Otto Trade
IT·EN
Open account
Legal documents

AML & Counter-Terrorism Financing Policy

How we prevent money laundering and financial crime.

Otto Trade is committed to preventing money laundering, terrorist financing, and other financial crimes. We comply with EU AML directives (4MLD, 5MLD, 6MLD) and FATF recommendations.

1. Customer Due Diligence (CDD)

Before opening an account, every client must provide:

  • Valid government-issued photo ID (passport, ID card, or driver's license)
  • Proof of residential address dated within 3 months (utility bill, bank statement)
  • Selfie holding the ID
  • Source of funds declaration for deposits above €15,000

2. Enhanced Due Diligence (EDD)

Required for: politically exposed persons (PEPs), high-risk jurisdictions, large or unusual transactions. Additional documentation may include proof of source of wealth, employment records, or tax returns.

3. Restricted jurisdictions

We do not accept clients from: United States, Iran, North Korea, Syria, Cuba, Crimea, or any country/individual on EU/UN/OFAC sanctions lists.

4. Transaction monitoring

All deposits and withdrawals are screened for unusual patterns. Red flags include:

  • Deposits inconsistent with declared income
  • Same-day deposit + withdrawal with no trading activity
  • Multiple small deposits to avoid reporting thresholds (smurfing)
  • Withdrawals to third-party accounts
  • Crypto deposits from mixers, tumblers, or sanctioned addresses

5. Reporting

We report suspicious transactions to the relevant Financial Intelligence Unit (FIU) without notifying the client. We may freeze accounts pending investigation.

6. Same-source rule

Withdrawals must be made to the same account/wallet used for the deposit, where technically possible. This prevents using us as a money transmission service.

7. Record keeping

All KYC documents, transaction records, and account history are kept for 7 years after account closure, per regulatory requirements.

8. Staff training

Our compliance team receives annual AML training. We have a designated Money Laundering Reporting Officer (MLRO).

9. Reporting suspicious activity

If you suspect financial crime, email compliance@8-trade.com.