AML Policy

GlobaVest REIT Anti-Money Laundering (AML) Policy

The purpose of this AML policy is to ensure that GlobaVest is in compliance with all relevant laws and regulations related to money laundering prevention. This policy applies to all employees, agents, and affiliates of GlobaVest.

Purpose of AML POLICY

Money laundering refers to the act of hiding, disguising, or converting proceeds from illegal activities or terrorist financing into legitimate funds. AML refers to anti-money laundering measures taken to prevent, detect, and report suspicious transactions. Customer Due Diligence GlobaVest will undertake customer due diligence (CDD) measures for all new and existing customers. This will involve verifying customer identification and assessing the customer’s risk for money laundering.

Identification: GlobaVest will collect and verify the identity of the customer through documents and/or electronic identification systems. This may include government-issued identification, utility bills, and other relevant documents.

Risk assessment: GlobaVest will assess the customer’s risk of money laundering based on factors such as the customer’s location, occupation, and the purpose of the transaction.
Suspicious Activity Reporting
GlobaVest will report any suspicious transactions or activities to the relevant authorities. This may include transactions or activities that appear to be inconsistent with the customer’s known financial profile or that are otherwise suspicious.

Record-keeping
GlobaVest will maintain appropriate records of customer identification, CDD measures, and suspicious activity reports in accordance with applicable laws and regulations.

Training and Awareness
GlobaVest will provide training to all employees, agents, and affiliates on AML policies and procedures, including the recognition and reporting of suspicious activities.

Compliance and Monitoring
GlobaVest will regularly review and update its AML policies and procedures to ensure compliance with applicable laws and regulations. The company will also conduct periodic risk assessments to identify and mitigate any AML risks.

Non-Compliance
Non-compliance with this AML policy may result in disciplinary action, including termination of employment or contract.

GlobaVest is committed to preventing money laundering and will take all necessary steps to comply with applicable AML laws and regulations.