Money laundering is the process of converting illicitly obtained funds into assets that appear legitimate. Before laundering, proceeds of crime are difficult to use without raising suspicion from law enforcement agencies. Anti-money laundering measures are designed to detect and prevent such activities. Slimepay aligns with international best practices and local regulations to maintain the integrity of its platform and safeguard its users.
At Slimepay, we maintain a professional and serious approach to our compliance-related obligations. These obligations include customer onboarding, anti-money laundering (AML), countering the financing of terrorism (CFT), anti-bribery and anti-corruption, sanctions screening, and fraud prevention.
Our compliance program is designed to comply with all applicable and global laws and regulations, as well as the laws of the countries in which we operate.
To ensure adherence to these standards, Slimepay has implemented the following measures:
We have appointed a Chief Anti-Money Laundering Officer to oversee the AML/KYC team.
We have established comprehensive policies and procedures, which include:
We conduct risk assessments to evaluate potential risks associated with money laundering and terrorist financing.
Our AML/KYC Compliance team undergoes regular and ongoing compliance training.
A two-year effectiveness review of our AML policy is conducted to ensure continued relevance and effectiveness.
Slimepay is committed to implementing procedures and regulations designed to prevent money laundering and terrorism financing. Our primary goal is to ensure that the platform is not used for illegal activities. To achieve this:
All Slimepay customers are required to provide KYC documents when creating accounts.
We securely maintain personal information, communications, and transaction details of our customers.
Suspicious transactions may be held, additional information may be requested, and reports may be submitted to relevant law enforcement agencies.
Customer personal information will not be disclosed to any third party unless ordered by a court of competent jurisdiction in Nigeria.
Slimepay has partnered with industry leaders to enhance its compliance-related efforts. These partnerships include solutions for digital identification verification, blockchain analytics, anti-fraud systems, and compliance with the Financial Action Task Force's (FATF) Travel Rule.
We remain committed to protecting our customers, ensuring compliance, and maintaining trust through our robust AML framework.