Anti Money Laundering and Anti-Terrorist Financing Compliance
GlobalNet Money Transfer(GlobalNet) is a licensed Money Service Business (MSB) with Her Majesty’s Customs & Excise.
GlobalNet Money Transfer establish and implement risk-based policies, procedures, and processes to comply with the laws of the United kingdom and those of the jurisdictions in which we operate, as well as, safeguard our operations from money laundering and terrorist financing.
GlobalNet Compliance Department strives to be considered a best-in-class global Anti-Money Laundering and Anti-Terrorist Financing Compliance Department. We are committed to detecting and preventing money laundering and terrorist financing. Consequently, enhanced due diligence is performed on all Agents before Appointment. All remittances processed by GlobalNet are screened with enhanced controls to prevent money laundering and terrorist financing. It is our policy to follow both the letter and spirit of the law and regulations. Our policies and procedures comply with laws of the United Kingdom
GlobalNet allows you to transfer money at your convenience; our maximum transaction limits have been set at £600.00. However, we may transfer sums of up to £5,000.00, after a copy of customer Identification and proof of address has been received and placed on customer's file.
Our Compliance Department is dedicated to providing support and ongoing guidance regarding anti money laundering and anti terrorist financing. If you have any comments, questions, or require guidance or support please contact us at compliance@globalnett.co.uk, compliance@global-nett.co.uk or call +44208 318 5860
Why Are My Asked To Confirm My Identity?
You may find that you are asked to confirm your identity and other personal details. This is to safeguard the integrity of our system, your GlobalNet account will be subject to periodic review and transaction limits depending on your status.
When?
You could be asked to confirm your identity whether you are applying to be a new customer or have been a customer for some time. While our identity verification systems are designed to minimise any inconvenience for you, the verification process
Why?
Crime and terrorism need cash. Criminals turn the "dirty" cash made from drug trafficking, smuggling, and robbery into clean money by using false identities or taking the names of innocent people - like you. Making sure that people are who they say they are is essential in the fight against crime and terrorism. This does not mean in any way that suspicion is falling on you. Any information about your identity is held confidentially and will help stop your identity being used falsely.
Who is involved?
HMR&C Government and all organisations involved in financial services. All are united in their determination to stop the spread of financial crime as part of the international effort to crack down on financial crime - protecting us all against crime and terrorism.
United Kingdom Laws
The United Kingdom law requires us to monitor any unusual or suspicious transactions of any size, taking place where we have reasons to believe the money is derived from illegal activity.
It also requires us to keep full records of all transactions together with copies of identification provided. The Identification may be in the form of a passport, driver's licence, credit / debit card, bank /credit card statement and utility bill. We will not process any transaction where this information is withheld.
GlobalNet have a legal obligation to report to Customs and Excise any such suspicious transactions. The definition of a suspicious transaction is one that raises "an unconfirmed belief"
Right to refuse and investigate transactions
GlobalNet reserves the right at all times to refuse to process any transfers at any stage, which it believes in its sole discretion, is connected in any manner to money laundering activity or other unlawful purpose.
Reporting procedures
There is a statutory obligation on all GlobalNet Authorises Agent and employees to report suspicious transactions to the Authorising Centre.
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