Security of Personal Information and Funds

Foremost takes client confidentiality and the security of client funds extremely seriously; the following is an overview of some of the measures in place to ensure that your information is protected.

We use SSL technology to encrypt transmission of all data to and from the Online platform. This means that if the transmission is intercepted by an unauthorised person, it will contain no understandable information.

We operate multiple foreign currency accounts as well as Sterling. These accounts are designed to receive inward payments and are maintained at our principle bankers, Barclays Bank PLC. All banks and brokers with which FCG transacts business are regulated by the supreme industry watchdog, The Financial Services Authority (FSA) and / or the Bank of England.

All our accounts are fully audited by our Chartered Accountants and Registered Auditors. We are fully compliant with HM Customs & Excise Anti-Money Laundering Procedures and our registration number is 12219945. We are members of the UK Money Transmitters Association, the trade association for money transfer companies in the UK. The key objectives of the Association include the following:

• To establish and promote shared high standards across the money transfer industry and to establish an industry wide quality mark
• To establish and promote "best practice" models in connection with issues such as effective customer ID checks, training systems and procedures, suspicious transaction reporting, record keeping, audit trails, etc.
• To provide training, information and support to money transmitters to help them comply with the regulations
• To engage in dialogue with the regulator to ensure that the 2003 Money Laundering regulations are fairly and consistently applied
• To establish an effective dialogue with the banks to ensure that they behave reasonably in their relations with money transmitters
• To be the voice of the industry with national and international government

We follow the UKMTA Remittances Customer Charter. More importantly, we do not invest in the markets with Client Funds; we buy out what is known as Back-to-Back positions on an execution only basis. When dealing with the onward transfer of your payment, transactions are individually authorised by a senior manager to ensure that the transaction has been executed correctly and in accordance with client instructions. This process involves stringent cross-referencing. Once the Payment Manager has approved payment on a transaction it is given directly to the Head of Operations who oversees and has final authority to action the payment through the use of a confidential coding system with the clearing bank.