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

Welcome to ABCM Connect, a trademark of ABCM Business Technology Ltd (“ABCM Connect,” “Company,” “we,” “our,” or “us”). We are committed to maintaining the highest standards of integrity, transparency, and regulatory compliance in all our operations.

This Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy outlines the measures we take to prevent money laundering, terrorist financing, fraud, identity theft, and other financial crimes through our platform and services.

By using our services, you acknowledge and agree to comply with this Policy.

1. Purpose of This Policy

The purpose of this Policy is to:

• Prevent money laundering and terrorist financing activities.
• Protect our customers and business from financial crimes.
• Comply with applicable laws, regulations, and industry standards.
• Verify the identity of our customers and business partners.
• Detect and report suspicious transactions and activities.
• Promote a safe and secure business environment.

2. Scope

This Policy applies to:

• Individual customers
• Corporate customers
• Business partners
• Vendors and suppliers
• Agents and representatives
• Any person or entity using ABCM Connect services

The Policy covers all services provided by ABCM Connect, including digital payments, financial technology solutions, business services, software solutions, consultancy services, and any other services offered by the Company.

3. Regulatory Compliance

ABCM Connect complies with applicable laws and regulations relating to:

• Anti-Money Laundering (AML)
• Counter-Terrorist Financing (CTF)
• Know Your Customer (KYC)
• Fraud Prevention
• Financial Crime Compliance
• Data Protection and Privacy Regulations

We reserve the right to implement additional compliance measures whenever required by law or regulatory authorities.

4. Customer Identification Program (KYC)

To protect our platform and customers, we may require users to complete identity verification procedures before accessing certain services.

Individual Customers

Customers may be required to provide:

• Full Name
• Date of Birth
• Phone Number
• Email Address
• Residential Address
• Bank Verification Number (BVN) where applicable
• National Identification Number (NIN) where applicable
• Valid Government-Issued Identification
• Selfie or Identity Verification Photograph

Accepted identification documents may include:

• National Identity Card
• International Passport
• Driver’s License
• Voter’s Card

Corporate Customers

Businesses may be required to provide:

• Certificate of Incorporation
• Business Registration Documents
• Tax Identification Number (TIN)
• Company Address
• Directors’ Information
• Authorized Signatories
• Beneficial Ownership Information
• Regulatory Licenses where applicable

5. Verification Procedures

ABCM Connect may verify information provided by customers using:

• Government databases
• Identity verification services
• Credit reference agencies
• Financial institutions
• Regulatory authorities
• Third-party verification providers

We reserve the right to request additional documentation where necessary.

6. Risk-Based Approach

We adopt a risk-based approach to customer verification and monitoring.

Customers may be classified into different risk categories based on factors such as:

• Nature of transactions
• Transaction volume
• Geographic location
• Source of funds
• Business activities
• Customer profile

Higher-risk customers may be subject to enhanced due diligence procedures.

7. Enhanced Due Diligence (EDD)

Additional verification measures may be required for high-risk customers, including:

• Politically Exposed Persons (PEPs)
• High-value transactions
• Cross-border transactions
• High-risk industries
• Complex ownership structures

Enhanced Due Diligence may include:

• Additional identity verification
• Source of wealth verification
• Source of funds verification
• Ongoing monitoring
• Additional supporting documents

8. Transaction Monitoring

ABCM Connect monitors transactions and account activities to detect suspicious behavior.

Monitoring may include:

• Unusual transaction patterns
• Large or high-frequency transactions
• Multiple linked accounts
• Transactions inconsistent with customer profiles
• Attempts to evade verification procedures
• Potential fraudulent activities

Transactions may be delayed, reviewed, restricted, or declined where necessary.

9. Suspicious Activity Reporting

Where suspicious activity is identified, ABCM Connect may:

• Conduct further investigations
• Request additional information
• Restrict account activity
• Suspend transactions
• Report activities to relevant authorities
• Terminate customer relationships where appropriate

We may report suspicious transactions without prior notice to the customer where required by law.

10. Prohibited Activities

Users of ABCM Connect services are strictly prohibited from engaging in:

• Money laundering
• Terrorist financing
• Fraudulent transactions
• Identity theft
• Financial scams
• Unauthorized account usage
• Tax evasion schemes
• Bribery and corruption activities
• Any unlawful financial activity

Any violation may result in immediate account suspension or termination.

11. Sanctions Compliance

ABCM Connect may screen customers against applicable sanctions and watchlists maintained by relevant authorities.

We reserve the right to:

• Reject applications
• Restrict services
• Freeze transactions
• Terminate relationships

where sanctions-related concerns are identified.

12. Record Keeping

We maintain records of:

• Customer identification information
• Verification documents
• Transaction records
• Compliance reviews
• Investigation reports

Records may be retained for the period required by applicable laws and regulations.

13. Data Protection and Confidentiality

Information collected under this Policy will be handled securely and in accordance with our Privacy Policy.

Customer information will only be disclosed:

• As required by law
• To regulatory authorities
• To law enforcement agencies
• To authorized service providers assisting with compliance obligations

We implement appropriate safeguards to protect customer data from unauthorized access or misuse.

14. Failure to Complete Verification

ABCM Connect reserves the right to:

• Deny account registration
• Restrict access to services
• Delay transactions
• Suspend accounts
• Terminate customer relationships

where customers fail to provide required verification information or documentation.

15. Employee Compliance and Training

ABCM Connect maintains internal controls and compliance procedures designed to support effective AML and KYC compliance.

Employees involved in compliance functions receive appropriate training regarding:

• Customer identification procedures
• Suspicious activity detection
• Regulatory obligations
• Financial crime prevention

16. Policy Updates

We may update this KYC/AML Policy from time to time to reflect:

• Changes in laws and regulations
• Industry best practices
• Business operations
• Compliance requirements

Updated versions will be published on our website and become effective upon publication.

17. Contact Information

For questions regarding this KYC/AML Policy, please contact:

ABCM Connect
A Trademark of ABCM Business Technology Ltd

Email: support@abcmconnect.com
Phone: +234 816 362 0828
Website: https://abcmconnect.com

By using ABCM Connect services, you acknowledge that you have read, understood, and agreed to this KYC/AML Policy.