AML Policy

Anti-Money Laundering (AML) Policy

Ora is committed to preventing money laundering and the financing of terrorism. This AML Policy outlines the measures we take to comply with applicable laws and regulations.

Purpose

The purpose of this policy is to:

• Prevent the use of Ora for money laundering or terrorist financing activities.
• Ensure compliance with legal and regulatory requirements.
• Protect the integrity of our platform and services.

Customer Due Diligence (CDD)

We implement Customer Due Diligence (CDD) measures to verify the identity of our users and assess the risks associated with their transactions. This includes:

• Collecting and verifying user identification information.
• Monitoring transactions for suspicious activity.
• Conducting enhanced due diligence for high-risk users.

Reporting Obligations

We are required to report suspicious transactions to the relevant authorities. This includes:

• Transactions that appear unusual or lack a clear economic purpose.
• Transactions involving high-risk jurisdictions or individuals.

Record Keeping

We maintain records of all transactions and user identification information for a minimum period as required by law. These records are securely stored and accessible only to authorized personnel.

Training and Awareness

Our staff undergo regular training on AML regulations and procedures to ensure compliance and awareness of potential risks.

Compliance Officer

We have appointed a Compliance Officer responsible for overseeing the implementation of this AML Policy and ensuring adherence to regulatory requirements.

Contact Us

If you have any questions or concerns about our AML Policy, please contact us at support@oraapp.ng.