Your offering is up and running, you are getting investments from Vermont to Washington, Hawaii and Puerto Rico but all of a sudden you have a handful of investors from Newfoundland Canada and your marketing efforts have been globally noticed and brought you investors from Hungary. What now? How do you ensure your investors are not criminals looking to park illicitly gained money in your offering?
FundAmerica makes accepting money from international investors as easy as receiving a wire. We take on the burden of verifying whether or not the investors are involved in any criminal activity.
Once your investor has put their vesting information into the “Invest now” system and signed the subscription agreement, our system runs an AML screening on the investor immediately searching for a match on a number of different databases including OFAC, United Nations SDN list, FBI, Interpol watch lists and Her Majesty’s Royal Treasury databases to list a few.
At this point you must be asking yourself what is AML? Why do I have to get it performed on my investors? What does it entail?
Anti-money laundering is a set of procedures, laws and regulations created to hinder the generation of income from practices considered to be illegal. Money launders attempt to hide their illegally earned funds by moving them through a series of transactions to make the money seem like it was earned legally. AML laws cover a relatively limited number of transactions but their implications are very far reaching. The AML procedures we follow ensure our services are not aiding money-laundering of funds into your offerings.
To complete the AML search on investors from international countries, their passport, national id and proof of address is required. These documents help establish that your investor is who they say they are and that they can prove their identity with documentary evidence. The passport must be valid i.e. not expired or it will fail the necessary verification protocols.
Once an investor meets these requirements and passes screening, the money invested is accepted into escrow pending the break of escrow on a mini – maxi offering or close of escrow after a successful raise.
AML protocols help making the acceptance of international money safe and easy. With a few requests for documentary evidence we can help ensure your offering has accepted investors that pose little reputational risk to you and your business because we have done our diligence and made sure they have no relationships tied to money laundering or terrorist financing.