ANTI-MONEY LAUNDERING POLICY

The Australian Anti-Money Laundering / Anti-Terrorism Financial Act 2006 strengthens Australia's anti-money laundering / anti-terrorism financial management and is aligned with international FATF regulations. The bill covers the financial industry, gaming industry, gold trading and other professional fields and businesses. The bill was refined from 2006 to 2008, allowing the industry to set sufficient time to comply with its own reporting system, all provisions of the Act in 2008 from the formal implementation. Global Trade provides professional currency conversion and international transfers, and we are obligated to report all relevant transactions to Australian regulators in accordance with laws and regulations, in particular transactions that we believe may involve money laundering / terrorist financial activities. In accordance with the Australian Government's anti-money laundering centre reporting requirements, three business need to be declared, they are: large cash transactions, international remittance transaction and suspected remittance transactions, our declaration system specific requirements are as follows:

The Act provides that the reporting enterprise has the following obligations:

  • Authentication and identification of customer identities.
  • Transactions are recorded.
  • Development and maintenance of anti-money laundering / terrorist financing activities.
  • Monitoring and reporting of suspicious customers.
  • Cash transaction at any counter or cash exchange will be declared at or above the equivalent AUD 10000.00.
  • All international remittances in foreign currency processed through banks, whether imported or remitted abroad, must be declared by our company.
  • Foreign currency remittance in Australia is not required to be declared.
  • Remittance of funds in or out of China do not need to be declared (to be confirmed).
  • In the case of an agency that transacts with us in the name of the company, the procedure is the same as above.
  • Daily transactions are reported every day.
  • The information of customers includes:
    • Name
    • Date of birth
    • Gender
    • Driver's license or passport number
    • Office or residential address
    • Beneficiary and Beneficiary bank address (or phone)
    • Signature
  • For company customers, please obtain more information.

RISK WARNING

The trading of currencies involves a significant amount of risk, including such prices can fluctuate on any given day and time (down to seconds). Because of such price fluctuations, you may gain or lose value of your assets at any given moment. Any currency may be subject to large swings in value and may even become absolutely worthless. There is always an inherent risk that losses will occur as a result of buying, selling or trading digital currencies.

Digital Currency trading has specific risks, which are not shared with other official currencies, goods or commodities in a market.

Unlike most currencies, which are supported by government reserves or other legal entities, as well as commodities such as silver and gold, digital currency is backed by mathematics, technology and trust only and has no underlying value. The currency is absolutely decentralized, which means there is no authority that can take corrective measure to protect the currency value in a crisis or issue more currency.

All digital currency are autonomous and unregulated worldwide payment system. When using digital currency - traders put their trust in the digital, decentralized and mostly anonymous system, which relies on p2p networking and cryptography to maintain its integrity.

Be aware all digital currency trading is susceptible to irrational or rational bubbles or absolute loss of confidence, which could collapse demand/supply. Any actions, even remotely connected to digital currency can crash confidence in this currency, such as unexpected changes imposed by the currency developers, a government crackdown, the creation of a superior competing digital currency alternative, or even a deflation or inflation spiral.