Individual Account Opening Document Requirements

The AML policy and procedure at Wavetrade detailed below is structured around strict guidelines to make sure that funds are securely sent back to their originating source and beneficiary.

• Wavetrade clients must complete a withdrawal request containing their correct account information.
• All withdrawal requests are submitted to Wavetrade's Accounts department for processing. Our Accounts department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request, pending compliance approval.
• Wavetrade's Accounts department reviews all withdrawal requests, verifying that the original funds are withdrawn via the same method of deposit and to the account holder on file. Our team examines the withdrawal request against the customer's deposit history to make sure there is no suspicious activity and verifies the bank account on file.
• Approved withdrawal requests will be processed and funds released to the client.
• If a withdrawal is flagged as suspicious, it is placed on hold and escalated internally for further investigation.
• The outcome of the investigation may require Wavetrade to involve external authorities, such as the Mauritius Financial Intelligence Unit (FIU).

The AML policy and procedure at Wavetrade are structured around strict guidelines to ensure that funds are securely returned to their originating source and rightful beneficiary.

• Wavetrade monitors funding from various bank accounts outside of the account holder's home country.
• Wavetrade performs its actions in line with the anti-money laundering framework set forth by the Financial Action Task Force (FATF).
• Wavetrade does not accept cash deposits nor disburses cash under any circumstances.
• Wavetrade does not accept third-party deposits of any kind.
• Wavetrade matches each deposit to the account name on file for that customer.
• Wavetrade reserves the right to refuse processing a transaction at any stage where it believes the transaction to be connected in any way to money laundering or criminal activity.
• In accordance with applicable law, Wavetrade is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.

Before opening an account, Wavetrade documents the identity, nature of business, income, source of funds and wealth (if applicable), and investment objectives of each prospective customer.

While we welcome clients from across the globe, governmental restrictions along with our internal policy prohibit Wavetrade from opening accounts originated from the following restricted and/or FATF high-risk or sanctioned jurisdictions.

(Note: The current list is maintained and updated regularly based on FSC and FATF guidance.)