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AML/KYC Policy
Last updated: 01.03.2026
At Paynomic, we are committed to preventing our platform from being used for any illegal activities. This Anti-Money Laundering and Know Your Customer (AML/KYC) Policy outlines the steps we take to achieve this, as required by both international and local laws. We have implemented procedures to prevent money laundering, the financing of terrorism, drug and human trafficking, the spread of dangerous weapons, corruption, and bribery. We also have processes in place to address any suspicious activity by our users.
What This Policy Covers
—
How we verify your identity
—
The role of our Compliance Officer
—
How we monitor transactions
—
How we assess risks
Verifying Your Identity
A key way to prevent illegal activity is by understanding who our users are. This is called "customer due diligence" (CDD). We have our own CDD procedures, which include more thorough checks ("enhanced due diligence" or EDD) for users who may present a higher risk, such as politically exposed persons (PEPs).
Our "Know Your Customer" (KYC) process requires you to provide us with reliable identification documents and information (like a national ID card, passport, bank statement, or utility bill). We have the right to collect this information to comply with our AML/KYC Policy. We will check that the documents and information you provide are genuine. We use all legal methods to verify identities and may investigate users who seem risky or suspicious. We may need to verify your identity from time to time, especially if your information changes or your activity looks unusual. We can also ask for updated documents even if you have been verified before. Your identification information will be collected, stored, shared, and protected according to our Privacy Policy and relevant laws. Once your identity is confirmed, it helps protect us from being held responsible if our services are used for illegal activities. We are not allowed to do business with individuals, companies, or countries that are on official sanctions lists. Therefore, we check against lists from the United Nations, European Union, UK Treasury, and the US Office of Foreign Assets Control (OFAC) in all the countries where we operate.
Our Compliance Officer
Our Compliance Officer is specifically responsible for making sure our AML/KYC Policy is effectively implemented and followed.
This includes:
—
Collecting your identification information.
—
Creating and updating our internal rules for handling all required reports and records.
—
Watching transactions and looking into any significant unusual activity.
—
Managing our system for storing and retrieving important documents and logs.
—
Regularly reviewing our risk assessments.
—
Providing information to law enforcement when required by law.
The Compliance Officer is also authorized to work with law enforcement to prevent money laundering, terrorist financing, and other illegal activities.
Monitoring Transactions
We don't just verify who you are; we also look at what you do through your transactions. We use data analysis to help us assess risk and identify potentially suspicious activity. Our systems help us capture data, filter information, keep records, manage investigations, and create reports. This includes:
- Daily checks of users against "blacklists" (like OFAC), grouping transfers by different data points, adding users to watch and denial lists, opening cases for investigation, sending internal communications, and completing required legal reports.
- Managing investigation cases and related documents. As part of our AML/KYC Policy, we will monitor all transactions. We have the right to:
- Report any transactions that look suspicious to the appropriate law enforcement through our Compliance Officer.
- Ask you for more information and documents if we see suspicious transactions.
- Suspend or close your account if we have a reasonable suspicion that you are involved in illegal activity. This list is not exhaustive, and our Compliance Officer will continuously monitor user transactions to decide if they should be reported as suspicious or are legitimate.
Assessing Risks
Following international guidelines, we use a risk-based approach to fight money laundering and terrorist financing. This means we make sure our prevention measures are appropriate for the risks we identify. This allows us to use our resources effectively, focusing the most attention on the areas with the highest risk.
Talk to Sales
AML/KYC Policy
Last updated: 01.03.2026
At Paynomic, we are committed to preventing our platform from being used for any illegal activities. This Anti-Money Laundering and Know Your Customer (AML/KYC) Policy outlines the steps we take to achieve this, as required by both international and local laws. We have implemented procedures to prevent money laundering, the financing of terrorism, drug and human trafficking, the spread of dangerous weapons, corruption, and bribery. We also have processes in place to address any suspicious activity by our users.
What This Policy Covers
—
How we verify your identity
—
The role of our Compliance Officer
—
How we monitor transactions
—
How we assess risks
Verifying Your Identity
A key way to prevent illegal activity is by understanding who our users are. This is called "customer due diligence" (CDD). We have our own CDD procedures, which include more thorough checks ("enhanced due diligence" or EDD) for users who may present a higher risk, such as politically exposed persons (PEPs).
Our "Know Your Customer" (KYC) process requires you to provide us with reliable identification documents and information (like a national ID card, passport, bank statement, or utility bill). We have the right to collect this information to comply with our AML/KYC Policy. We will check that the documents and information you provide are genuine. We use all legal methods to verify identities and may investigate users who seem risky or suspicious. We may need to verify your identity from time to time, especially if your information changes or your activity looks unusual. We can also ask for updated documents even if you have been verified before. Your identification information will be collected, stored, shared, and protected according to our Privacy Policy and relevant laws. Once your identity is confirmed, it helps protect us from being held responsible if our services are used for illegal activities. We are not allowed to do business with individuals, companies, or countries that are on official sanctions lists. Therefore, we check against lists from the United Nations, European Union, UK Treasury, and the US Office of Foreign Assets Control (OFAC) in all the countries where we operate.
Our Compliance Officer
Our Compliance Officer is specifically responsible for making sure our AML/KYC Policy is effectively implemented and followed.
This includes:
—
Collecting your identification information.
—
Creating and updating our internal rules for handling all required reports and records.
—
Watching transactions and looking into any significant unusual activity.
—
Managing our system for storing and retrieving important documents and logs.
—
Regularly reviewing our risk assessments.
—
Providing information to law enforcement when required by law.
The Compliance Officer is also authorized to work with law enforcement to prevent money laundering, terrorist financing, and other illegal activities.
Monitoring Transactions
We don't just verify who you are; we also look at what you do through your transactions. We use data analysis to help us assess risk and identify potentially suspicious activity. Our systems help us capture data, filter information, keep records, manage investigations, and create reports. This includes:
- Daily checks of users against "blacklists" (like OFAC), grouping transfers by different data points, adding users to watch and denial lists, opening cases for investigation, sending internal communications, and completing required legal reports.
- Managing investigation cases and related documents. As part of our AML/KYC Policy, we will monitor all transactions. We have the right to:
- Report any transactions that look suspicious to the appropriate law enforcement through our Compliance Officer.
- Ask you for more information and documents if we see suspicious transactions.
- Suspend or close your account if we have a reasonable suspicion that you are involved in illegal activity. This list is not exhaustive, and our Compliance Officer will continuously monitor user transactions to decide if they should be reported as suspicious or are legitimate.
Assessing Risks
Following international guidelines, we use a risk-based approach to fight money laundering and terrorist financing. This means we make sure our prevention measures are appropriate for the risks we identify. This allows us to use our resources effectively, focusing the most attention on the areas with the highest risk.