Kudiwave is committed to preventing money laundering and terrorist financing. This Anti-Money Laundering (AML) Policy outlines our procedures and controls to comply with Nigerian AML laws.
1. Customer Identification
We implement a rigorous Know Your Customer (KYC) process to verify the identity of our users. This includes collecting and verifying personal information and documentation.
2. Monitoring Transactions
We monitor transactions for suspicious activities and report any unusual or suspicious transactions to the relevant authorities as required by law.
3. Record Keeping
We maintain records of customer information and transactions for a minimum of five years, as required by Nigerian law.
4. Training and Awareness
We provide ongoing training to our employees to ensure they are aware of AML regulations and can identify and report suspicious activities.
5. Reporting Obligations
We comply with all reporting obligations under Nigerian law, including filing Suspicious Activity Reports (SARs) with the Nigerian Financial Intelligence Unit (NFIU).
6. Compliance Officer
We have appointed a dedicated AML Compliance Officer responsible for implementing and overseeing our AML program.
7. Changes to AML Policy
We may update this AML Policy from time to time to reflect changes in laws or our practices. We will notify you of any changes by posting the new policy on our website or through the app.