Our comprehensive framework to prevent money laundering, terrorist financing, and other financial crimes.
Payyng is committed to maintaining the highest standards of compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This policy establishes our framework for preventing, detecting, and reporting suspicious financial activities in accordance with Nigerian financial regulations and international best practices.
Zero Tolerance: We maintain a zero-tolerance approach to money laundering, terrorist financing, and all forms of financial crime. Violations will result in immediate account suspension and reporting to relevant authorities.
All customers must provide valid government-issued identification including National ID, International Passport, or Driver's License. We verify these documents through secure third-party verification services.
Customers must provide proof of address through utility bills, bank statements, or official correspondence dated within the last 3 months.
For high-risk customers or transactions exceeding ₦1,000,000, we conduct enhanced due diligence including source of funds verification and additional documentation requirements.
We continuously monitor customer transactions and behavior patterns to identify suspicious activities and ensure compliance with regulatory requirements.
Our advanced AI-powered systems monitor all transactions in real-time, analyzing patterns, amounts, frequencies, and counterparties to detect suspicious activities.
Daily transaction limits are enforced based on customer verification levels: Tier 1 (₦50,000), Tier 2 (₦500,000), Tier 3 (₦5,000,000). Transactions exceeding these limits require additional verification.
We monitor for structured transactions, unusual transaction patterns, transactions to high-risk jurisdictions, and other indicators as defined by regulatory guidelines.
Suspicious transactions are automatically flagged and reported to our compliance team for investigation and potential reporting to relevant authorities within 24 hours.
Any attempt to disguise the source of illegally obtained funds through our platform is strictly prohibited and will result in immediate account suspension and reporting to authorities.
We maintain zero tolerance for any activities related to terrorist financing. All transactions are screened against international sanctions lists and terrorist financing databases.
We prohibit all forms of fraud, including identity theft, account takeover, payment fraud, and any other financial crimes. Violators will face account termination and legal action.
Transactions involving sanctioned individuals, entities, or jurisdictions are strictly prohibited. We maintain comprehensive sanctions screening procedures.
We comply with all applicable Nigerian financial regulations including CBN guidelines, NFIU requirements, and international standards such as FATF recommendations.
All employees receive comprehensive AML training upon joining and annual refresher training to ensure awareness of latest threats and regulatory requirements.
Our AML program undergoes regular independent audits by certified compliance professionals to ensure effectiveness and regulatory compliance.
We maintain detailed records of all transactions, customer due diligence documentation, and compliance activities for a minimum of 7 years as required by regulations.
Standard KYC, domestic transactions under ₦100,000, verified customers with consistent patterns
Enhanced monitoring, transactions ₦100,000-₦1,000,000, new customers, cross-border payments
Enhanced due diligence, transactions over ₦1,000,000, PEPs, high-risk jurisdictions
+234 (0) 700 COMPLY
24/7 anonymous reporting hotline for whistleblowing
NFIU Portal
Automatic reporting to Nigerian Financial Intelligence Unit
EFCC / Police
Direct cooperation with law enforcement agencies
Provide accurate and complete information during account registration and verification
Promptly update personal information when changes occur
Cooperate with additional verification requests and compliance procedures
Report any unauthorized or suspicious activities on your account immediately
Ensure all transactions comply with applicable laws and regulations
For AML-related inquiries, compliance concerns, or to report suspicious activities:
+234 (0) 700 COMPLY
24/7 Monitoring & Response
Within 24 hours