Topic: Foreign Exchange

International money transfer service declines to provide services to a business because its policy is to only accept transactions from and to an individual.

A company asks for identification requirements in excess of the requirements under the AMLCFT legislation. Mark complains the requirements are too arduous and asks for FSCL to investigate.

Samantha uses a money transfer service to transfer $15,600 into a Ghanaian bank account. The funds are intercepted as a ‘suspicious transaction’ and not released to the beneficiary in Ghana.

Yves opened an account with World Wide Forex, an online foreign exchange trading platform, and deposited US$34,000 into the account.

FSCL investigated a legally and factually complex complaint about a bug in the software update of a forex broker’s trading platform