Our Regulation



TiMarkets Anti-Money Laundering and Know Your Customer Policy ( Referred to as the "AML And KYC Policy”) has been designed to both prevent and also mitigate any possible risks of TiMarkets being involved in any kind of illegal activity.

Both international and local regulations mandate TiMarkets to implement effective internal procedures and develop mechanisms for the prevention of terrorist financing, money laundering operations, drug and human trafficking, and corruption. Moreover, TiMarkets is required to take action in case it determines that any of its users have been or are involved in any of the above activities.

The AML/KYC Policy covers the following:

  • Verification procedures.
  • Risk Assessment
  • Compliance Officer
  • Monitoring Transactions
Verification Procedures

One of the global standards for actively preventing any form of illegal activity is customer due diligence (CDD). TiMarkets has established its own internal verification procedures that are within the ambit of Know Your Customer and anti-money laundering frameworks, as determined by the law. They include the following:

  • Identity Verification Protocols

TiMarkets’s user’s identity verification protocol requires the user/customer to provide TiMarkets with independent and reliable source documents, data or information. These may include international passport, government-issued ID cards, bank statements and/or unitality bills.

TiMarkets will take all appropriate steps required to confirm the authenticity of the documents and ancillary information provided by the users. TiMarkets reserves the legal right to investigate any and all users that it considers risky or suspicious.

Once the user/customer’s identity has been properly verified, TiMarkets stands absolved from any potential legal liability in case its services are missed for the purpose of conducting any sort or form of illegal activity

Risk Assessment

TiMarkets has in line with the international requirements, adopted a risk-based method towards combating money laundering operations. This method is designed to ensure that all standing measures to either prevent or outrightly mitigate money laundering operations are commensurate to their identified risks. The concept is based on the principle that risk assessment resources have to be directed in accordance with their priorities. This way the highest apparent risks will receive the highest attention.

The Compliance Officer

The Compliance Officer (CO) is a duly authorized individual whose duty is to ensure the comprehensive and effective implementation and enforcement of TiMarkets’s AML/KYC Policy. It is the CO’s responsibility to supervise all the various aspects of TiMarkets’s anti-money laundering and counter-terrorist financing activities.

The Compliance Officer is authorized by TiMarkets to interact with law enforcement agencies that are involved in the prevention of money laundering and other illegal activities.

Monitoring Transactions

The users/customers are known to TiMarkets not only through the verification of their identity but also through the analysis of their transactional history and patterns. This is why TiMarkets will rely on data analysis as a tool for risk-assessment and suspicion detection. TiMarkets will perform a variety of compliance-related tasks, that include but are not restricted to the capturing of data, record-keeping, filtering, reporting, and investigation management.

Moreover, it will check the users/customers on a daily basis against recognized blacklists that are periodically updated by the relevant law enforcement agencies. TiMarkets may if it deems necessary, place users/customers on watch and service denial lists. It also has the legal right to open cases for investigation as and when required. Additionally, it will also fill out all statutory reports, as and when required.

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