Anti-Money Laundering (AML) Policy

ZedPay Financial System and Services P.J.S.C is firmly committed to preventing the use of its services for money laundering, terrorist financing, or any other illicit financial activity. Our AML policy is designed in accordance with the best practices outlined by global standards such as the Financial Action Task Force (FATF), as well as applicable local and international laws.

1. Policy Statement

ZedPay strictly prohibits and actively prevents money laundering and the funding of terrorist activities by maintaining a comprehensive compliance program and enforcing strong internal controls.

2. Customer Due Diligence (CDD) and KYC

We implement rigorous Know Your Customer (KYC) protocols for all users. This includes:

• Collection and verification of personal or corporate identification documents.
• Screening against international watchlists and sanctions databases.
• Enhanced Due Diligence (EDD) procedures for high-risk customers or jurisdictions.

3. Transaction Monitoring

We continuously monitor user activities and transactions using automated systems and manual reviews to identify unusual or suspicious behavior. Any transaction that deviates from expected norms may be subject to further investigation or reporting.

4. Suspicious Activity Reporting

When suspicious transactions are detected, they are escalated to our compliance team. If required, ZedPay will report such activity to the appropriate Financial Intelligence Unit (FIU) or regulatory body in line with legal obligations.

5. Risk-Based Approach

Our AML framework is based on a risk-based approach. We categorize customers and services into different risk levels and apply controls proportionally. This includes evaluating:

• Type of services used
• Geographic location
• Volume and frequency of transactions

6. Record Keeping

ZedPay maintains comprehensive records of customer identification, transaction history, and compliance reviews for a minimum of 5 years, in accordance with regulatory requirements.

7. Training and Awareness

All employees undergo regular AML training to ensure awareness of current risks, detection techniques, and the responsibilities of each team member in identifying and mitigating AML risks.

8. Compliance and Review

Our Compliance Officer oversees the implementation of AML policies and procedures. Periodic internal audits are conducted to assess the effectiveness of the AML program and ensure adherence to applicable laws and evolving regulations.