Anti-Money Laundering Policy

Money laundering refers to the process of concealing the source of legally and illegally and grey area obtained monies. The methods by which money may be laundered are varied and can range in sophistication.

To maintain our integrity as a leading online and mobile payments platform, {partner} is legally bound by the laws of the {partner_country} following the enactment of the The Proceeds of Crime and Anti-Money laundering Act, 2009 (Act No. 9 of 2009) was passed by Parliament in December, 2009 and came into operation on June 28, 2010., Central Bank of Kenya Act and Legal Notice No. 23 of 28th February, 1996, the Anti-Terrorism Act, 2008 (Act 762) and the subsequent passage of the Anti-Money Laundering Regulations, 2011 (L.I.1987) to give necessary attention to the fight against money laundering and terrorist financing.

Our Approach To Detect
You may find that you are asked to confirm your identity and other personal details. {partner} has established special verification systems involving your bank account or payment card to prove your identity. To safeguard the integrity of our payment system, your {partner} account may also be subject to periodic transaction limits depending on your user status.

You could be asked to confirm your identity whether you are applying to be a new customer or have been a customer for some time. While our identity verification systems are designed to minimise any inconvenience for you, the verification process may take several days to complete.

Our Reasons To Detect
Crime and terrorism need cash. Criminals turn the "dirty" cash made from drug trafficking, smuggling, and robbery into clean money by using false identities or taking the names of innocent people - like you. Making sure that people are who they say they are is essential in the fight against crime and terrorism. This does not mean in any way that suspicion is falling on you. Any information about your identity is held confidentially and will help stop your identity being used falsely.

Helping Governments and Authorities
The Kenya Government and all organisations involved in financial services are all united in their determination to stop the spread of financial crime as part of the international effort to crack down on financial crime - protecting us all against crime and terrorism.

Your co-operation is vital to the successful fight against crime and terrorism.

The laws of the {partner_country} requires:

  1. We may be required to verify your identity and address.
  2. We are required to keep full records of all transactions together with identification provided.We are required to monitor any unusual or suspicious transactions of any size.
  3. We have a legal obligation to report to the Economic and Organised Crime Office (EOCO) any suspicious transaction.