Anti-Money Laundering (AML) Policy

Last updated: 2026-04-01

1. Our Commitment

CrossPay dey committed to preventing money laundering, terrorist financing, and other financial crimes. We comply with the Money Laundering (Prohibition) Act 2011, CBN Anti-Money Laundering regulations, and international standards set by the Financial Action Task Force (FATF).

2. Know Your Customer (KYC)

All users must complete identity verification before dem fit make transfers. We dey verify identity through BVN (Bank Verification Number) and NIN (National Identification Number) checks. Business accounts need extra documentation including CAC registration. We dey apply enhanced due diligence to higher-risk customers and transactions.

3. Transfer Limits by Verification Tier

Transfer limits depend on the verification tier of your account and dem dey reset at midnight West Africa Time. Unverified accounts no fit send or receive funds (₦0 daily, ₦0 monthly). Accounts with verification in progress (KYC pending) dey capped at ₦160,000 per day and ₦800,000 per month. Fully verified accounts (KYC approved) fit transfer up to ₦1,600,000 per day and ₦8,000,000 per month. Accounts with rejected verification no fit transfer funds (₦0 daily, ₦0 monthly). These limits dey apply per user and we dey enforce dem atomically at transfer creation. Higher limits dey available for verified business accounts on request — contact compliance@crosspay.me.

4. Transaction Monitoring

We monitor all transactions for suspicious patterns using automated systems and manual review. Monitoring includes transaction velocity checks, unusual amount patterns, geographic risk assessment, and behavioral analysis. Transactions wey our systems flag are reviewed by our compliance team.

5. Suspicious Activity Reporting

We dey report suspicious transactions to the Nigerian Financial Intelligence Unit (NFIU) as the law require. We no dey allowed to tell customers about reports wey we file (tipping off). We train all employees to recognize and report suspicious activity.

6. Sanctions Compliance

We dey screen all users and beneficiaries against international sanctions lists including UN, OFAC, EU, and Nigerian sanctions lists. We dey block transactions wey involve sanctioned individuals, entities, or jurisdictions. We dey update our screening databases regularly.

7. Record Keeping

We dey keep records of all customer identification documents, transaction details, and compliance decisions for minimum of 7 years as Nigerian law require. We dey store records securely and make dem available to regulators on request.

8. Staff Training

All CrossPay employees dey receive AML/CFT training when dem join and annual refresher training. The training dey cover how to recognize suspicious activity, reporting obligations, and the consequences of non-compliance.

9. Contact

For AML compliance question, contact our Chief Compliance Officer for compliance@crosspay.me.