Money Laundering

FX City website is a trading brand owned by Fintecom Sp. z o.o. — a National Payment Institution authorised by the Financial Supervision Authority.

As an entity making transactions in the financial market, Fintecom Sp. z o.o. is obliged to carry out preventive anti – money laundering (AML) actions in accordance with the applicable law. This term is used to describe putting into circulation monetary values from illegal or undisclosed sources.

Therefore, we observe the principles relating to the prevention of money laundering and the counteraction of terrorism financing , although frequently the application of all the principles above may be onerous for all fair customers. Therefore, we apologise for this in advance.

In accordance with the Anti – Money Laundering Act, we are obliged to apply financial safety measures, in particular to:

• identify and verify our customers’ identity,
• identify a beneficial owner,
• assess cooperation risk,
• register, monitor and assess all transactions in relation to AML,
• appoint a trained employee to deal with matters related to AML,
• continuously improve the qualifications of our employees within the above – mentioned scope,
• continuously improve the company’s internal AML system,
• store records related to all transactions for 5 years,
• ask customers to present a proof of the source of the money, in particular in the case of transactions above EUR 10,000
• report transactions above EUR 15,000 to the General Inspector of Financial Information,
• block and stop suspicious transactions.

Legal basis

The Act of 1 March 2018 on the Prevention of Money Laundering and Terrorist Financing

The provisions

Some provisions of the law governing companies rendering money transfer services

• The Payment Services Act of 19 August 2011
• The Act of 1 March 2018 on the Prevention of Money Laundering and Terrorist Financing
• The Personal Data Protection Act of 10 May 2018
• Directive (EU) 2015/849 of the European Parlliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC

• Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006

• Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation)