Globemarket.co.in Anti-Money Laundering and KnowYour Customer Policy (hereinafter – the “AML/KYC Policy”) is designated to prevent and mitigate possible risks ofGlobemarket.co.in being involved in any kind of illegal activity.Both international and local regulations require Globemarket.co.into implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking,proliferation of weapons of mass destruction,corruption and bribery and to take action in case ofany form of suspicious activity from its Users.
AML/KYC Policy covers the following matters:
- Verification procedures.
Sanctions and PEP lists screening.
1. Verification procedures
One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD,Globemarket.co.in establishes its own verification procedures within the standards of anti-money laundering and “Know Your Customer” frameworks.
1.1. Identity verification
1.2. Card verification
The Users who are intended to use payment cards in connection with the Globemarket.co.in’s Services have to pass card verification in accordance with instructions available on the Globemarket.co.in’s Site.
2. Sanctions and PEP lists screening.
Globemarket.co.in screens applicants against recognised Sanctions and Politically Exposed Persons (PEPs) lists. Individuals and legal entities are screened against mentioned lists:
- on the onboarding stage when the user is submitting the application;
- on each anti-fraud and AML alerts manually by Compliance Officer;
- monthly by running automatically with a script to re-check all DB of customers.
- For the screening process performing Globemarket.co.in uses WorldCompliance data (provided by LexisNexis) integrated into the proprietary software and supported by World-Check One online search tool (provided by Refinitiv) for manual confirmation.
3. Compliance Officer
The Compliance Officer is the person, duly authorized by Globemarket.co.in, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer’s responsibility to supervise all aspects of Globemarket.co.in’s anti-money laundering and counter-terrorist
financing, including but not limited to:
a.Collecting Users’ identification information.
b. Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
c. Monitoring transactions and investigating any significant deviations from normal activity.
d. Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs.
e. Updating risk assessment regularly.
f. Providing law enforcement with information as required under the applicable laws and regulations.
The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
4. Monitoring Transactions
The Users are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, Globemarket.co.in relies on data analysis as a risk-assessment and suspicion detection tool. Globemarket.co.in performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:
1) Daily check of Users against recognized “black lists” (e.g. OFAC), aggregating transfers by multiple data points, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable;
2) Case and document management.
With regard to the AML/KYC Policy, Globemarket.co.in will monitor all transactions and it reserves the right to:
- ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer;
- request the User to provide any additional information and documents in
case of suspicious transactions;
- suspend or terminate User’s Account when Globemarket.co.in has reasonably suspicion that such User engaged in illegal activity.
The above list is not exhaustive and the Compliance Officer will monitor Users transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide.
5. Risk Assessment
Globemarket.co.in, in line with the international requirements, has adopted arisk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, Globemarket.co.in is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.
Terms & Conditions
The Terms and Conditions below govern the relationship between you, the visitor, customer or website user, and GPocket Marketing Services Pvt Ltd. in. These terms and conditions are the disclaimer of the company which customer will have to follow for using Globemarket.co.in services completely.
- Registration and Privacy
- GPocket Marketing Services Pvt Ltd provides a number of online services, which enables users to purchase varieties of Products, Gift cards, gift vouchers from many brands Upon placing order on Globemarket.co.in shall ship the Products/vouchers/cards to you and be entitled to its payment for the services
3. Security and Password
- You are solely responsible for maintaining the confidentiality of your password and account and for any and all statements made and acts or omissions that occur through the use of your password and account.
4.Call,E-mail, Messaging, Blogging, and Chat Services
5. Applicable Law
- This agreement shall be governed by and interpreted and construed in accordance with the laws of India. We as a merchant shall be under no liability whatsoever in respect of any loss or damage arising directly or indirectly out of the decline of authorization for any Transaction, on Account of the Cardholder having exceeded the preset limit mutually agreed by us with our acquiring bank from time to time.
6. Contact us
- If you have questions, please feel free to contact customer service center at [email protected] or phone at 1800.319.4343 (10am to 7pm, All Weekdays & 10am to 6pm on Sunday).