AML/KYC Notice

Capay Global is committed to preventing money laundering, terrorist financing, sanctions evasion and other financial crime. This Notice summarises the anti-money-laundering (AML) and counter-terrorist-financing (CFT) controls we apply, and what they mean for merchants and their customers. It supports, and should be read with, our Terms of Service and Privacy Policy.

To the extent Capay Global is licensed, registered, or partners with a licensed or registered institution to provide regulated payment services, we apply these controls to meet the legal obligations that attach to that status. Where a strict legal obligation does not apply, we apply them to manage financial-crime risk on a risk-based basis.

Our AML/CFT programme is designed to align with the risk-based framework in the Recommendations of the Financial Action Task Force (FATF) and with applicable national and regional law in the countries in which we operate. Depending on the country, this may include, among others:

• Nigeria: the Money Laundering (Prevention and Prohibition) Act 2022 and the Terrorism (Prevention and Prohibition) Act 2022, and the requirements of the relevant regulators.
• Ghana: the Anti-Money Laundering Act, 2020 (Act 1044) and related guidance.
• Kenya: the Proceeds of Crime and Anti-Money Laundering Act, 2009 and the Prevention of Terrorism Act, 2012.
• South Africa: the Financial Intelligence Centre Act, 2001 (FICA).
• Cameroon and the CEMAC region: the CEMAC anti-money-laundering regulation and the requirements of COBAC and the national authorities.
• Other African countries and the EU/UK: the applicable national AML/CFT laws and sanctions regimes, together with the FATF standards.

Before we open an account, and on an ongoing basis, we carry out customer due diligence. For merchants (know your business, or KYB) this includes verifying the business, its registration, its ownership and control structure, and its ultimate beneficial owners. For individuals (know your customer, or KYC) this includes verifying identity using government identification and, where required, proof of address and a liveness or selfie check.

We may apply enhanced due diligence to higher-risk customers, products, countries or transactions, and simplified due diligence where the risk is demonstrably low and the law allows. We may refuse to onboard, or may offboard, any customer we cannot adequately verify or whose activity we cannot reconcile with a lawful purpose.

We screen customers, beneficial owners, counterparties and transactions against sanctions lists, watchlists, politically-exposed-person (PEP) lists and adverse-media sources, at onboarding and on an ongoing basis. We do not process transactions for sanctioned parties or in breach of applicable sanctions, and we may block, hold, reject or return a transaction that raises a sanctions or watchlist match pending review.

We monitor transactions and account activity for patterns that may indicate money laundering, terrorist financing, fraud or other financial crime, using a combination of automated tools and human review. Monitoring may cause a transaction to be flagged, delayed, held, declined or escalated for investigation, and may lead to a request for further information or documents.

Where we are required to do so, we report suspicious activity to the competent financial-intelligence unit or authority, and we cooperate with lawful requests from regulators, financial-intelligence units, tax authorities, courts and law-enforcement.

The law generally prohibits us from "tipping off": we cannot tell you that a suspicious-activity report has been made or is being considered, or disclose its content. This means that in some cases we may be unable to explain why a transaction or account has been delayed, restricted or closed.

We keep records of the identity information we collect, of the due diligence we carry out, and of transactions, for at least five (5) years after the end of the business relationship or the completion of the transaction, consistent with FATF Recommendation 11, and for longer where a specific law requires. How we handle this personal data is explained in our Privacy Policy.

Merchants must support our AML/CFT programme. In particular, merchants must:

• Provide accurate and current KYB and KYC information and respond promptly to requests for information or documents.
• Use the service only for lawful business that is permitted under our Terms of Service and Acceptable Use Policy, and not for any prohibited or restricted business.
• Not use the service to facilitate money laundering, terrorist financing, sanctions evasion, fraud or any other financial crime, and not act for or on behalf of a sanctioned party.
• Maintain their own AML and sanctions controls where the law requires, and cooperate with our investigations and lawful requests.

Where our controls or the law require it, we may request further information, apply enhanced due diligence, delay or decline a transaction, hold or return funds, freeze, restrict, suspend or close an account, and report to the competent authorities. We may take these steps without prior notice where the law requires or where notice would prejudice an investigation.

The personal data we collect and use for AML/CFT purposes is handled in accordance with our Privacy Policy, which explains the lawful bases, the recipients, international transfers, retention and your data-protection rights. Please note that some rights are limited in this context: for example, we cannot delete records that AML law requires us to keep, and we cannot disclose information whose disclosure is restricted by law, such as the existence of a suspicious-activity report.

Questions about this Notice can be sent to [email protected]. Data-protection questions can be sent to the Data Protection Officer at [email protected].

Related documents: our Terms of Service, Acceptable Use Policy, Privacy Policy, Cookie Policy and Data Processing Addendum.