KYC (Know Your Customer) is the mandatory norm and is practiced for submitting the important
details about your customer. This helps in verifying their identity and ensures businesses that they
are working with genuine people.
Basically, while the process of KYC the information asked from the customers include complete name, verified address, email-id, nationality and other necessary details.
WebPays as a Global Merchant Service Provider, dedicated to compliance will all regulatory laws and
rules regarding KYC and Anti-Money Laundering ("AML").
We apply the policy practically to prevent people who are engaged in money laundering, financial scams, fraud and other prohibited financial activities. The significance of KYC is done for following reasons,
WebPays ensures to make this KYC process convenient and transparent. We do not bother our clients by asking other irrelevant documents, we just require the essential papers for onboarding. Our system is user friendly and so clients can easily send and upload the KYC documents for verification.
KYC is the process for verifying and confirming the identity of the client through autonomous and independent reports, information or data. To validate the identity of the client.
KYC is the major business authentication module; this is why it is important for every merchant to
display appropriate and proper information. Along with that, it also let WebPays safeguard
Anti-Money Laundering and other global monetary prescribed procedures as per the law.
WebPays holds a worldwide reputation as a PSP, and is thoroughly concerned to conduct the verification of our clients to make sure they are not involved in any Anti-Money Laundering activities and other prohibited acts. Our testimony includes the following documentation,
Additionally, we hold the position to perform the overhauled due diligence on all clients given world-wide approved risk based policies of action and as requested by Sections 3 (6) and (7) of the Anti Money Laundering Act 2011.
WebPays in like manner have all rights to dismiss a transaction or deny operation on a client or account whenever the question arises that it may be related with illegal tax avoidance or money laundering, illegal act or some other predicate offense to tax evasion. WebPays won't go into any business strategy with anyone or social event related with or directly connected with money laundering, or where finance has been sourced.
In the event that WebPays gets, during its solicitation for documentation, deluding documentation, contact details, business delineation or other inappropriate information, WebPays will suspend the culpable account.
WebPays as a genuine organization is legally bounded to report such activities and business to the concerned authorities, for instance, the Economic and Financial Crimes Commission (EFCC) and the Special Fraud Unit (SFU), and as such the subject, business and its owners may be the subject of a criminal investigation.
In like manner, if WebPays monitor, with respect to any account, the occasion of explicit triggers or red flags (Indicators) which are expressive of engendering of blackmail, fake or tax avoidance works out, WebPays will put a lien on such a account and the benefits in that contained. WebPays is truly bound under Section 6 of the Anti-Money Laundering Act 2011, to report the equivalent to the Economic and Financial Crimes Commission (EFCC) and the Financial Intelligence Unit (FIU).
*Indicators are recognizable events that feature the opportunity of unequivocal activities occurring*
WebPays have the rights for,