Knowing our customer has always been a primary practice at CALFOREX, be it to establish the relationships our business was built upon, to provide better customer service as we introduce new products and services or to conduct our due diligence requirements. A full understanding of our clients and their needs will ensure CALFOREX remains a leader in the Currency Services industry.

A basic tenet of our compliance regime is client identification which means CALFOREX may need to collect both, personal customer and business information in order to comply with Canadian law and AML legislation.

Client identification is an ongoing, risk‐based process to gather relevant information about our customers and their business and financial activities. We will only ask for information that we need for the purposes set out in our CALFOREX Privacy policy. For additional information on the confidentiality of your personal information please review our Privacy Policy.

Identification will be requested for all retail transactions, each and every transaction as per mandated guideline at the activity thresholds of $1000, $3000 and $10000. CALFOREX reserves the right to request identification and alternative forms of identification at any time, should our trained staff determine the need to do so.

CALFOREX has established application forms to collect all necessary information on prospective clients which are reviewed once fully completed (with all supporting documents attached) by respective department managers and our compliance officer. Information collected includes business details, beneficial owners details, directors and persons authorized to transact on behalf of said business. Supplementary information include copies of identifications, incorporation documents, share structures, etc.

Information collected is verified within acceptable time frames using acceptable identification methods. Inquiries will also be made using risk intelligence software, World-Check, to screen all potential client names against international sanctions lists, designated persons, known terrorists list and politically exposed persons.

We will perform additional verification activities for relationships that represent a higher level of risk.

Accounts will only be opened for prospective clients upon compliance approval. Periodic review of all accounts is conducted based upon the results of our risk assessment and clients may be contacted at that time to ensure CALFOREX has the most up to date and accurate information on file. Any accounts determined to fall outside the realm of mitigateable risk may require enhanced due diligence and may not receive account approval.

For additional information on the compliance policies in opening an account with CALFOREX or any general client identification practices at CALFOREX, please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

CALFOREX reserves the right to amend our compliance policies at any time, in response to changes to mandated legislation or to company practices.