Introduction

PAYZOF, as a fintech company committed to providing innovative financial solutions, recognizes the necessity and importance of combating money laundering and terrorist financing. This Anti-Money Laundering (AML) Policy aims to outline the procedures and measures that PAYZOF adopts to detect, prevent, and report any suspicious activities.

Commitment to AML Compliance

PAYZOF is firmly committed to adhering to all laws, regulations, and international standards pertaining to anti-money laundering and terrorist financing. We take the responsibility of safeguarding our platform and services from any misuse for unlawful purposes.

Compliance Procedures and Measures

1. Identity Verification: PAYZOF will conduct thorough customer identity verifications in accordance with prevailing regulations, by collecting verifiable information such as identification documents, proof of address, and other relevant records.
2. Transaction Monitoring: PAYZOF will establish real-time transaction monitoring systems to detect any suspicious activities, including unusual transactions in terms of amount, frequency, or nature.
3. Reporting and Suspicious Activity: If PAYZOF identifies suspicious activity or transactions, immediate steps will be taken to investigate and, if necessary, report such activity to the relevant authorities in compliance with the applicable laws and regulations.
4. Training and Awareness: PAYZOF is committed to training its staff on AML procedures and raising awareness among its customers about the importance of combating money laundering and terrorist financing.
5. Risk Assessment: PAYZOF will conduct regular risk assessments to identify potential areas of vulnerability to illicit activities and adjust its procedures accordingly.

Collaboration with Authorities and Stakeholders

PAYZOF will fully cooperate with regulatory authorities, law enforcement agencies, and other stakeholders to effectively combat money laundering and terrorist financing. We will maintain a transparent and open relationship with these parties to ensure the safety and integrity of our services.

Responsibility and Accountability

Each member of PAYZOF's staff is obligated to adhere to and implement this AML policy. Any violations of this policy will be treated seriously and in accordance with the company's internal procedures.

This AML policy of PAYZOF is subject to periodic revisions to reflect regulatory developments and best practices. All users of our services are encouraged to regularly review this policy.

Sincerely

PAYZOF