Vidaripay Anti-Money Laundering (AML) & Counter-Terrorist Financing (CFT) Policy
At Vidaripay, financial security is a top priority. We are committed to preventing money laundering, terrorist financing, and other financial crimes. Our policies and systems comply with both international and local standards, while remaining practical and clear for our team, users, and partners.
Scope
This policy applies to all Vidaripay employees, users, vendors, and partners. It covers all operations, transactions, and compliance obligations across the regions where Vidaripay operates.
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
Ensure our platform is not used to launder funds or finance terrorism.
Protect Financial System Integrity
Safeguard trust in the financial ecosystem.
Cooperate with Authorities
Fully engage with regulators, law enforcement, and other stakeholders when required.
Transparency
Maintain clear policies and procedures accessible to employees, users, and partners.
Financial Security Standards
Regulatory Compliance
Vidaripay aligns with global and regional standards, including:
International Standards:
- FATF 40 Recommendations
- IMF financial integrity guidelines
- Basel Committee standards
Regional & Local Regulations:
- East Africa: Regional AML/CFT directives
- West Africa: Country-specific laws
- Central Africa & other regions: Complies with all applicable local AML/CFT laws
In other words, Vidaripay not only follows international standards but also adheres to local regulations in every country where it operates.
Regulatory Bodies We Engage With
As part of our AML & CFT commitment, Vidaripay is dedicated to meeting the highest regulatory standards across all jurisdictions where we operate. We maintain active engagement with relevant regulators, including central banks, communications authorities, and data protection agencies, to uphold strict compliance and ensure effective measures against financial crime.
Note: In Rwanda, our operations are aligned with the National Bank of Rwanda (BNR) – Approved correspondence: BNR0600Y2025.
Our goal is to ensure that all transactions are transparent, compliant, and monitored according to both international and local requirements.
Know Your Customer (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:
- Government-issued ID (NIN, Passport, etc.)
- Selfie for identity confirmation
- Proof of address (utility bill, bank statement)
- Additional country-specific requirements
These checks are mandatory for wallet top-ups, currency exchange, transfers, and other core services.
- Compliance with BNR, CBN, RURA, FIC, and other applicable authorities.
- Actively work with regulators, law enforcement, and industry forums to stay updated on best practices and emerging risks.
Monitoring Transactions
We use both automated tools and manual reviews to detect and prevent suspicious behavior, such as:
Our Compliance Team flags and investigates any unusual activity promptly.
Record Keeping
We maintain thorough records to ensure transparency and compliance:
- Customer & Transaction Records: Stored securely for at least five years.
- Audit Trails: Detailed logs of all compliance activities.
- Internal Audits: Regular checks to confirm policy adherence.
Employee Training & Awareness
Our team is trained to identify and respond to AML/CFT risks:
- Training Programs: Regular sessions on AML/CFT laws, internal policies, and practical scenarios.
- Onboarding: New employees complete mandatory compliance training.
- Ongoing Awareness: Staff stay updated on emerging threats and regulatory changes.
- Tracking: Attendance and progress are monitored to ensure knowledge is applied.
Reporting Concerns
If you notice misuse of the Vidaripay platform or other compliance issues:
Contact: compliance@vidaripay.com
- All reports are confidential and handled carefully.
- Internal escalation ensures quick review and resolution.
Policy Review & Updates
We are committed to continuous improvement:
- Annual Reviews: Ensure policies remain effective and aligned with law and industry standards.
- Updates: Reflect regulatory changes, lessons from audits, and internal feedback.
- Stakeholder Feedback: Incorporate input from employees, partners, and regulators.
Summary
Vidaripay’s AML/CFT policy ensures that every transaction is secure, transparent, and compliant. We combine global best practices, local regulatory adherence, and a human-focused approach to maintain trust with our users, partners, and regulators.
Last Updated:September 2025 - This page is updated regularly to reflect new regulations and internal improvements.