1. Definitions

1. 1.1 'KYC' (Know Your Customer): A process by which we verify a User’s identity and assess risk before allowing ongoing access to our Services.
2. 1.2 'AML' (Anti-Money Laundering): Legal and regulatory frameworks to detect and deter unlawful financial activities, including money laundering and terrorist financing.
3. 1.3 'User' or 'you': Individuals or entities accessing or using Paycio Services.
4. 1.4 'Platform' or 'Services': Paycio’s websites, mobile apps, APIs, and related service offerings.
5. 1.5 'Third-Party KYC Vendors': External service providers Paycio uses for identity verification and compliance checks.

2. Regulatory Compliance Overview

2.1 Paycio complies with the AML/CTF and sanctions obligations of relevant jurisdictions, including but not limited to the UAE, India, the EU, the UK, the United States, and any region where we operate or to which our services are directed.

2.2 All personal data collected and processed under this Policy is handled in accordance with our Privacy Policy and Data Processing Agreement, both of which reflect applicable data protection laws.

3. KYC Process

3.1 Initial Onboarding

• Registration: To create an account on Paycio, you must provide accurate personal information, including (where required) your name, phone number, email, and any additional data requested.
• Tiered Verification: Depending on your jurisdiction, transaction limits, or risk profile, we may require you to complete additional verification steps (e.g., submitting a government-issued ID, proof of address, or providing biometric data).

3.2 Use of Third-Party Providers

• We use approved KYC service providers to validate your identity and documents.
• We share relevant personal details (e.g., name, DOB, ID copies) with these providers strictly for identity verification. See our Privacy Policy and Sub-Processors List for more information on how they handle your data.

3.3 Ongoing Monitoring

• We may periodically request updated documents or additional verification.
• Activity that appears unusual or high-risk may result in additional due diligence or temporary account restrictions.

4. AML Measures

4.1 Transaction Monitoring

• We employ systems to monitor transactions, detect suspicious activities, and identify patterns indicative of money laundering, terrorist financing, or other financial crimes.
• High-risk or abnormal transactions may be paused, investigated, or reported to relevant authorities.

4.2 Suspicious Activity Reporting (SAR)

In line with legal obligations, we may file suspicious transaction or activity reports with government/regulatory agencies. We may be prohibited from disclosing the existence of such reports to impacted Users.

4.3 Sanctions & Restricted Jurisdictions

• Paycio may restrict or prohibit Services in jurisdictions subject to trade sanctions or embargoes.
• We do not support transactions involving sanctioned individuals, entities, or countries identified by applicable sanctions programs (e.g., OFAC, UN, EU, etc.).

4.4 Prohibited Activities

As outlined in our Acceptable Use Policy, we forbid activities intended to conceal illicit funds, evade detection, or violate any AML/CTF law.

5. Enforcement Actions

5.1 Account Freezes & Holds

If we identify or suspect a breach of this Policy or other suspicious activity, we may place holds on your account or limit your transactions while conducting an investigation.

5.2 Account Termination

Repeated or serious violations of this Policy (including refusal to complete required KYC steps) may lead to permanent account closure.

5.3 Data Retention

We retain KYC and transactional data as required by law for a minimum period (e.g., 5 years or local statutory requirements). Even after account closure, some data may be retained for compliance or legal obligations.

6. User Responsibilities

1. 6.1 You must provide true, current, and complete information during registration and any subsequent verification. Using forged, stolen, or fraudulent IDs is strictly prohibited.
2. 6.2 You must ensure that any crypto or fiat you use on Paycio is derived from lawful sources and not from illicit or criminal activities.
3. 6.3 Promptly respond to any additional information or documentation requests. Failure to do so may limit your access to certain features or result in account suspension.

7. Data Protection & Privacy

Personal Data collected under this Policy is processed solely for compliance, fraud prevention, and security purposes, in line with our Privacy Policy and DPA.

8. Amendments & Updates

We may modify this Policy from time to time to reflect changes in legal obligations or our internal processes. If material changes occur, we will notify you via email or by posting a notice on our Services. Continued use after updates become effective constitutes acceptance of the revised Policy.

9. Contact Information

For questions, concerns, or assistance with KYC/AML matters, please contact Paycio at:

• Email: [email protected]
• Mailing Address:

  PAYCIOGLOBAL – FZCO Dubai Digital Park, Building A1 Dubai Silicon Oasis, Dubai, UAE, 341041