1. Definition
Money laundering refers to the act of concealing or disguising the origins of money obtained through illegal means by converting it into legitimate assets or activities. This includes proceeds from terrorism, drug trafficking, corruption, human trafficking, and other criminal acts.
2. Policy statement
Loyal Primus LTD ("the Company") is an entity incorporated in Saint Vincent and The Grenadines with the following registrations: Company Number 26626 BC 2022. The company complies with all applicable laws and regulation in Saint Vincent and The Grenadines.
Loyal Primus LTD ("the Company") strictly prohibits any activity that facilitates money laundering or the financing of terrorism. We are committed to full compliance with applicable AML laws and regulations in all jurisdictions where we operate. This policy applies to all employees, agents, and services of the Company.
3. Compliance framework
The Company has implemented an internal AML program to:
Detect, prevent, and report suspicious activities.
Maintain effective client due diligence (CDD) and enhanced due diligence (EDD).
Comply with the AML/CTF Act and relevant international guidelines, including FATF Recommendations.
The appointed Compliance Officer oversees the implementation, enforcement, and review of this policy.
4. Customer identification (KYC)
Prior to account activation, the following documents are required:
Proof of Identity: Government-issued photo ID (passport, national ID, or driver’s license).
Proof of Address: Utility bill, bank statement or driver license dated within the last 6 months.
For verification purposes, the Company will rely on government-issued identification to confirm a customer's identity. Additionally, the Company will review the submitted information to identify any logical inconsistencies. All verification steps including the identification details provided, the verification methods used, and their outcomes will be fully documented, including confirmation by an authorized representative that the photo ID matches the customer.
If a customer refuses to provide the required information or is found to have deliberately submitted false or misleading documents, the responsible officer must escalate the case to the Chief Compliance Manager. In such cases, the Company will reject the application.
5. Prevention of third-party funding & withdrawals
The Company maintains a strict policy against third-party funding. All deposited funds must originate from a bank account, card, or digital wallet registered under the same name as the trading account holder. Transfers of trading funds between accounts owned by different individuals are strictly prohibited to mitigate money laundering risks.
Withdrawals are permitted only to bank accounts or payment methods under the same name and ownership as the trading account holder. While clients may use different banks or wallets for withdrawals, all must be verified and belong to the same individual. All withdrawals will be processed in the original deposit currency to ensure transparency and traceability.
6. Transaction monitoring
The Company implements a strict Anti-Money Laundering (AML) framework in accordance with the guidelines of the Financial Action Task Force (FATF). As part of this framework, the Company collects, verifies, and securely stores all client identification data and maintains detailed, itemized records of every transaction conducted by each client.
The Company continuously monitors client activity for suspicious transactions or any operations conducted under abnormal or non-standard conditions. Advanced systems and manual oversight are used to detect patterns indicative of money laundering, terrorist financing, or other illicit activities.
Cash deposits or withdrawals are strictly prohibited under any circumstances. The Company only processes electronic transactions through verified and traceable financial channels.
The Company reserves the absolute right to refuse, delay, or cancel any transaction at any stage if it suspects that the transaction is linked to criminal conduct or money laundering. In line with international AML obligations, the Company is not required to notify the client if a Suspicious Activity Report (SAR) is filed or if the client has been reported to relevant authorities.
7. Prohibited jurisdictions
Loyal Primus does not accept clients from restricted or OFAC-sanctioned countries including (but not limited to):
Afghanistan, DPRK, Iran, Iraq, Syria, Myanmar, Yemen, and others as updated in internal compliance lists.
U.S. residents or entities are not permitted to open accounts.
8. Training and awareness
All employees undergo regular AML training to ensure they understand the legal requirements and how to recognize/report suspicious activity. Training is updated annually or when relevant regulatory changes occur.
9. Contact details
Compliance Department: compliance@loyalprimus.net
Customer Support: support@loyalprimus.net