Compliance

As a licensed financial institution GTS tries to better industry standards in compliance matters whilst making every effort to understand the client’s needs.

The size of our operation allows us to be very specialized and build personal relationships with all our clients. We are proud to deal with clients who wish to maintain a good reputation in their marketplace, so that having an account with GTS is, in itself, a reference within their community. This ensures not only that we comply with anti-money laundering legislation but also that we can better safeguard your assets whilst providing exceptional customer service.


So for this to work, there is some essential documentation to provide. For every corporate account we need to have certified ID and proof of residence for the account signatory, directors and shareholders. ID must have a reference number, a photo, a signature, a date of birth and an expiry date. Proof of residence should be a utility bill or equivalent. We also need proof that the signatory has the right to open the account and to manage the funds of the corporation, such as a power of attorney or a board resolution. As must be expected we also need the registration document, the statutes and a document showing the tax ID of the corporation. These documents must also be certified. Certification can be done by a notary, qualified accountant, lawyer, bank officer or police officer - and we must have sufficient details to be able to  contact the certifier to confirm that they are qualified and have carried out the certification.
 
For every personal account we require certified ID and proof of residence as above.

We will often ask you to justify why transactions are being made and this may be done by telephone or by email. You should be prepared to provide us with invoices, purchase orders, contracts or other documentary evidence that the transactions you are making are legitimate. We reserve the right to contact the other parties involved for confirmation of the legitimacy of the transaction. To assist our clients in meeting their responsibilities, GTS provides facilities to check backgrounds, identities and passports through the World-Check system. This service is available to Corporate accounts for a fee of 50 USD per enquiry and to Financial Institution accounts for a fee of 25 USD per enquiry.
 
We will notify you by email, to your designated email address, every time your account is debited. We will also randomly, or when there is no response to an email when required, call the telephone number you have given us to ensure that we know at all times who is using the system. It is therefore imperative that you maintain a dialogue with our back office should any changes be made to your personal profile. To avoid certain types of fraud, passwords can only be modified after approval by the back office.

Our aim at all times is to keep our business beyond reproach. On the secure site, from which you can open and access your accounts, full details of the application processes are given.