AML & KYC POLICY
How MyPropCapital keeps the service away from money laundering, fraud and sanctioned people, and what that means for you.
Why we have this policy
MyPropCapital takes payments and pays rewards, so it has to make sure that neither is used to move illicit money, to evade sanctions or to defraud anyone. This policy sets out how we do that. It applies to every trader, creator and affiliate, and our director is responsible for it.
We are not a bank, broker or other regulated financial institution, and we do not hold client money. We follow this policy because it is the right way to run a business that handles payments, and because Hong Kong law requires everyone to report suspected money laundering.
Who can use the service
Only individuals aged 18 or over, acting for themselves, under one identity each. Companies, accounts opened for someone else and shared accounts are not allowed.
The service is closed to anyone resident in or connecting from: Hong Kong, Cuba, Iran, North Korea, Syria, Russia, Belarus, Myanmar, the Crimea, Donetsk and Luhansk regions of Ukraine; to any jurisdiction on the Financial Action Task Force's list of high-risk jurisdictions subject to a call for action; and to anyone on a UN, Hong Kong, EU, UK or US sanctions list. We block sign-ups and purchases from restricted locations, and using a VPN or false information to get around this closes the account.
Knowing who our traders are
When you sign up we record your email, your wallet and the country you connect from. We can ask you to verify your identity at any time, and we can require it before a funded account's first reward.
A verification can include a government-issued photo ID, a live selfie with a liveness test and a proof of address, and is done through Didit, a specialist verification provider; your documents and selfie go to Didit, and we keep only the result. The name on your account must match your ID, and we may check you against sanctions and other public lists, then and later.
If you do not complete a check, or it shows you are not eligible, we hold rewards until it is resolved and close the account if you are not eligible.
Payments in, rewards out
Fees may only be paid from a card, account or wallet in your own name. Payments from a third party are refused.
Rewards are paid only to the wallet the funded account is registered to, which is the wallet linked to your account when it opened. They are never paid to a third party, and a reward cannot be redirected by anyone, including us.
We do not accept cash, and we do not accept deposits or hold money for trading.
Monitoring
We watch for signs of abuse and financial crime, including multiple accounts behind one person, device or address, patterns of purchases and refunds that do not make sense, chargebacks, accounts traded by someone other than their owner, and attempts to reach the service from restricted locations.
When we see something, we may ask questions, ask for verification, hold rewards, refuse orders, or close accounts.
Reporting and records
Where we know or suspect that money is the proceeds of crime or connected to terrorism, we report it to Hong Kong's Joint Financial Intelligence Unit (JFIU), as Hong Kong law requires, and to other authorities where the law requires it. The law does not allow us to tell the person concerned that a report has been made.
We keep payment, reward and verification records for at least seven years.
Questions
Questions about this policy: team@mypropcapital.com.