Certified Gold Exchange, Inc. Corporate Anti-Money Laundering Policy
Updated and revised August 28, 2018
Thank you for reading the Certified Gold Exchange, Inc., (CGE) Anti-Money Laundering (AML) policy.
Money laundering refers to act(s) of disguising, concealing, camouflaging or hiding financial proceeds for the purpose of purposely misrepresenting the source of said funds. Included in the act of money laundering is terrorist financing, in which the act of concealment of monies provides funds for terrorism activities through financial institutions.
In recent years, combinations of criminal skills and techniques have increased, varied and adapted, and responsible gold dealers have taken into consideration the importance of the measures against financing of terrorism based on the international community’s backing of ending terrorist threats, be they physical or financial. Hereby we state this official CGE anti-money laundering support policy in order to pledge our dedication to ensuring funds are not channeled for criminal activities.
If the growing and disturbing trend of money laundering continues business owners and consumers alike will be condoning the thieves’ desires to commit future crimes. Furthermore, in addition to an increased level of organized crime in the financial sector it could become common for criminal organizations to exert an influence over legitimate economic activities on both local and national scales.
We and all responsible businesses must immediately take all necessary precautions to cease the flow of funds for terrorism and terrorist activities as if it is left unchecked it will continue to grow from a nuisance to a devastating threat to the international community.
Consequently, the crucial countermeasure against money laundering and financing of terrorism is for financial institutions to cooperate with one another. That said, all CGE representatives from contractor interns to the CEO must make every possible effort to prevent money laundering as well as its causes and consequences.
CGE adheres completely to all local, state and national laws regarding anti-money laundering policies. The full and official statement of Certified Gold Exchange, Inc., regarding money laundering and the CGE Anti-Money Laundering policy can be found below.
We have listed references to Internal Revenue Service (IRS) and Financial Crimes Enforcement Network (FINCEN) policies, guidelines, policies, regulations and laws to all of which we adhere as a company and as individual members of the CGE staff or contractors.
*Our entire staff/Contractors undergoes initial and regular training to recognize potentially suspicious signals based on professional inquiries and all staff are trained to report such incidents immediately. Additionally all staff or contract workers are required to read the following IRS 9.5.5 Money laundering and currency crimes document in full. http://www.irs.gov/irm/part9/irm_09-005-005-cont01.html
*CGE does not accept cash nor do we liquidate in cash. In fact since 1992 CGE has never had a cash transaction and this covers all purchases and liquidations. We only accept personal checks and company checks pursuant to transactions, as well as bank wire transfers originated in the United States.
*We (CGE) do not accept foreign checks (checks from banks outside the United States), foreign funds via wire or foreign funds whatsoever. We have solely focused our attention on the US market.
*All clients who sell bullion and rare coins to us will receive payment via bank wire or our company check only.
*We (CGE) does not allow anyone to click and buy from us. In fact we conduct a phone interview with every client before they are allowed to purchase. We (CGE) also reserve the right to refuse doing business with a prospect for any reason we deem valid.
*The vast majority of our business has always been generated through the US retirement system accounts like IRA transfers or 401k rollovers. These are accounts tracked annually by the IRS and controlled by a custodian that have strict rules governing the creation and maintenance of such accounts and are generally not traditional money laundering hotspots but diligence is still required.
*Because CGE engages in transactions using exclusively the aforementioned financial instruments and does not deal with any other form(s) of digital and tangible currencies and therefore we are not a good target for tax cheats and or money launderers.
*CGE transactions are executed only after the prospect’s identification has been verified by a US-based financial payment via US-originated personal check, business check or bank wire, for security purposes.
*As a further security measure all calls may be monitored and recorded for compliance and training purposes.
*CGE will also not accept payments/financial instruments that originated outside the US.
*CGE ownership/management takes steps to identify and report suspicious activity to the proper authorities. All CGE staff members and sales contractors are trained in recognizing, handling and submitting suspicious behavior to management and the proper and relevant authorities without delay. Our reporting system is monitored and improved on a regular basis to improve to the highest quality standard.
*At CGE we offer 100% access to our records to all Money Service Business (MSB) that we deal with. Our banks, the IRA custodians and all the Money Service Business that we deal with or have dealt with over our many years in business can contact us at any time and request any document at any time. Additionally we can do a conference call with any client at any time to provide complete transparency on any client dealings.
IRS – http://www.irs.gov/irm/part9/irm_09-005-005-cont01.html
FinCEN – https://www.fincen.gov/
If you suspect someone of money laundering or currency crimes please use form 3949-A to notify the IRS or visit the link below.
Further information regarding the money laundering prevention practices of the Certified Gold Exchange, Inc. may be requested via the Contact Us page of www.certifiedgoldexchange.com or by calling (800) 300-0715, Monday-Friday 9am-6pm CST or by contacting the owner at his personal email address johnjhalloran [@] gmail dot com after normal operating hours or holidays.