AML/KYC Policy

1. Introduction

The Anti-Money Laundering and Know Your Customer Policy for LibanPay aims to prevent and mitigate potential risks associated with illegal activities such as money laundering, terrorist financing, fraud, corruption, and other financial crimes.

2. Purpose

LibanPay strictly adheres to international and local regulations to prevent the misuse of our platform for any illegal financial transactions. We ensure a secure environment for users by complying with global standards in AML and KYC practices.

3. Customer Verification (KYC)

LibanPay may request user verification under specific circumstances, such as large transactions, suspicious activities, or as required by regulations. When verification is required, the following documents may be requested:

• Valid government-issued identification (National ID, Passport)
• Proof of residential address (utility bills, bank statements)
• Proof of source of funds (bank statements, employment records)
• Photo identification clearly showing user details
• Video verification where necessary to confirm identity

Verification is not mandatory for all users upon registration but may be required as described above.

4. Transaction Monitoring

LibanPay continuously monitors user transactions to detect and prevent suspicious activities:

• Checking users against recognized global sanction and watch lists
• Transaction behavior analysis to detect irregular patterns
• Detailed transaction documentation and record-keeping
• Implementing daily review and risk assessments

5. Action on Suspicious Transactions

Upon identifying suspicious activities, LibanPay reserves the right to:

• Suspend or terminate user transactions or accounts
• Request additional documentation and information from the user
• Report suspicious transactions to appropriate authorities
• Conduct thorough internal investigations as necessary

6. User Responsibilities

Users of LibanPay must:

• Provide accurate and truthful information when verification is requested
• Not use anonymous connections such as proxy servers, VPN, or TOR
• Ensure transactions are conducted only by themselves and not on behalf of third parties

7. Cautionary Statement

LibanPay explicitly advises users against utilizing our services for illegal activities including money laundering, terrorism financing, fraud, and purchasing prohibited goods or services. LibanPay shall not be held responsible for misuse by third parties or related damages.

8. Compliance

By using the LibanPay platform, users explicitly agree to comply with all elements of this AML/KYC Policy. LibanPay will diligently enforce these regulations to provide secure, compliant financial services to all users.