AML: Another Chief Compliance Officer departs from GlobalNetInt

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GlobalNetInt UAB (GNI), licensed by the Bank of Lithuania as an e-Money Institute (EMI) with authorization code LB000434, has had an audit from the regulator in recent months. The company focused on high-risk clientele appears to have compliance, KYC, and AML issues. Among the clients are many forex and crypto firms and payment processors associated with and/or facilitating scams. The problems with compliance were also confirmed to us by a consultant. Now the Chief Compliance Officer (CCO) has left the company just like his predecessor.

GNI is a part of the MoneyNetInt Group of the Trif Family and Raphael Golan. The company is licensed as EMI since 2014 under reference number 517227. The company was founded in 2004 by Raphael Golan, born in April 1959 as Moneynet International Money Transfer Limited and renamed MoneyNetInt Ltd in 2014. GNI was incorporated in 2017, with Lithuanian Liudvikas Kulikauskas becoming the local director and small shareholder.

GNI‘s client list is indeed impressive. Until recently, the majority of revenues and transaction volumes were generated by a group of companies with vast gambling and betting activities.

As payment processors working for scams, we have discovered the ZotaPay (Zota Technology Ltd), and AstroPay (AP Global Corporation LLP). Some offshore banks such as Pacific Private Bank, South American International Bank of Curacao, CN International Bank from Puerto Rico, or Euro Exim Bank from Saint Lucia also maintain accounts with GNI.

Honestly, we understand that a compliance officer at GNI does not have an easy job, given the many high-risk and dark web clients.

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