At Nice Global Store, we are committed to maintaining the highest standards of integrity and security in all our operations. This Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy is designed to prevent fraudulent activities, identity theft, money laundering, and the financing of illegal activities.
We comply with applicable laws and regulations regarding KYC and AML, ensuring that our platform is safe and secure for all customers.
Purpose of the KYC/AML Policy
The purpose of this policy is to:
Verify the identity of customers to prevent fraudulent transactions.
Detect and report suspicious activities related to money laundering or financial crimes.
Ensure compliance with local and international AML regulations.
Protect Nice Global Store and its customers from financial crimes and illicit activities.
KYC (Know Your Customer) Procedures
To ensure compliance with regulatory requirements, Nice Global Store may request identity verification from customers in certain situations.
3.1 Customer Identification Process
Before processing high-value transactions, withdrawals, or orders flagged as suspicious, we may require customers to provide:
Full Name
Date of Birth
Valid Government-Issued ID (e.g., Passport, Driver’s License, National ID Card)
Proof of Address (e.g., Utility Bill, Bank Statement not older than 3 months)
Phone Number & Email Address Verification
Customers may be required to upload these documents through a secure portal.
3.2 Enhanced Due Diligence (EDD)
For higher-risk customers, we may conduct Enhanced Due Diligence (EDD), which includes:
Additional verification steps such as a live selfie check or video call verification.
Additional proof of income/funds for large transactions.
Background checks on politically exposed persons (PEPs) or customers from high-risk countries.
AML (Anti-Money Laundering) Compliance
Nice Global Store actively monitors transactions to prevent and detect suspicious activities related to money laundering.
4.1 Transaction Monitoring
We track transactions based on:
Unusual Order Patterns: Large purchases or repeated high-value transactions.
Rapid Multiple Transactions: Several transactions within a short time frame.
High-Risk Payment Methods: Use of anonymous or untraceable payment methods.
Transactions from High-Risk Locations: Orders from countries flagged for money laundering risks.
4.2 Reporting Suspicious Activities
If we identify a suspicious transaction, we will:
Conduct an internal review.
Temporarily suspend the transaction for further investigation.
Report any suspicious activity to the relevant authorities as required by law.
4.3 Prohibited Activities
Nice Global Store strictly prohibits:
Using our platform for money laundering or fraudulent activities.
Transactions that involve illegal goods, terrorism financing, or sanctioned entities.
Using stolen payment information or false identities.
Accounts found violating these rules will be immediately suspended or terminated, and law enforcement may be notified.
Compliance with Global Regulations
We comply with AML and KYC regulations in various jurisdictions, including but not limited to:
Financial Action Task Force (FATF) Recommendations
USA PATRIOT Act (for U.S. transactions)
EU Anti-Money Laundering Directives (AMLDs)
Other relevant international regulations
Customers using our platform must ensure that their activities comply with the legal requirements in their country.
Data Privacy & Protection
We take customer privacy seriously and ensure that all collected data is:
Stored securely using encryption and access controls.
Used only for KYC/AML verification and compliance purposes.
Not shared with third parties, except as required by law.
For more details, refer to our Privacy Policy.
Customer Responsibilities
As a customer of Nice Global Store, you agree to:
Provide accurate and up-to-date information for identity verification.
Use only legitimate payment methods registered in your name.
Avoid engaging in fraudulent, illegal, or suspicious activities.
Failure to comply may result in account suspension or termination.
Policy Updates
We may update this policy periodically to align with new regulations and best practices. Customers will be notified of any significant changes.
Contact Us
For any questions regarding this KYC/AML Policy, please contact us:
Email: Mary@gmail.com
Phone no: 2348141156316
Address:No 1, mrs odelade taiwo pastor Building, grammar school road,Ido osun, nigeria
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
