ZebPay aims to prevent, detect and not knowingly facilitate money-laundering, terrorism financing and/or any other criminal activities. ZebPay does this to comply with relevant laws, have transparency in trading activities and to be a good corporate citizen. In pursuance to the foregoing, ZebPay collects certain relevant User identification information and documents for opening of Client Asset Account and for monitoring transactions.
This Anti-Money Laundering Policy ("AML Policy") describes the ZebPay's policies and procedures instituted to ensure that the ZebPay Platform or ZebPay Services are not being used by the Users to facilitate money laundering or terrorism financing or any other criminal activities, including but not limited to those under the Prevention of Money Laundering Act, 2002 and the Notifications and Rules thereunder (“PMLA”).
The terms "We", "Our", "Company" and "Us" refer to ZebPay, and the terms "User", "You" and "Your" refer to a User of our ZebPay Platforms.
The purpose of this AML Policy is to:
KYC is the guiding principle behind the Anti-Money Laundering (AML) measures. ZebPay aims to have in place adequate policies, practices and procedures that promote high ethical and professional standards and prevent the ZebPay Platform or availing the ZebPay Services from being used, intentionally or unintentionally, for money laundering purposes. KYC of a User enables ZebPay to know/ understand its Users and their financial dealings better which in turn will help ZebPay to manage its risks prudently.
The main aspect of this AML policy is the User due diligence process which means:
ZebPay ensures the availability of a Compliance Officer at all times. The Compliance Officer is responsible for managing the day-to-day operations of this AML Policy. This includes, but is not limited to:
ZebPay is fully committed to establish appropriate policies and procedures for ensuring effectiveness and compliance with respect to all relevant legal requirements.
We implement ongoing employee training programmes so that ZebPay’s staff is completely aware of the provisions of the PMLA and guidelines and amendments thereof. These training programmes focus on frontline staff, back office staff, compliance staff, risk management staff and staff dealing with customers. It is very crucial that all those concerned fully understand the rationale behind these guidelines, obligations and requirements, implement them consistently and are sensitive to the risks of their systems being potentially misused by unscrupulous elements, if there is any lapse on their part.