AML / CFT Policy
Zyrix is committed to preventing money laundering and the financing of terrorism, and to upholding the integrity of the financial system in every market we serve. This summary describes the principles of our Anti-Money-Laundering and Counter-Financing-of-Terrorism (AML/CFT) program, which aligns with the recommendations of the Financial Action Task Force (FATF) and applicable national laws.
1. Regulatory Framework
Our program is designed to meet the standards of the FATF and the requirements of the jurisdictions in which we and our partners operate, including the U.S. Bank Secrecy Act, Türkiye's Law No. 5549 on the Prevention of Laundering Proceeds of Crime and MASAK regulations, the Saudi Anti-Money-Laundering Law and SAMA rules, and the AML/CFT frameworks of the GCC states.
2. Risk-Based Approach
We assess and manage money-laundering and terrorist-financing risk according to customer type, geography, product, and transaction profile, and we calibrate controls proportionate to the assessed risk.
3. Customer Due Diligence (KYC/KYB)
We verify the identity of merchants and, where applicable, their beneficial owners and controllers before onboarding, using reliable, independent documentation and data. Incomplete or unverifiable applicants are not onboarded.
4. Enhanced Due Diligence
Higher-risk relationships—including those involving politically exposed persons or higher-risk jurisdictions—are subject to enhanced verification, senior-management approval, and closer ongoing scrutiny.
5. Sanctions Screening
We screen customers and counterparties against applicable sanctions and watch lists, including those administered by the United Nations, the United States, the European Union, Türkiye, and Gulf authorities, and we refresh screening on an ongoing basis.
6. Transaction Monitoring
We monitor transactions for unusual or suspicious patterns using automated and manual controls, and we investigate alerts in a timely manner.
7. Suspicious Activity Reporting
Where we identify activity that we know or suspect to be linked to money laundering or terrorist financing, we report to the competent financial intelligence unit as required by law, and we do not "tip off" the subject of a report.
8. Record Keeping
We retain customer, verification, and transaction records for the periods required by applicable law, ensuring they are available to regulators and auditors upon lawful request.
9. Prohibited Businesses
We do not knowingly serve businesses engaged in unlawful activity, sanctioned trade, or other categories prohibited by law, card-network rules, or our risk policies.
10. Governance, Training, and Contact
Our program is overseen by a designated compliance function and supported by ongoing staff training. Inquiries from regulators or partners may be addressed to compliance@zyrix.co.