Safeguarding Funds

Your money and data are protected

Security is central to everything we do. We work with leading infrastructure providers to deliver competitive pricing and robust safeguards for your funds and information.

When funds are credited to your account, electronic money (e-money) is issued in exchange by an authorised Electronic Money Institution with whom we partner, namely Currencycloud. In accordance with applicable regulatory requirements, Currencycloud safeguards your funds. This means that the monetary value behind your account balance is held at a reputable financial institution and is protected in the event of insolvency of either Currencycloud or ourselves.Currencycloud ceases safeguarding your funds once the money has been successfully transferred from your account to the intended beneficiary’s account.

Our Model

Forex Transfers uses The Currency Cloud for technology, operations and compliance. Conversions and payments are provided by our FCA-regulated payment service provider, The Currency Cloud.

Client funds are safeguarded by our FCA-regulated e-money partner at a credit institution, so your money remains protected at all times.

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Safeguarding

Client funds are safeguarded by our FCA-regulated e-money partners at a credit institution. Safeguarding is performed in line with e-money regulations so funds are kept separate from operational money.

Platform Security

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    Physical security

Services run on Amazon Web Services, which holds globally recognised certifications for data centre security.

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    Certifications

ISO/IEC 27001 information security, ISO 27018 personal data protection, PCI-DSS Level 1, and SOC 1, SOC 2 and SOC 3 attestations.

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    Network security

Protection against DDoS and man-in-the-middle attacks, reputable registrars to protect against domain hijacking and phishing, and regular penetration testing to address common vulnerabilities like code injection and cross-site scripting.

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    Encryption

All network traffic is encrypted in transit, confidential data is encrypted at rest, and encryption keys are handled with best-practice controls.

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    Access control

Role-based permissions with two-step and multi-factor authentication for sensitive systems, with logging, monitoring and audit in place.

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    Data protection

Our platform and operations align with UK DPA and GDPR requirements.

Regulation and Scale

The Currency Cloud is authorised by the Financial Conduct Authority in the UK under the Electronic Money Regulations 2011 and by De Nederlandsche Bank in the Netherlands. The platform processes significant global volumes and, in December 2021, was acquired by Visa Inc, reinforcing long-term stability and capability.

Long-term Partnership

Forex Transfers and The Currency Cloud work together to provide a secure, specialist foreign exchange and international payments service supported by robust technology and governance.

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