Anti-Money Laundering Policy — Bynnex Ltd

Last updated: 9 May 2026
Website: bynnex.co.uk
Company: Bynnex Ltd

1. Purpose

Bynnex Ltd sells bullion and precious metals online. We are committed to preventing money laundering, terrorist financing, fraud, sanctions evasion, and other financial crime through our website and business operations.

This policy explains the checks we may carry out before accepting, processing, dispatching, cancelling, or refunding orders.

2. Legal and regulatory approach

Bynnex Ltd operates in the United Kingdom and follows a risk-based approach to anti-money laundering controls.

UK guidance defines a High Value Dealer as a business trading in goods that makes or receives cash payments of at least €10,000, whether in one transaction or linked transactions. HMRC guidance also identifies dealers in precious metals and stones as higher-risk for money laundering and terrorist financing.

Bynnex Ltd does not intend to accept large cash payments through bynnex.co.uk. Where any transaction presents elevated risk, we may request further information before completing the order.

3. Customer due diligence

We may carry out customer checks including:

  • verifying the customer’s identity;
  • verifying billing, delivery, and payment details;
  • requesting proof of address;
  • requesting source of funds or source of wealth information;
  • screening against sanctions, politically exposed person, and adverse media databases;
  • refusing delivery to addresses or jurisdictions we consider high-risk.

We may ask for additional information where an order is unusually large, unusual in pattern, inconsistent with the customer profile, involves third-party payment, uses mismatched billing and delivery details, or raises concerns about fraud or financial crime.

4. Orders, payment, and delivery controls

Bynnex Ltd may refuse, delay, cancel, or refund any order where:

  • identity or payment details cannot be verified;
  • the source of funds is unclear;
  • payment is made by a third party without satisfactory explanation;
  • the order appears structured to avoid checks;
  • the transaction appears linked to fraud, money laundering, terrorist financing, sanctions evasion, or other unlawful conduct;
  • the customer refuses to provide requested information.

Refunds will normally be returned to the original payment method, unless we are legally required to act differently.

5. Suspicious activity

If we know or suspect that a transaction may involve criminal property, money laundering, terrorist financing, sanctions evasion, fraud, or other unlawful activity, we may report the matter to the relevant authorities, including the National Crime Agency through the Suspicious Activity Report process. The NCA describes SARs as a key UK mechanism for reporting suspected money laundering and terrorist financing.

We may not tell a customer that a report has been made where doing so could breach legal obligations.

6. Sanctions compliance

Bynnex Ltd will not knowingly deal with sanctioned individuals, sanctioned entities, or prohibited jurisdictions. We may screen customers, payment details, and delivery information before completing an order.

7. Record keeping

We may retain customer due diligence records, order records, payment records, correspondence, and risk assessment information for legal, regulatory, fraud prevention, and accounting purposes.

8. Staff training and internal controls

Bynnex Ltd maintains internal procedures designed to identify and manage financial crime risks. Relevant staff are expected to understand red flags, escalation procedures, customer verification requirements, and suspicious activity reporting obligations.

9. Customer cooperation

By placing an order on bynnex.co.uk, customers agree to provide accurate information and cooperate with verification checks. Failure to provide requested information may result in the order being delayed, cancelled, or refused.

10. Contact

For questions about this policy, contact:

Bynnex Ltd
Website: bynnex.co.uk
Email: info@bynnex.co.uk