OANDA Japan Issues Notice on Pseudonymous Transactions

OANDA Japan warns traders against pseudonymous transactions, emphasizing compliance, identity verification, and strict measures for violations.

Key Points:

• OANDA Japan prohibits pseudonymous and borrowed name transactions to prevent tax evasion and money laundering.
• The broker enforces identity verification and may suspend or terminate accounts involved in unauthorized transactions.

OANDA Japan Inc., a subsidiary of the global online broker OANDA Corporation, has issued a notice to traders regarding pseudonymous transactions, reinforcing its commitment to compliance with financial regulations and anti-money laundering measures.

OANDA Japan Issues Notice on Pseudonymous Transactions

Pseudonymous transactions refer to financial activities conducted under the name of a non-existent person or another individual. More specifically, transactions carried out using another person’s name—such as that of a family member, friend, or third party—are known as “borrowed name transactions,” which fall under the category of pseudonymous transactions.

Laws and regulations strictly prohibit these types of transactions, as they create opportunities for illicit activities such as tax evasion and money laundering. To ensure regulatory compliance and financial integrity, OANDA Japan has reiterated its stance that all traders must open accounts and conduct transactions under their name, using their funds and acting of their own volition.

To prevent pseudonymous and borrowed name transactions, the company will conduct rigorous identity verification processes in accordance with applicable laws and regulations when customers open new accounts. Additionally, the company may take further steps to confirm whether the registered account holder is the actual party conducting transactions, as well as making deposits and withdrawals.

Also, if OANDA Japan determines that someone other than the registered customer is using an account, it will suspend trading activities, restrict deposits and withdrawals, and may terminate the account according to the terms and conditions of service.

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