Anti Money Laundering

Policy Statement:
Range Markets Ltd is a legal, ethical, and transparent company, and it takes the responsibility
to ensure and maintain that its assets and resources are not being used for corruption,
irregularities, or money laundering. The company has taken it upon itself to detect frauds,
irregularities, abuse of position, and institutional gains.
Purpose:
The purpose of this policy is to make that the company’s financial processes and procedures
are according to the anti-money laundering laws.
Scope:
This policy applies to every entity related to Range Markets Ltd and its employees, directors,
officers, contractors, or any third party working on behalf of the company.
The policy is for internal use, and the administration is required to convey it to every concerned
person or entity. Failure to comply with the policy will result in appropriate action.
Money Laundering:
Money laundering refers to those assets that are money that is acquired in exchange for money
or assets gained unlawfully. It also includes money spent for terror purposes, regardless of the
means it was obtained.
Under this policy, money earned by using the following means is considered money laundering,
and it is prohibited;
a. Money or assets received in exchange for criminal or unlawful acts. Money whose
origin is not explicit or earned by assisting any activity in evading lawful means.
b. Property gained after any criminal activity and its origin, location, and disposition are
not transparent.
c. Property which is promoting any unlawful activity
d. Terrorism financing
Compliance:
The company will establish a body responsible for the implementation of this policy.
The company will carry out the procedure to identify any irregularity on behalf of any
stakeholder under this policy. The company should;
a. Identify all the financers of the company and verify their identity
b. Take special care where stakeholders want anonymity
c. Maintain proper records of the stakeholders
If anyone in the company knows or suspects that a person is involved in money laundering or
terror financing, it is their responsibility to report such person to the body established by the
company. In such a case, the company must
a. Take the details of the people involved
b. Verify the type of transactions
c. Reason for suspicion
d. The amount involved
The company must consult with the legal department before embarking on business with a third
party and carefully screen such interactions.
The policy is subject to updates and amendments, which will be communicated to the
stakeholder immediately.
Enquiries:
For further AML enquiries contact us at support@rangeforex.com .