1. Regulatory Framework
Xylo Markets complies with the UAE Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism, FATF Recommendations, GCC AML directives, and applicable sanctions regimes including UN, EU, UK HM Treasury, and US OFAC lists.
2. Customer Due Diligence (CDD)
All clients undergo identity verification before account activation. We collect government-issued ID, proof of address, and source-of-funds documentation. Enhanced Due Diligence (EDD) applies to high-risk clients, PEPs, and high-volume accounts.
3. Ongoing Monitoring
Trading activity, deposits, and withdrawals are monitored in real-time by automated transaction monitoring systems. Unusual patterns trigger manual review by our compliance team.
4. Source of Funds
We require clear evidence of the legitimate origin of funds for any deposit. This may include bank statements, payslips, tax returns, or sale-of-asset documentation.
5. Restricted Activity
Xylo Markets prohibits: third-party deposits, anonymous transactions, transactions with sanctioned individuals or entities, and any activity inconsistent with the declared trading profile.
6. Reporting Obligations
We file Suspicious Activity Reports (SARs) with the UAE Financial Intelligence Unit (FIU) and equivalent authorities in client jurisdictions where required. We may freeze accounts pending investigation without prior notice.
7. Record Keeping
All KYC documents and transaction records are retained for a minimum of 5 years after account closure, in line with regulatory requirements.
8. Training & Governance
Our MLRO and compliance team undergo continuous training. AML policies are reviewed annually and approved by the Board of Directors.