Anti-Money Laundering (AML) Policy

Digitsend is dedicated to combating money laundering and fully adhering to Anti-Money Laundering (AML) laws in Nigeria. We recognize our role in the global fight against financial crime and prioritize this commitment above all other privacy obligations. We will implement all necessary measures to prevent money laundering, fraud, and financial crimes. Our AML policies, procedures, and internal controls comply with applicable regulations and will be regularly reviewed and updated to align with regulatory changes and our evolving business needs.

Digitsend, a product of Crewel Technologies Limited, is committed to the highest standards of anti-money laundering (AML) compliance. This policy outlines the measures and procedures we have implemented to detect, prevent, and report any activities that may be related to money laundering, terrorist financing, or other forms of financial crime.

This policy is in compliance with all relevant laws and regulations

The purpose of the AML policy

Ensure that Digitsend is not used as a channel for money laundering or terrorist financing.

Protect the integrity of Digitsend by preventing, detecting, and reporting any suspicious activities.

Comply with all applicable AML regulations and standards.

Protect the business from legal and reputational risks associated with money laundering.

This policy applies to all Digitsend operations including:

All employees and contractors.

All products and services offered by Digitsend.

All customers, partners, and stakeholders who interact with Digitsend.

Definition

Money Laundering: The process of making illegally obtained money appear legitimate by disguising its origins.

Terrorist Financing: The use of legally or illegally obtained money to fund terrorist activities.

Customer Due Diligence (CDD): The process of identifying and verifying the identity of customers to ensure they are not involved in criminal activities.

Customer Due Diligence (CDD)

Digitsend will conduct thorough customer due diligence (CDD) at the onboarding stage and throughout the business relationship. This includes:

Identification and Verification: Collecting and verifying personal information, such as name, date of birth, address, and government-issued identification (e.g., BVN, NIN).

Risk Assessment: Assessing the risk profile of each customer based on factors such as transaction patterns, geographic location, and source of funds.

Enhanced Due Diligence (EDD): Applying additional scrutiny to high-risk customers,

Transaction Monitoring

Digitsend will employ advanced transaction monitoring systems to detect and report suspicious activities, such as:

Unusual Transaction Patterns: Transactions that do not match a customer’s usual behavior or exceed predetermined thresholds.

Layering: Attempts to obscure the origins of funds through multiple transactions.

High-Risk Transactions: Transactions involving high-risk countries, industries, or individuals.

All suspicious activities will be reported to the relevant authorities as required by law.

Record keeping

Digitsend will maintain detailed records of all customer transactions, identification documents, and communications for at least 2 years after the end of the business relationship. These records will be made available to regulatory authorities upon request.

Reporting Obligations

Digitsend will comply with all statutory reporting obligations, including:

Suspicious Transaction Reports (STRs): Reporting any suspicious activities to the Nigerian Financial Intelligence Unit (NFIU) or other relevant authorities.

Ongoing Compliance: Ensuring that all employees are aware of and comply with AML obligations.

Employee Training and Awareness

Digitsend is committed to ensuring that all employees are well-versed in AML requirements and procedures. This will be achieved through:

Regular Training: Ongoing AML training sessions for all staff members to keep them updated on the latest regulatory changes and risk factors.

Awareness Programs: Initiatives to promote a culture of compliance and ethical behavior within the organization.

Internal Control and Audit

Digitsend will implement robust internal controls to ensure compliance with this AML policy, including:

Compliance Officer: Appointment of a designated AML Compliance Officer responsible for overseeing the implementation of this policy and ensuring adherence to all relevant regulations.

Cooperation with Authorities

Digitsend will fully cooperate with regulatory bodies and law enforcement agencies in the investigation of any suspected money laundering or terrorist financing activities.

Policy Review

This AML policy will be reviewed and updated regularly to ensure its continued effectiveness and compliance with applicable laws and regulations.

Conclusion

Digitsend is committed to maintaining the highest standards of integrity and transparency. We believe that our rigorous approach to anti-money laundering is essential in safeguarding the trust of our customers, partners, and stakeholders.

For further inquiries or to report suspicious activity, please contact our Compliance Officer at: admin@creweltechnologies.com