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Anti-Money Laundering and Counter-Terrorist Financing Policy of GlobalNetint, UAB

 

GlobalNetint,  UAB  (hereinafter  referred  to  as  “GNI”)  is  committed  to combat money laundering and terrorist financing and ensure that products and services products enlisted at the GNI are not misused for the purpose of money laundering, terrorism financing and other fraud events. It is also prohibited to provide any product or service or proceed any transaction for the benefit of individual or entity included in the international sanctions lists. As such, the adherence with applicable laws and regulations in relation to  prevention  of  money  laundering  and  terrorist  financing  (hereinafter referred to as “AML”) is mandatory and fundamental to GNI’s strategy and program.

GNI  has  strict  and  transparent  standards  and  continuously  strengthens GNI’s processes so as to ensure compliance with applicable AML laws and regulations.

GNI reserves the right to reject any customer, payment or business that is not consistent with the GNI AML policy subject to the requirements of the applicable AML laws and regulations.

Adherence to Applicable AML Laws and Regulations

In accordance with AML regulations, the customer is required to provide GNI an accurate and complete information and documentation that assists in determining customer’s identity and verifying the customer, as well as information  on  payers  and  payees  of  each  monetary  operation  and transaction processed through the customer’s account in the Company. The customer may be required to provide to the GNI additional information or document regarding the customer, respective monetary operation or other transaction, or counterparty of such transaction.

Monitoring for Suspicious Activity

GNI’s AML policy includes customer’s and beneficial owner’s due diligence and ongoing AML monitoring and AML reporting policies. At various points in time, GNI may request information regarding the transactions carried out through the customer’s account opened at GNI and the parties of the respective payment. If the customer may not respond sufficiently or within a  timely  manner,  GNI  also  reserves  the  right  to  reject  any  respective payments  subject  to  the  requirements  of  the  applicable  AML  laws  and regulations.

Prohibitions

GNI  has  no  AML  risk  appetite  for  customers  who  engage  in  any  of  the following:

  • intentional or wilfully negligent breaches of law, regulation or policy applicable to money laundering and terrorist financing risk;
  • repeated unintentional or repeated accidental breaches of AML laws;
  • misusing the  account  for  the  purpose  of  money  laundering  or terrorism financing;
  • misusing the account for the purpose of other fraud;
  • facilitating business  activities  which  could  be  construed  as  a  tax offence;
  • refusing to  provide  sufficient  information  or  documentation  to demonstrate  compliance  with  the  standards  outlined  in  GNI  AML

policy.

GNI intends to conduct business only with reputable customers who use their own products, services, and related accounts for legitimate purposes, and whose identities can be determined and verified. Please note that GNI may suspend or terminate business relationship with the customer subject to the requirements of applicable AML laws and regulations.

Sanctions

GNI has no AML Risk Appetite for establishing or maintaining a customer or  a  counterparty  relationship  with  a  natural  person  or  legal  entity designated  on  any  of  the  below  lists  or  where  otherwise  prohibited  by applicable law or regulation.

GNI  also  has  no  appetite  to  execute  transactions  relating  to  any  such natural person or legal entity being included in:

  • the United Nations Security Council Sanctions List (UN);
  • the Consolidated List of European Union Financial Sanctions (EU);
  • sanction lists  administered  by  the  United  States  Office  of  Foreign Assets  Control  (OFAC),  including  the  List  of  Specially  Designated Nationals and Blocked Persons;
  • any other sanctions list.

In addition, GNI pays particular attention to entities from countries which are on the list of non-cooperative countries and territories drawn up by the Financial  Action  Task  Force  (FATF)  and  to  monetary  operations  or transactions performed by or on behalf of them.

If you have any questions regarding our AML policy, please contact our compliance@globalnetint.net