AML policy

The Anti-Money Laundering Policy of Blue Chip Broker is a crucial part of the company’s code of ethics. Its purpose is to ensure that customers who choose to engage in illegal activities are held up to a moral standard, while the rest of our clients who do not engage in illegitimate actions feel safe using our products. Money laundering is defined as “the process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.”

By presenting illegally obtained funds as legitimate, one commits a crime as they intentionally obscure the illegitimate source of that money. Both domestic and international laws condemn money laundering and make it illegal for companies that provide financial services, such as Blue Chip Broker, as well as its customers, employees or agents to knowingly engage or attempt to engage in this type of criminal transactions.

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Procedures

Blue Chip Broker has implemented a highly sophisticated system for the detection of any signals that might suggest a customer is engaging in such illegal activities. This system keeps a record of and verifies all client identification materials, and tracks and maintains detailed records of all transactions.

Blue Chip Broker dedicates its keen attention to tracking suspicious and significant transaction activities, and reports such activities along with comprehensive information to the relevant law enforcement bodies. To maintain the integrity of reporting systems and to safeguard businesses, the legislative framework provides legal protection to the providers of such information.

A key step to preventing and discouraging money laundering using our platforms is the fact that Blue Chip Broker does not accept cash deposits. Blue Chip Broker has the right to refuse to process a transfer at any stage where it believes the transfer to be connected in any way to money laundering or criminal activity. Blue Chip Broker cannot inform customers that they have been reported for suspicious activity.

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Requirements

In order to comply with anti-money laundering laws, Blue Chip Broker requires a number of different documents to verify the identity of each customer.

The first document required is a legal government-issued document of identification that contains a picture of the customer. This may be a government-issued passport, a local ID card, or a driver’s license (for countries where the driver’s license is accepted as a primary identification document). Company, student or other cards are not acceptable forms of identification.

The second step is to verify your address. This may be done through your document of identification if it includes it. Other acceptable records are bills paid in the past three months that include your name and address, bank statements or any other document with the customer’s name and address issued from an internationally recognized organization.

Any documents in non-Latin letters must be translated into English by an official interpreter; the translation must be stamped and signed by the translator and a notary, and sent together with the original document with a clear picture of the customer on it.

Blue Chip Broker requires that all deposits where the name of the originating customer is present be made from the same name of the customer in our records. Third-party payments are not accepted.

Withdrawing money may be done from the same account and by the same way it was received. For withdrawals where the name of the recipient is present, the name must be an exact match for the name of the customer in our records. For example, if the deposit was made by a wire transfer, funds may be withdrawn only by a wire transfer to the same bank and to the same account from which it originated. If the deposit was made via an electronic currency transfer, funds may be withdrawn only via an electronic currency transfer through the same system and to the same account it originated from.

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KYC policy

KYC (KNOW YOUR CUSTOMER) POLICY

Know your customer policies have become increasingly important on a worldwide basis, especially among banks and other financial institutions, in order to prevent identity theft, money laundering, financial fraud and terrorist activity.

Blue Chip Broker holds a zero tolerance fraud policy, and is taking all measures possible to prevent it. Any fraudulent activity will be documented and all accounts related to it will be immediately closed. All funds in these accounts will be forfeited.

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Prevention

Blue Chip Broker aims to ensure the integrity of any sensitive data it obtains, such as your account information and the transactions you make, using a variety of security measures and fraud controls. Securing your electronic transactions requires us to be provided with certain data from you, including your preferred deposit method.

When you deposit funds we will require the following documents:

• a copy of your valid passport with the signature page;
• copies of your credit cards, used to make the deposit, one or more (if available) of the following options to confirm possession of the card by the owner:
  • recent copy of a bank statement containing cardholder’s full name, first 6 and last 4 digits of card number (sensitive data must be covered), and the payment in question. If screeenshots are provided the page URL muast be visible.
  • authorization code for the payment in question (AUTH code) – it is usually contained in the transaction data when the client accesses their bank account.
  • clear color copies of both sides of the card. The middle of the card number should be covered on both sides, leaving the first 6 and last 4 digits visible; on the back side, CVC/CVV code should be covered.
• a copy of a recent utility bill in your name and address.

If you have any questions please don’t hesitate to contact our customer support: support@bluechip-broker.com

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When do I need to provide these documents?

We highly appreciate you taking the time to provide us with all the necessary documents as soon as you can, in order to avoid any delays in processing your transactions. We require the receipt of all the necessary documents prior to making any cash transactions from your account. Documents be checked within 48 working hours after submission.

Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades.

Please note that if we do not receive the required documents on file, your pending withdrawals will be canceled and credited back to your trading account. We will notify you of such an event via our system. To avoid pending transaction cancellation we recommend to provide documents within 24 hours after request.

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How can I send you these documents?

Please scan your documents, or take a high quality digital camera picture, save the images as jpeg,bmp,png,doc and docx, then send it to us via mail to: support@bluechip-broker.com

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How do I know my documents are safe with you?

Blue Chip Broker holds the security of documentation at the highest priority, and treats all documents it receives with utmost respect and confidentiality. All files we obtain are fully protected using the highest possible level of encryption at every step of the review process.

We thank you for your cooperation in helping us make Blue Chip Broker a safer place to trade.