MONEY LAUNDERING AND OTHER UNLAWFUL ACTIVITIES.
Universal Services reserves the right at all times to refuse to process any orders at any stage, which it believes in its sole discretion, is connected in any manner to a drug money laundering activity or other unlawful purpose.
We have a legal obligation to report to Customs and Excise/NCIS/SOCA any such suspicious transactions. The definition of a suspicious transaction is one that raises “an unconfirmed belief” or “a fleeting inkling”.
What does UK law require?
1. The 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.
2. The law also requires us to keep full records of all transactions and in particular those of Euro 1,000 (about £800) and above,together with copies of identification provided.
Identification may be in the form of a passport, driver’s licence,credit/debit card. We also require proof of address, this can be a recent (within last 3 months) bank/credit card statement, utility bill, telephone bill (excluding mobile). We are unable to process any transaction where this information is withheld. For other suitable identification please call us on : 01582 505565
There is a statutory obligation on all Universal Services employees and their agents to report suspicious transactions to the Authorising Centre.
By knowingly failing to report any suspicious transactions or deliberately breaking large transactions into smaller amounts to avoid detection, breaks the law and may result in imprisonment a fine or both.