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.