Protecting you is our top priority
eToro’s AML policy actively prevents criminal activities on our platform, and in cooperation with existing laws and regulations, helps ensure that any suspicious financial activity is promptly investigated.
What is Anti-Money Laundering (AML)?
With financial crime on the rise, it is more important than ever for financial firms such as eToro to implement strict protocols to safeguard our clients and support governmental efforts against illegal activities.
AML laws and regulations target criminal activities, including market manipulation, trade in illegal goods, human trafficking, corruption of public funds, and tax evasion, as well as the methods used to conceal these crimes and the money derived from them.
It is the responsibility of every financial firm to be on guard, and this is a responsibility that eToro takes very seriously.
eToro’s Anti-Money Laundering (AML) policy
Regulatory Compliance
eToro fully cooperates with all relevant authorities to thoroughly uphold international laws.
Client Verification (KYC)
The Know Your Client process authenticates user identity during the opening of accounts to prevent fraud and other crimes
Customer Due Diligence (CDD)
eToro is required by law to obtain documented information from clients to verify the origin of funds and to keep such information updated.
Why is an AML policy important?
To protect our clients. We are proud of our global reputation as a reliable and regulated company, worthy of millions of registered users. We will have no tolerance for any willful illegal activity on the eToro platform which could jeopardise our reputation or your trust in us.
To do our part. eToro is socially responsible, respects international law and works in collaboration and cooperation with the relevant authorities. We are transparent with both our users and the regulatory entities in our efforts to prevent financial crimes.
To ensure our technology is used for good. Technological progress is a wonderful thing, and improves human life tremendously. However, criminals also seek to use these developments for their illegal gain. We take the necessary steps to safeguard our platform from misuse.
AML is for your protection
Anti-Money Laundering policies and procedures are created to help stop money laundering, terrorist financing, trade in illegal goods, tax evasion, and other financial crimes by preventing criminals from engaging in transactions that conceal the origins of funds used for illegal purposes. These policies exist for your protection. By investigating suspicious activities and reporting them to the authorities, eToro can help alert law enforcement to possible criminal activities.
How you can help
If you ever suspect unauthorised activity on your account, please contact us immediately. More information on how to keep your account secure can be found here.
Occasionally, we are required to review user accounts and request additional information and documentation from our clients, as outlined in the company’s Terms and Conditions. If you receive such a request from us, please understand that we require this information to help safeguard your account and continue to provide our services to you. This does not mean you have done something wrong, but helps us to gain clarity using the information required. This occasionally can take some time to clarify, but prompt communication and supply of documents can help in speeding this up.
Documents required for AML verification may include,
but are not limited to, the following:
Bank statement
Please ensure that the image of your bank statement is similar to the image shown below. Identifying information must be clearly visible, with all four corners of the document in view.
Credit/debit card statement
Please ensure that the image of your credit or debit card statement is similar to the image shown below. Identifying information must be clearly visible, with all four corners of the document in view.
Selling purchase agreement
Please ensure that the image of your selling purchase agreement is similar to the image shown below. Identifying information must be clearly visible, with all four corners of the document in view.
A joint effort
With the risks of corruption on an international scale ever more widespread, AML practices are more essential than ever. Financial institutions play a critical role in preventing these crimes, and, here at eToro, we are committed to doing our part. We invite our community of investors to join us in these efforts, to make a difference together.