In an aim to protect its clients from money spinning and the financing of terrorism, GantFX acts in accordance with the guidelines of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL. This pan-European monitoring body with 47 member states, reports directly to its principal organ – the Committee of Ministers of the Council of Europe. MONEYVAL appraises compliance with the principal international standards to counter money laundering and the financing of terrorism. It also judges the effectiveness of their implementation, and presents recommendations to national authorities regarding necessary improvements to their systems. Furthermore, MONEYVAL conducts typology research of money laundering and terrorist financing methods, trends and techniques. The organization was originally an observer to the FATF before becoming an associate member as of June 2006. Therefore, GantFX has implemented procedures to prevent people from laundering money.
Cash or cash equivalents are first moved into other accounts (e.g. futures accounts) via financial institutions, instruments through a series of financial transactions designed to hide the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts).
In the second stage is “layering” aka “structuring stage”. Funds are broken down into small transactions, making it difficult to detect the laundering activity. In the modern world, the funds can also be used for trading in different stocks or currencies across different markets.
Another common way that criminals use to cover the trail is buying assets with the cash and selling them. Assets can be re-sold locally or abroad and hence makes it harder to trace and thus seize.
