundering (AML) & Counter‑Terrorist Financing (CTF) Policy
(hereinafter the “Policy”) outlines the measures taken by VEO Markets Ltd., a company
incorporated in St. Lucia, (hereinafter the “Company”) to prevent the use of its services for
money laundering, terrorist financing, fraud, and other financial crimes.
The Company operates as an International Business Company (IBC) incorporated in Saint
Lucia, where FX/CFD brokerage is not regulated, but the Company voluntarily complies with
international standards to meet expectations in global markets.
2. Regulatory framerwork we follow
The Company’s AML/CTF framework aligns with, Saint Lucia Anti‑Money Laundering Act, Financial Intelligence Authority (FIA) requirements, FATF 40 Recommendations (global standard), EU AML Directives (AMLD4–AMLD6), and global common AML norms.
Our policies are designed to satisfy the risk and compliance requirements of global partners, payment processors, and financial institutions.
3. Our AML / CTF commitment
We maintain a robust AML/CTF program designed to prevent the use of our services for criminal activity, ensure all clients are properly verified, screen clients against global sanctions and PEP lists, detect and report suspicious activity, maintain high standards of client protection and comply with, amongst others, global banking and PSP requirements
We have a strict zero‑tolerance approach to money laundering and terrorist financing.
4. Money laundaring
Money Laundering is the process of attempting to conceal the true origin and ownership of the proceeds of criminal activities in an effort to legitimate such funds.
It is accomplished in three (3) stages:
Placement
The physical disposal of cash proceeds derived from criminal activity through among others, converting them into financial instruments or bank deposits in a manner that will not raise suspicions.
Layering
Separating the illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the audit trail and provide anonymity;
Integration
The provision of apparent legitimacy to wealth derived from crime. If the layering process succeeds, integration schemes place the laundered proceeds back into the economy in such a way that they re-enter the financial system appearing as normal business funds.
5. Terrorist financing
Terrorist Financing refers to the act of providing funds or market mediums, or engaging in activity related to receiving, collecting, disposing, or managing monies, with the explicit goal of facilitating or assisting in the execution of terrorist operations. This can be done by either a terrorist organization or an individual terrorist, using the financial system.
6. Policies and procedures
The Company has established policies and procedures to prevent money laundering and terrorist financing activities in compliance with the law. These policies and procedures are designed to ensure that the client’s activity is monitored, the client is known, and the necessary records are maintained.
The most important procedures the Company implements to achieve these are the following:
A. Identification and due diligence procedures of new and existing clients which comprise of:
• Verifying the client’s identity based on documents, data or information obtained from a reliable independent source.
• Identifying the ultimate beneficial owner including as regards to legal persons, trusts, companies, foundations, and similar legal arrangements taking reasonable measures to understand the ownership and control structure of the client.
• Assessing and as appropriate obtaining information on the purpose and intended nature of the business relationship.
B. Record Keeping procedures in relation to the client’s identity and their transactions such as:
• Conduct ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the Company’s knowledge of the client, the business and risk profile, including where necessary the source of funds and ensure that the documents, data or information held are kept up to date.
C. Internal reporting procedures to a competent person (the AMLCO) appointed to receive and consider information that give rise to knowledge or suspicion that a client may be or is engaged in money laundering and terrorist financing activities.
D. Appropriate procedures of internal control, risk management, with the purpose of preventing money laundering and terrorist financing activities.
E. Detailed examination of every transaction that due to its nature is considered vulnerable to money laundering and terrorist financing, and especially of complicated or unusually large transactions and transactions that take place without an obvious financial or legal purpose.
F. Measures for making employees aware of the above procedures to prevent money laundering and terrorist financing and of the relevant legislations;
G. Provision of regular training to employees to help them in the recognition and handling of transactions suspected to be associated with money laundering and terrorist financing.
All clients must complete KYC verification before accessing our services.
For more details, see our KYC Policy which can be found on our website. In summary, we verify, Identity documents, Proof of residential or business address, Beneficial ownership (for corporate/institutional clients), purpose of account and intended activity
No client may transact unless KYC is fully completed.
7. Prohibited clients
We do not accept clients who:
• Are under eighteen (18) years old
• Are residents or citizens of sanctioned countries
• Appear on sanctions lists
• Are identified as high‑risk PEPs without adequate controls
• Refuse to provide mandatory KYC documents
• Cannot pass verification checks or appear suspicious
• Are involved in illegal, fraudulent, or high‑risk activities
8. Additional documentation and termination
Some clients may be required to submit additional documentation as required at any point in the business relationship.
Enhanced Due Diligence may be applied but not limited to PEPs or their family members/close associates, clients from high‑risk jurisdictions, complex or opaque company.
9. Monitoring of client activity
We continuously monitor accounts to ensure customer activity matches their stated profile.
If suspicious activity is detected, we may request additional information or documents, restrict activity, freeze or close accounts, report suspicious transactions to authorities if required
10. Recordkeeping
We securely retain KYC documents, transaction logs, communications related to compliance reviews.
All records are kept for a minimum of seven (7) years after the business relationship ends, in accordance with global best practices.
11. Company rights
We reserve the right to request, collect and validate any document obtained from its clients prior to account opening and any payment of proceeds, to refuse service to any client who poses a compliance risk, to suspend accounts pending further review, to delay or block transactions until verification is completed.
Clients should assume that all the information provided to the Company is available to any bank, payment provider or any third party.
The Company reserves the right to refuse to process a transfer of funds at any stage if it believes it to be connected in any way to criminal activities or money laundering.
Third party or anonymous payments shall not be accepted. If the Company is not satisfied that you are the sender of the money, it reserves the right to reject the money and return it to the remitter less any transfer fees or other charges, the Company further reserves the right to terminate your account held with the Company with immediate effect.
The Company 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.
12. Client responsibilities
Clients must always provide accurate and truthful information, update information when changes occur, cooperate with verification requests and use only their own payment methods
13. Policy review
This Policy is reviewed annually, or sooner if required due to changes in laws or regulations, updates to FATF or international standards, changes in risk exposure across jurisdictions.
VEO Markets Ltd is committed to maintaining a safe, transparent, and compliant financial environment for all clients worldwide.
