1. Our commitment
Wirepoint Limited is committed to operating responsibly and in accordance with applicable Nigerian anti-money-laundering (AML) and counter-terrorist-financing (CFT) laws, including the Money Laundering (Prevention and Prohibition) Act 2022 and the regulations and guidelines of the Central Bank of Nigeria (CBN). Wirepoint Limited has received Approval-in-Principle from the CBN to operate as an International Money Transfer Operator (IMTO). This statement describes our approach. It is a summary for customers and is not a substitute for our internal policies.
2. Know Your Customer (KYC)
Every customer completes identity verification before transacting. We apply a tiered, risk-based approach:
- Tier 1 (required at sign-up) — first name, last name, gender, date of birth, and Bank Verification Number (BVN).
- Tier 2 — a government-issued ID and a selfie or liveness check, required to unlock higher limits and additional features.
- Tier 3 — proof of address, required to unlock a personal-name USD account.
We may request additional information or documentation at any time as part of ongoing due diligence.
3. Anti-money-laundering and counter-terrorist-financing
We maintain an AML/CFT program designed to detect and prevent the use of the Service for money laundering, terrorist financing, or other financial crime. It includes customer due diligence, risk assessment, transaction monitoring, and staff awareness.
4. Sanctions screening
We screen customers and transactions against applicable sanctions and watchlists. We do not provide services to sanctioned individuals or entities, or where doing so would breach applicable law.
5. Transaction monitoring and reporting
We monitor activity for unusual or suspicious patterns. Where required, we report suspicious activity to the relevant authorities and may delay, decline, freeze, or reverse a transaction, or restrict an account, to meet our legal obligations. We may be prohibited by law from telling you when such a report has been made.
6. Source of funds
We may ask you to explain or evidence the source of funds for a deposit. Providing accurate information helps us process your settlement and meet our obligations.
7. Record keeping
We retain customer identification, verification, and transaction records for the period required by applicable law, even after an account is closed.
8. Prohibited and restricted activity
The Service may not be used for any unlawful purpose, including money laundering, fraud, terrorist financing, sanctions evasion, or transacting on behalf of an undisclosed third party. See our Terms of Service for the full acceptable-use rules.
9. Reporting a concern
If you have a compliance concern or suspect misuse of the Service, contact our compliance team at compliance@wirepoint.app.
10. Updates
We review and update this statement as our practices and the regulatory environment evolve. The "Last updated" date above reflects the most recent revision.