Anti-Money Laundering (AML) & Counter-Terrorist Financing (CFT) Commitment

Last Updated: July, 2025

At Vidaripay, we take financial security seriously. We're committed to fighting money laundering, terrorist financing, and all forms of financial crime. Our systems are designed to meet both local and international standards, and we're continuously improving them to ensure transparency, trust, and compliance across all regions we serve.

Financial Security Standards

Local Compliance

Meeting regional regulatory requirements

International Standards

Following global best practices

Continuous Improvement

Regular system updates and enhancements

Transparency

Clear policies and procedures

Last Updated: July 2025 - This page will be updated regularly to reflect new regulations and internal improvements.

Our Commitment

Vidaripay strictly prohibits the use of its platform for any illegal or unethical activity. We're here to:

Prevent Money Laundering & Terrorist Financing

Prevent the use of our services for laundering money or financing terrorism

Protect Financial System Integrity

Protect the integrity of the financial system

Cooperate with Authorities

Fully cooperate with regulators and law enforcement whenever necessary

Regulatory Engagement

At Vidaripay, we are committed to operating in alignment with evolving compliance standards across all markets we serve. We are actively engaging with the following regulatory bodies:

National Bank of Rwanda (BNR)

Status: Approved correspondence under reference BNRO600Y2025

Rwanda Utilities Regulatory Authority (RURA)

Status: Application in progress

Central Bank of Nigeria (CBN)

Status: Preparing for engagement

Nigerian Communications Commission (NCC)

Status: Application in process

Verifying Users (KYC)

Before any user can access core features on Vidaripay, we run thorough Know Your Customer (KYC) checks to ensure they are who they say they are. Our KYC process includes:

Valid government-issued ID (e.g. NIN, Passport)

Selfie for identity confirmation

Proof of address (e.g. utility bill or bank statement)

Additional country-specific requirements based on local regulations

These checks are mandatory for accessing services like wallet top-ups, currency exchange, and transfers.

Monitoring Transactions

We use both automated tools and manual reviews to detect and prevent suspicious behavior, such as:

Irregular transaction volumes or patterns

Unusually large or rapid fund movements

Links to high-risk jurisdictions

Attempts to bypass regulatory thresholds

Our Compliance Team flags and investigates any unusual activity promptly.

Reporting Obligations

As a regulated platform, Vidaripay fulfills all reporting duties under applicable laws. This includes:

Suspicious Transaction Reports (STRs)

Submitting STRs where required by regulatory authorities

CBN AML/CFT Compliance

Staying compliant with Nigeria's CBN AML/CFT laws

RURA & FIC Cooperation

Working with RURA and the Financial Intelligence Centre (FIC) in Rwanda

Record Maintenance

Maintaining clear records of user activity and transaction data

Raise a Concern or Report a Violation

If you suspect misuse of the Vidaripay platform or have any compliance concerns, we want to hear from you. Reach out to our Compliance Team:

Compliance Team Contact:

compliance@vidaripay.com

Confidentiality: All reports are treated with confidentiality and handled with care.

Last updated: July 2025
This page will be updated regularly to reflect new regulations and internal improvements.