Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy

Effective Date: april 24, 2026

FastPay is committed to preventing money laundering, terrorist financing, fraud, and other financial crimes. This policy outlines our compliance with applicable laws and regulatory requirements in Nigeria.

1. Regulatory Compliance

FastPay complies with all relevant laws and guidelines issued by financial regulatory authorities in Nigeria, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.

2. Know Your Customer (KYC)

We implement strict identity verification procedures to ensure all users are properly identified:

• Collection of full name, phone number, and email address
• Verification using valid government-issued identification (e.g., NIN, BVN, Passport)
• Address verification where required
• Ongoing customer due diligence

3. Customer Due Diligence (CDD)

We conduct risk-based assessments of users to determine their level of risk and apply enhanced due diligence where necessary.

4. Transaction Monitoring

All transactions are monitored in real-time to detect suspicious patterns, including:

• Unusual transaction volumes
• Repeated failed transactions
• Transactions inconsistent with user profile

5. Suspicious Activity Reporting

FastPay reserves the right to report suspicious transactions to appropriate regulatory authorities without notifying the user where required by law.

6. Prohibited Activities

• Money laundering
• Terrorist financing
• Fraudulent transactions
• Use of stolen or unauthorized payment methods

7. Sanctions Compliance

We screen users against applicable sanctions lists and may block or suspend accounts linked to restricted individuals or entities.

8. Record Keeping

We maintain records of customer identification and transactions as required by law for audit and compliance purposes.

9. Account Suspension or Termination

FastPay may suspend or terminate accounts that violate this policy or pose a regulatory risk.

10. Contact

For compliance-related inquiries:

Email: support@fastpay.ng
Address: Abuja,fct Nigeria