Why we ask questions
In accordance with Act on Preventing Money Laundering and Terrorist Financing (444/2017) FOREX is obliged by law to prevent money laundering, financing of terrorism and financial crimes. Some of the questions asked are related to this law. Some of the questions are based upon our need to know our customers and their commitment with us.
TOGETHER WE FIGHT MONEY LAUNDERING
We always strive to make your experience easy, personal and efficient. To protect you, us and our society at large we are also very serious about fighting financial crimes such as money laundering, financing of terrorism, trafficking and trading with illegal weapons. We know that most of our customers have good intentions, but we always ask everyone the same questions just to be sure.
VERIFICATION OF IDENTITY
FOREX is obliged by the Act on Preventing Money Laundering and Terrorist Financing to identify their customers and to gather information about the customers' transactions. Based on this you will be asked to present a valid identification. See accepted identification documents.
Your personal data is safe with us
The information you give us is subject to bank secrecy, GDPR and the Act on Preventing Money Laundering and Terrorist Financing and will be handled confidentially, unless we are obliged by law to inform authorities KYC-data and other personal data that is processed to prevent and disclose money laundering is only used for the aforementioned purposes.
WHAT WE ASK ABOUT
FOREX is obliged by the Act on Money Laundering and Terrorist Financing to identify their customers and to acquire good knowledge of the purpose for different transactions. In addition, we need to have sufficient information about the origin of money.
When we are gathering information about the origin of money, we might need to acquire in addition to a statement in writing, documents such as contract of sale, receipts and estate inventory.
By handing these acquired documents to us, you are helping us to prevent and to fight criminal activity. You will also help society at large.
Politically exposed position
By the Act on Preventing Money Laundering and Terrorist Financing we are also obliged to verify if our customers are active in a politically exposed position (PEP), is a family member of a politically exposed person (PEP) or is a person who together with a politically exposed person (PEP) owns a company or have a decisive role in a company owned by a politically exposed person (PEP). We will never ask for your personal political opinion.
A politically exposed person (PEP)
The Money Laundering Act places high demands on FOREX to be well acquainted with its customers and their transactions. In the case of a PEP, FOREX must take measures which go beyond normal measures – i.e. enhanced customer due diligence. This means, among other things, that FOREX must obtain the approval of a senior manager within FOREX before a commercial relationship is entered into with a PEP.
Due to the current circumstances, we have adjusted our service and can therefore serve our PEP customers only on weekdays (Monday to Friday). We apologize for any inconvenience this may cause to our customers.
More information
Find out more at Financial Supervisory Authority's website.