AML (Anti-Money Laundering) Page Procedure
When it comes to protecting our client’s funds, Jones Mutual has raised the bar. Jones Mutual is devoted to fulfilling its regulatory responsibilities for fighting any form of money laundering. With that said, several procedures have been implemented in order to abide by industry-wide standards of AML practices.
Why do we worry about Money Laundering?
Money laundering has been a method widely practiced to use “dirty” (illegally obtained) money and make it look clean for use in the legal economy. This is done by securing the money through valid sources which will then make it very difficult to be traced back to the original criminal activity that generated it.
Jones Mutual happens to be a strong supporter of specific laws in place which prevent money laundering. We work closely with local law enforcement agencies preventing any activity aside from money launderings like theft, terrorism, or any unlawful activity linked to one of our accounts.
What Are Our AML Practices?
We begin our AML prevention right from the start utilizing a procedure called “Know Your Client,” or KYC. Upon registration, all new clients are required to provide us with specific copies of documentation, like a government-issued ID, their proof of residency, and banking records which confirm they are the sole owners of the account. After reviewing these documents, we will then activate the account. Your privacy is of the utmost importance, and we handle your private details with the highest levels of security.
For an account to be activated with Jones Mutual, all necessary KYC verification documents mentioned above must be received within 72 hours. After you have completed your registration on our website, you will be notified by our compliance department by email regarding these documents. Should you have any questions about the KYC process, feel free to contact our customer support team.