Freemarket’s risk appetite is the aggregate level of risk that it is willing to assume within its risk capacity and in line with the business model, culture and ethics. Freemarket takes an appropriate risk-based approach to achieve its strategic and commercial objectives. The aim of this document is to provide guidelines on what types of business and associated risks the company would find acceptable and unacceptable.
Within the overall risk framework, Freemarket has robust systems and controls that are proportionate to the nature and scale of the business, and which continually evolve to mitigate financial crime. With these systems and controls, Freemarket aims to Deter, Detect and Disrupt financial crime. Maintaining these and treating customers fairly, is at the heart of Freemarket and such standards are expected from all stakeholders. Freemarket has stringent procedures regarding the governance of its risk framework and strict policies in relation to PEP’s, illegal activity, sanctioned counterparties, criminals, and individuals associated with terrorism. In recognition of the scale and extent of the business’s systems and policies, Freemarket prohibits payments from the following activities:
(1) Freemarket will consider the UK and or EEA licenced forex & CFD brokers that have entities within their group licenced offshore.
(3) Shell companies that are not part of an overall onshore group structure.
(4) Freemarket will consider licenced gambling companies that have entities within their group licenced onshore.
(5) Acquirer flow from Adult content will be considered on a case-by-case, exception basis.
(6) E.g. Freemarket client (a regulated PSP) is facilitating payments for their client’s (PSP) clients i.e., its underlying customers.
(7) Freemarket will consider EMI/PI Agents or a small EMI/PI in the same group of the principal EMI/PI, Acquirer, operational and/or principle to principal flow.
(8) Including Virtual Asset service providers (VASPs) as defined within FATF recommendations.
(9) Freemarket does not engage with clients incorporated in jurisdictions under increased monitoring by FATF