Anti Money Laundering

The principal objective of money laundering is to convert cash into some other form of asset in order to conceal its illegal origins.

 

Money laundering is the process whereby criminals conceal illicit funds by converting them into seemingly legitimate income. While the term refers to the monetary proceeds of all criminal activity, it is most often associated with the financial activities of drug traffickers who seek to launder large amounts of cash generated from the sale of narcotics.

 

Just to make things clear, iGolder does not deal with any money - never mind handling cash.  Therefore money laundering is impossible with the use of our website.  We do have a policy however to not assist our members doing any money laundering.  The tenet to combat money laundering is Knowing Our Customers and requiring our exchangers to Know Their Customers when handling large amounts of cash.  Since our exchangers all have accounts at banks with anti-money-laundering practices in place, this means that all money used for purchasing gold is theoretically "clean".  If the money is not clean, then it is the bank who accepted the cash money from the exchanger who is at fault, not iGolder.  Money laundering is impossible at iGolder as long as all the cash money coming in and out of our exchangers goes through banks with anti-money laundering practices in place.