Anti-Money Laundering (AML)

What is AML?

Anti-Money Laundering (AML) refers to the laws, regulations, and procedures designed to stop criminals from disguising illegally obtained funds as legitimate income. At Zephyr Pay, we have robust AML policies that help prevent our services from being used for money laundering, terrorist financing, or other financial crimes.

Our AML Program

Our comprehensive AML program includes:

• Risk Assessment: Regular evaluation of our services and customer relationships to identify and mitigate potential AML risks.
• Customer Due Diligence: Thorough verification procedures to ensure we know who our customers are and understand their normal transaction patterns.
• Transaction Monitoring: Advanced systems to detect suspicious activities or transactions that could indicate money laundering.
• Record Keeping: Maintaining comprehensive records of all transactions and customer identification data for regulatory compliance.
• Staff Training: Regular training for all employees on AML regulations and how to identify suspicious activities.
• Regulatory Reporting: Timely reporting of suspicious activities to relevant authorities as required by law.

Compliance with Global Standards

Zephyr Pay complies with international AML standards, including recommendations from the Financial Action Task Force (FATF) and local regulations in all jurisdictions where we operate. Our AML program is regularly updated to reflect the evolving regulatory landscape and emerging financial crime risks.

Our Expectations from Customers

As part of our AML compliance efforts, we expect our customers to:

• Provide accurate and complete information during the onboarding process
• Update personal or business information promptly when changes occur
• Respond to any additional information requests in a timely manner
• Understand that certain transactions may require additional verification
• Be aware that transactions to high-risk jurisdictions may be subject to enhanced scrutiny

Commitment to Security and Compliance

At Zephyr Pay, we believe that strong AML practices are essential for maintaining the integrity of the global financial system. We are committed to preventing financial crime while providing efficient, reliable services to our legitimate customers. Our robust AML program helps us achieve both objectives, protecting our customers and the wider financial ecosystem.