Here you can specify the “Required Document Templates” per account type offered. These required documents will automatically be set as required based on the customer’s account type and forms part of the KYC section of this module.
Select a template or simply click on the add a document from the list of standard industry documents.
Documents added here will also display in the customer’s compliance profile’s document section. Documents templates provided by Megaflex are:
Proof of Address
Credit Card Statement
Credit Card Copy (Front & Back)
Power of Attorney
Source of Funds
certificate of incorporation
Article of association
certificate of good standing (where available) of the legal person
certificate of registered office
certificate of directors and secretary
certificate of registered shareholders
memorandum and articles of association of the legal person
Board resolution for the decision to open an account and the account operator nominated.
This setting allows up to maximum amount customers are allowed to deposit without compliance approval.
Once selected, you will be prompted to insert the max combined deposit amount without the customer being approved by compliance.
Once the limitation has been surpassed, the customer will not be able to make any additional deposits until such a time that compliance has approved the customer’s account.
Allow Parked Deposits
This setting will allow parked deposits. Parked deposits is a smart feature that helps the company work according to legislation which says you are not allowed to perform business relationship without compliance.
If selected, it simply collects the client payment details and waits for him to finish compliance before it sends it to the payment service provider.
Once compliance is approved a window will popup on the compliance screen asking to approve funding of the account- this can only happen when the customer’s compliance status has been marked as Approved.
If a customer has a parked deposit, it will be shown as an alert on the top of the profile section of the customer’s profile. If a client inserted a second and a third deposit prior to the approval it will be added to the amount and will display several popups one after the other respectively.
If a customer has a parked deposit, it will be shown as an alert on the top of the profile section of the customer’s profile as well as on the Crossings Profile Deposit Method’s Widget.
The compliance module allows connections via APIs to external DB checks. The list of providers are constantly being updated with new integrations. Selecting this option, allows external database checks as part of ongoing AML and KYC requirements.
Once selected, you will be prompted to select your provider from the list provided, then to provide your username and password (of the third-party provider) to connect.
Other functions include;
removing a connected provider
adding additional providers
requesting that a provider be integrated / added if not already on the list of integrated providers.
Once connected you will have the ability to run an external DB check directly from a client’s profile on the customer’s Compliance profile screen.
Refer to the Compliance Profile Compliance alerts section.
To remove or deactivate a connected provider
Delete a connected database by clicking the close icon on the external DB settings on Crossings settings. This will disconnect the API and in future will require logging in from scratch.
To disable a connected provider, simply slide the active slider on the Crossings settings to off.
Show PEP, SIP, RCA and US Citizen alert
If Enable EDD has been set up in the step above, this option will not be available as alerts will automatically be generated by the EDD functionality.
If EDD is not selected, you will be able to set alerts for:
PEP – Politically Exposed Person
SIP – Special Interest Person
RCA – Relatives and Close Associates
US Citizen Alert
Alerts will be displayed on the customer’s compliance profile when either the customer has been flagged as a PEP, SIP, US or RCA.
The Origin of these alerts are either provided from the AML DB query or manually inserted by the client on the registration form or manually set in the compliance module by the compliance officer.
This notification is internal only and will show on the designated monitoring of transaction screen, only after which you are able to use the filter function on the compliance lead table to display all customers that are either PEP, SIP or RCA.
Once a client was spotted the main profile page will turn its color and a red stripe alert will show.
Create lists of countries that will automatically be blocked from using your company’s services or from certain actions.
When a block is activated it will automatically be excluded from the valid list of leads and will be put on the excluded list, even if the lead was uploaded to the system
Will remove the countries from the registration form (if client is using our registration form)
Manually select countries
Once selected, you can choose the countries you wish to block by clicking on the country from the popup. Once the country changes blue it has been selected. To unselect, simply click on the country again.
Once you have selected the countries you want, simply click the ADD button and it will be applied.
To quickly remove a country you have added, simply click the “close” icon next to the name on the settings page.
As required by some regulatory bodies, a telephone call by compliance must be placed in order to verify the customer’s details.
Once activated, a customer will be unable to be approved until a call has been placed and confirmed in the “Compliance Call” widget on the customer’s compliance profile page.
If a compliance call has not been made, and a compliance or back office user tries to approve or change the compliance status to “Approved”, a system notice will be generated reminding the agent that the compliance has yet to be made.
Making a Compliance Call
To make a compliance call, click on any of the telephone numbers listed on “Compliance Call” widget on the customer’s compliance profile page. The widget will change into a dialer.
After a call has been made, a slider will become available on the widget where the agent can active to confirm that the compliance call has been made. Even if the agent closes the browser and comes back at another point in time, the slider will still be available to be marked as compliance call completed.
Records of all compliance calls will be stored in the customer profile under telephone recordings, customer logs and listed as an feed event. See the customer profile documentations for more details.
Skip Compliance Call / Mark as complete
If “Compliance officer can skip Compliance call” has been activated, then a tick box will appear in the compliance call section on the customer’s compliance profile page where a Compliance Officer (user) can tick to bypass this function entirely.
This can also be used to mark the compliance call as complete.
Account on read only by default
This setting controls whether the client’s Account will be automatically set to “Read Only” on his trading account until compliance changes the customer’s “Compliance Status” to “Approved”.
Once activated, the customer will only be able to login to the trading account but not be able to operate the account.
This setting is integrated directly into your trading platform using the MT4 API and will automatically update on an ongoing basis. Refer to the Compliance Status Settings section. This function will be used also to restrict clients from trading due to other compliance reasons using the compliance dashboard.
These settings are used to setup a regulated entity or profile that will be used throughout the CRM. This is linked to a particular brand. When you are logged into a brand, the settings here will be linked to this brand only.
Please note the information provided here will only be used / viewable internally and within the Crossings module or on regulatory reports that are manually or automatically generated on an ongoing basis.
On the basic settings, you will need to:
Enter the legal entity name as required when making regulatory reporting
Select the entity’s regulatory authority – if applicable, if no regulation, selected unregulated.
Herein you will find all the settings & preferences to manage the Crossing’s Module. Each category has sub-settings that will lead you through the process of setting up parameters to manage your brokerage’s compliance operations moving forward.
The settings screen is split up into the following categories and sub settings thereof;
Legal company name
Select a regulatory body
Insert your license number
Compliance call for final approval
Account on read only by default
Select a template or manually add countries to “Blocked Countries List”
Enable AML external DB check
Show PEP, SIP and RCA and US citizen alerts
Allow deposits without compliance approval
Allow Parked deposits
Credit card deposit limits
Create templates of required documents for account types
Create or rename compliance statuses
All settings are either a slider, option or a tick box. When selected, most will prompt you with a popup whereby you can modify the settings of the particular setting you selected.