Identity Verification - Mandatory
Know Your Customers (KYC) Requirement Under the Prevention of Money Laundering Act, 2002
To Our Clients and Potential Clients
In accordance with Section 326 of the USA Patriot Act of 2002, which requires TCT The Commodity Traders B.V., to help the government fight the funding of terrorism and money laundering activities, The Commodity Traders is required to obtain basic identifying information from you and verify that information when you open a new account.
This means the TCT staff will ask you for some basic information to help us identify you. The Commodity Traders staff will also ask to see documents identifying you such as a social security card, driver’s license, passport, and/or some other government-issued document.
In some cases, identification will be requested for those individuals conducting business with The Commodity Traders prior to the effective date of the member identification requirements. This is because original documentation was not obtained with the opening of the account or The Commodity Traders is unable to form a reasonable belief that it knows the true identity of the existing account holder.
In all cases, protection of our member’s identity and confidentiality is the TCT’s pledge to you. We appreciate your patience and understanding as we all do our part in complying with the new account identification procedures required by the federal USA Patriot Act of 2001.
Prior to assigning any new client account, we must perform our due diligence in connection with TCT The Commodity Trader’s "Know Your Customer Procedures".
The Board of Directors, Staff, and Members of TCT The Commodity Traders, B.V.
USA Patriot Act [Section 326]
Pursuant to the USA Patriot Act, Section 326, The Commodity Traders are required to verify the identity of individuals applying for membership and opening new accounts or services with TCT.
Additional data may also be gathered depending on the type of account to be opened. Data on existing members may be gathered as an additional product or service is requested.
The USA Patriot Act also requires The Commodity Traders to maintain all records of any documentary evidence used for verifying the member for at least five years after the date an account is closed.
Confidentiality of the information maintained by the TCT will be maintained as required under our Privacy & Security policy.
To obtain a copy of the USA Patriot Act in its entirety please visit: https://www.fincen.gov/resources/statutes-regulations/usa-patriot-act
NOTE: To approach any of the official points of acceptance of transactions, a KYC form must be completed.
For your convenience, we have attached the KYC Application form. We request you to fill in the details and provide the certified copy of supporting documents as stated in the Form.
Please feel free to call us or email us at compliance [at] thecommoditytraders [dot] com for any query on KYC requirements.