Anti-Money Laundering (AML) Policy

Last updated: July 2, 2025

1. Introduction

At Payfet, we are committed to complying with all applicable laws and regulations regarding Anti-Money Laundering (AML). This AML Policy outlines the procedures and measures in place to prevent the use of our platform for money laundering, terrorism financing, and other financial crimes.

2. Purpose

The purpose of this policy is to establish a framework for detecting, preventing, and reporting suspicious activities. It is designed to protect our customers and ensure compliance with legal obligations.

3. Know Your Customer (KYC)

We implement a robust KYC process to verify the identity of our users. This includes:

Collecting valid government-issued identification
Verifying proof of address
Screening against international sanctions and watch lists

4. Monitoring and Reporting

Payfet actively monitors transactions and user behavior to identify potentially suspicious activity. We report such activity to the relevant financial authorities in compliance with local and international laws.

5. Risk Assessment

We maintain a risk-based approach to AML, considering customer type, transaction patterns, and geographic location to tailor our monitoring efforts effectively.

6. Employee Training

All employees undergo AML training to recognize signs of suspicious activity and follow internal procedures for escalation and reporting.

7. Record Keeping

We retain all relevant customer information, transaction records, and KYC documents for a minimum of 5 years or as required by law.

8. Cooperation with Authorities

Payfet cooperates fully with regulatory and law enforcement authorities in the investigation of money laundering and related crimes.

9. Policy Review

This policy is reviewed regularly and updated to remain in compliance with evolving AML regulations.

10. Contact

If you have questions about this policy or suspect suspicious activity, please contact us at: support@payfet.org