AML and KYC Privacy
If you have any questions or concerns about our AML and KYC Policy, please contact us using the contact information provided at the end of this document.
AML and KYC Policy
Cardify Africa is committed to complying with anti-money laundering (AML) and know-your-customer (KYC) regulations to ensure the safety and security of its platform and users. This AML and KYC Policy outlines the verification requirements for different levels of KYC on Cardify Africa's website (www.cardify.co).
Level 1 KYC
Level 1 verification on Cardify Africa requires users to verify their email and phone number, as well as set a 4-digit pin for outbound transactions. This is the basic level of KYC and is mandatory for all users to access and use Cardify Africa's services.
Level 2 KYC
Level 2 verification on Cardify Africa requires additional steps to enhance the security and compliance of the platform. Users are required to verify their regulatory ID card number with a system parameter in the regulatory database. For example, for users in Nigeria, the Bank Verification Number (BVN) is used for this purpose. Users are required to enter their BVN and validate it by entering the code received from their BVN registered phone number. Similar regulatory KYC methods may apply to users in other countries as per Cardify Africa's policies.
In addition to regulatory ID verification, users are also required to set up a two-factor authentication (2FA) method for Level 2 KYC. At the time of writing this policy, Cardify Africa offers two options for 2FA: authenticator app and email one-time password (OTP) methods. Users are required to choose one of these methods and complete the setup process.
Compliance and Monitoring
Cardify Africa maintains strict compliance with AML and KYC regulations and continuously monitors user activity on its platform. Any suspicious or potentially fraudulent activity is promptly investigated, and appropriate actions are taken, including but not limited to freezing user accounts, reporting to the relevant authorities, and terminating user access to the platform.
User Data Privacy
Cardify Africa takes user data privacy seriously and complies with applicable data protection laws. User data collected during the KYC verification process is securely stored and used only for the purpose of complying with regulatory requirements and ensuring the security of Cardify Africa's platform and services.
Cardify Africa's AML and KYC Policy is designed to protect the integrity of its platform, prevent money laundering, and comply with regulatory requirements. Users are required to complete the necessary KYC verification steps according to their selected level of KYC, and failure to do so may result in limited access or termination of user accounts. Cardify Africa reserves the right to update or modify this policy at any time, and any changes will be communicated to users. By using Cardify Africa's services, users agree to comply with this AML and KYC Policy.
For any questions or concerns regarding Cardify Africa's AML and KYC Policy, users can contact Cardify Africa's customer support team at email@example.com or through the contact information provided on the website (www.cardify.co).
Cardify Africa remains committed to maintaining a safe and secure platform for its users, and appreciates their cooperation in completing the necessary KYC verification steps. By complying with AML and KYC regulations, Cardify Africa aims to create a trusted and compliant environment for its users to transact and interact on its platform.
Thank you for choosing Cardify Africa as your preferred platform for digital transactions. We value your trust and confidence in our services.