FINANCIAL OPERATIONAL PROCEDURE
AS PER THE EXTRACT OF THE CONTRACT THAT THE CLIENT SHALL BE SIGNING WHEN ALL THE PROCEDURES ARE MET, IT IS IMPORTANT TO CLEARLY STATE THE FOLLOWING:
CURRENCY AND SWIFT WIRE RULES
- Customer is advised that all prices as per the Duly-Signed Pro-Forma Invoice SHALL be in United States Dollars, unless another international currency is permitted by Glo-JET/IACP&FJO’s Department of Finance and Administration, in consultation with the International Partners.
Important NOTE: In strict adherence to the PROCEEDS OF CRIME AND ANTI-MONEY LAUNDERING (AMENDMENT) ACT OF 2017 (POCAMLA) as well as Central Bank of Kenya (CBK) Rules and Regulations, there shall be NO CASH PAYMENT.
Paragraph 4 of the company’s contract can be waived if the Group Director of Finance and Administration sees the need dictated by special circumstances which must be communicated in writing to the Office of Director of Finance and Administration.
- Customer is advised that all supporting evidential documents including this Charter Agreement/T&C’s, client passport details and residential/work address shall be shared with the respective Government Law Enforcement Agencies, CBK, Glo-JET/IACP&FJO’s BANKERS and Financial Reporting Centre (FRC) should The Group Director of Risk and Compliance detect glaring acts of Money Laundering and CRIME based on his/her forensic scrutiny.
In the event the Group Directors of Finance/Administration and Risk/Compliance feel the FUNDS wired by the Customer to Glo-JET International Account(s) as per this AGREEMENT are not from a legitimate and/or legal means, they shall recommend to GLO-JET’s EXECUTIVE BOARD OF MANAGEMENT to proceed and pass a resolution that shall be communicated to the BANK. This communique shall instruct the BANK to FREEZE and Hold the said Questionable FUNDS thereafter immediately block the Customer from seeking services of Glo-JET/IACP&FJO. Subsequently, a report on the matter, hitherto, shall be filed with the following institutions:
THE DIRECTORATE OF CRIMINAL INVESTIGATIONS (DCI). SPECIFIC UNITS ARE:
- INTERNATIONAL CRIMINAL POLICE ORGANIZATION (INTERPOL)
- BANKING FRAUD INVESTIGATIONS UNIT (BFIU) AT DCI HEADQUARTERS
- ECONOMIC CRIME UNIT (ECU) AT DCI HEADQUARTERS
- INVESTIGATIONS BUREAU (IB) AT DCI DCI HEADQUARTERS
- THE CENTRAL BANK OF KENYA (CBK)
- FINANCIAL REPORTING CENTRE (FRC)
“……… a reporting institution shall report the suspicious or unusual transaction or activity to the Centre in the prescribed form immediately and, in any event, within seven days of the date the transaction or activity that is considered to be suspicious occurred……”
The Law is pretty clear that such suspicious funds shall be handled by Asset Recovery Agency (ARA) and Financial Reporting Centre (FRC) because Kenya (being strategically placed as the business HUB in Africa) does not condone Money Laundering, FRAUD and Criminal related activities. TAKE NOTE.
- THE DIRECTORATE OF CRIMINAL INVESTIGATIONS (DCI). SPECIFIC UNITS ARE:
- GLO-JET Pride’s itself as an Impeccable International Reputable Company that operates globally where Law and Order is the order of the day. Article (4) Sub (4.2) (4.3) (4.4) Sub (4.4.1) Sub (22.214.171.124(126.96.36.199) (188.8.131.52) and (184.108.40.206) MUST be observed to the LETTER, as an International Standard Procedure to avoid reputational risk associated with Glo-JET/IACP&FJO’S Charter Services.
THE BOARD OF DIRECTORS; ACTING ON RESOLUTION NO. 45/98/2017 RESOLVED TO TRANSACT IN THE FOLLOWING CURRENCY:
- Kenya Shilling
- United States Dollar (USD)
- Sterling Pound