AML Policy
Last updated: August 23, 2026
Our commitment
iFAMED is committed to preventing the use of our platform for money laundering, terrorist financing, or other financial crime, in line with the Money Laundering (Prevention and Prohibition) Act 2022 and the Central Bank of Nigeria's AML/CFT/CPF Regulations.
Customer due diligence
Every customer is identity-verified before they can trade or withdraw — see our KYC Policy. Accounts showing higher-risk activity may be asked for additional verification before further transactions are processed.
Transaction monitoring
We monitor transactions for patterns consistent with fraud, money laundering, or sanctions evasion, including device and IP-based risk signals on gift card and crypto trades. Accounts or transactions flagged by this monitoring may be paused pending review.
Reporting
Where required by law, we report suspicious transactions to the Nigerian Financial Intelligence Unit (NFIU) and cooperate with lawful requests from Nigerian regulatory and law enforcement authorities — see our Law Enforcement Requests page.
Record keeping
Identity and transaction records are retained for the period required by applicable Nigerian regulation, even after an account is closed — see our Delete Your Account page.