iForex allowed to continue Forex Trading

iForex, a FX and derivatives broker, had a recent battle against Hungarian authorities. The Hungarian Financial Services Authority had suspended the broker for six months and issued a hefty fine.

After a comprehensive investigation the regulator found violations in;

• Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term legislation,
• and customer protection,

The Budapest Metropolitan Court decided to annul the decision of the Hungarian Financial Supervisory Authority (HFSA) of July 7, 2011 by which HFSA suspended the license of iForex. The fine imposed by the HFSA on iFOREX was also canceled by the court. iFOREX will now continue to operate as per normal.

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