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AML/CFT Policy

Anti-Money Laundering & Counter-Terrorism Financing Compliance

Policy Overview

wigope is committed to maintaining the highest standards of compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations. This policy outlines our comprehensive approach to preventing financial crimes and ensuring the integrity of our payment ecosystem.

We operate in strict compliance with applicable laws and regulations, including the Prevention of Money Laundering Act (PMLA), 2002, and guidelines issued by the Reserve Bank of India (RBI).

Regulatory Framework

📋 Primary Regulations

  • • Prevention of Money Laundering Act, 2002
  • • RBI Master Direction on KYC
  • • PMLA Rules, 2005
  • • FATF Recommendations
  • • RBI Guidelines on Payment Aggregators

🏛️ Regulatory Bodies

  • • Reserve Bank of India (RBI)
  • • Financial Intelligence Unit (FIU)
  • • Enforcement Directorate (ED)
  • • Ministry of Finance
  • • SEBI (for securities-related activities)

Risk-Based Approach

🔴 High-Risk Categories

  • • Politically Exposed Persons (PEPs)
  • • High-value transactions
  • • Cross-border transactions
  • • New business relationships
  • • Complex transaction structures
  • • High-risk jurisdictions

🟡 Medium-Risk Categories

  • • Regular business transactions
  • • Established merchant relationships
  • • Domestic transactions
  • • Standard KYC verified accounts

🟢 Low-Risk Categories

  • • Government entities
  • • Regulated financial institutions
  • • Listed companies
  • • Small-value transactions

Customer Due Diligence (CDD)

1

Simplified CDD

Basic verification for low-risk customers with minimal documentation requirements

2

Standard CDD

Comprehensive verification including identity, address, and business details

3

Enhanced CDD

Enhanced verification for high-risk customers with additional monitoring

Required Documentation

Individual Customers

  • • PAN Card
  • • Aadhaar Card
  • • Address proof
  • • Recent photograph
  • • Bank account details

Business Customers

  • • Certificate of Incorporation
  • • PAN Card
  • • GST Registration
  • • Board Resolution
  • • Authorized signatory details

Transaction Monitoring

Automated Monitoring Systems

  • • Real-time transaction screening
  • • Pattern recognition algorithms
  • • Threshold-based alerts
  • • Geographic risk assessment
  • • Behavioral analysis

Suspicious Transaction Indicators

  • • Unusual transaction patterns
  • • High-value transactions
  • • Multiple small transactions
  • • Transactions with high-risk jurisdictions
  • • Rapid movement of funds
  • • Transactions inconsistent with business profile

Reporting Requirements

  • • Suspicious Transaction Reports (STRs)
  • • Cash Transaction Reports (CTRs)
  • • Annual compliance reports
  • • Risk assessment reports
  • • Audit trail maintenance

Record Keeping

Documentation Retention

Customer Records

  • • KYC documents: 5 years after account closure
  • • Transaction records: 5 years
  • • Due diligence reports: 5 years
  • • Risk assessment: 5 years

Compliance Records

  • • STRs: 5 years
  • • Training records: 3 years
  • • Audit reports: 5 years
  • • Policy updates: Permanent

Training and Awareness

🎓 Employee Training

  • • Annual AML/CFT training programs
  • • Role-specific training modules
  • • Regulatory updates and changes
  • • Case studies and scenarios
  • • Assessment and certification

📢 Awareness Programs

  • • Customer awareness campaigns
  • • Merchant education programs
  • • Industry collaboration
  • • Best practice sharing
  • • Regulatory guidance

Policy Update

We reserve the right to modify these Privacy at any time. Changes will be effective immediately upon posting on our website. Your continued use of our Services after such changes constitutes acceptance of the modified Terms.

Last Updated

These Terms of Service were last updated on 02 January 2026