Anti-Money Laundering (AML) Policy

1. Our Commitment to Combating Financial Crime

At Waza, we are committed to maintaining the highest standards of integrity, transparency, and security. As part of our dedication to preventing financial crime, Waza has implemented a robust Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Program. We take all necessary steps to detect and prevent the misuse of our services for money laundering, terrorist financing, fraud, or other illegal activities.

2. What is Money Laundering?

Money laundering is the process of concealing the origins of illegally obtained funds so that they appear legitimate. This often involves moving money through multiple accounts, entities, or countries to disguise its source.

3. How Waza Fights Financial Crime

Our AML Program is designed in accordance with applicable global and regional regulations, including but not limited to:

  • Nigerian Financial Intelligence Unit (NFIU) regulations
  • Financial Action Task Force (FATF) Recommendations
  • UK Money Laundering Regulations
  • United States Bank Secrecy Act and the USA PATRIOT Act
  • Relevant laws in all jurisdictions where we operate

We apply a risk-based approach and maintain ongoing oversight of customer activity.

4. Key AML Measures We Take

4.1. Customer Due Diligence (CDD) and Know Your Customer (KYC)

We verify the identity of all users, including individuals and businesses, using secure onboarding tools. This includes:

  • ID verification (e.g., passport, national ID)
  • Proof of address
  • Business registration documents (for entities)
  • Ongoing verification when risk levels change

4.2. Transaction Monitoring

All transactions processed through our platform are monitored for suspicious behavior. We use automated tools to identify unusual patterns or activities that may indicate money laundering or fraud.

4.3. Reporting Suspicious Activities

Waza is legally required to report suspicious transactions to relevant authorities such as the NFIU, UK National Crime Agency (NCA), or the U.S. Financial Crimes Enforcement Network (FinCEN), depending on the jurisdiction involved.

4.4. Sanctions and Watchlist Screening

We screen all users and transactions against global sanctions lists, including those issued by:

  • United Nations
  • European Union
  • Office of Foreign Assets Control (OFAC)
  • HM Treasury

4.5. Employee Training

All Waza staff receive regular AML and financial crime training to ensure awareness and compliance across our operations.

5. Our Responsibility – and Yours

We believe in working together to build a safe financial system. If you notice any suspicious activity or believe your account has been compromised, please contact us immediately at compliance@waza.co.

By using Waza's services, you agree to comply with our AML requirements and cooperate with any necessary verification requests.

6. Updates to This Policy

This policy may be updated from time to time to reflect changes in law or regulation, or to strengthen our controls. Any updates will be posted here with a revised effective date.

7. Contact Us

For questions or concerns about this AML Policy, please contact:
📧 compliance@waza.co