1. Regulatory Framework
OFinancial complies with the Mauritius Financial Intelligence and Anti-Money Laundering Act 2002, the Mauritius Code of Anti-Money Laundering (Amendment) Regulations 2021, and the recommendations of the Financial Action Task Force (FATF).
2. Know Your Customer (KYC)
Before any account becomes fully active, clients must complete identity verification. We collect: a valid government-issued photo identity document, a recent proof of address (utility bill or bank statement no older than 3 months), and a selfie or live liveness check.
Enhanced due diligence may be required for politically exposed persons, high-risk jurisdictions, or larger deposit amounts.
3. Source of Funds
Where required, clients may be asked to provide documentary evidence of the source of funds (e.g. salary payslip, business income statement, sale of property). Failure to provide satisfactory evidence may result in deposit refusal or account closure.
4. Transaction Monitoring
All deposits, withdrawals and trading activity are monitored on an ongoing basis using both automated and manual review systems. Activity inconsistent with the stated profile of the client may trigger a review.
5. Same-Channel Withdrawal Policy
In line with AML regulations, withdrawals are returned to the same channel and account from which the deposit originated, up to the original deposit amount. This prevents the use of OFinancial as a fund-transfer mechanism between unrelated parties.
6. Sanctions & Restricted Jurisdictions
OFinancial does not accept clients from countries listed on OFAC sanctions lists or other applicable sanctions regimes, including the United States, Iraq, Myanmar and North Korea.
7. Reporting Obligations
Suspicious activity is reported to the relevant Financial Intelligence Unit in line with our regulatory obligations. We may be legally prohibited from disclosing the existence of such reports to the client concerned.
8. Record Keeping
Client identification records and transaction records are retained for a minimum of 7 years after account closure in compliance with applicable AML legislation.
9. Staff Training
All client-facing and operations staff receive AML training upon onboarding and annual refresher courses. Compliance staff hold relevant professional qualifications.
10. Contact
AML-related queries should be sent to compliance@ofinancial.markets.
