AML Regulations

VukaPay AML Compliance Policy

Introduction and Purpose

Vuka Pay Limited is committed to maintaining an effective, risk-based compliance program designed to safeguard its payment infrastructure from money laundering, terrorist financing, proliferation financing, fraud, sanctions evasion, and other unlawful financial activities.

We recognise that strong compliance is not merely a regulatory obligation, but an essential part of protecting our customers, partners, regulators, and the wider financial ecosystem.

This Policy forms an integral part of Vuka Pay Limited’s Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and Counter-Proliferation Financing (CPF) framework and is binding upon all employees, management, contractors, and designated agents.

Vuka Pay Limited remains committed to complying with recognised international AML/CFT/CPF standards, including the Financial Action Task Force (FATF) Recommendations, as well as applicable regulations and guidance issued by the Central Bank of Kenya (CBK), the Financial Reporting Centre (FRC), and other relevant regulatory authorities.

This includes compliance with the applicable legal and supervisory framework, including but not limited to:

• The Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) – Kenya

• The National Payment System Act, 2011

• The National Payment System Regulations

• The Prevention of Terrorism Act (POTA)

Vuka Pay Limited applies robust Customer Due Diligence (CDD), Know Your Customer (KYC), and Know Your Business (KYB) measures. We also conduct sanctions screening, Politically Exposed Person (PEP) screening, adverse media checks, and ongoing customer monitoring throughout the customer lifecycle.

In addition, we verify Ultimate Beneficial Owners (UBOs) where applicable. Vuka Pay Limited does not engage with anonymous persons, fictitious identities, sanctioned individuals or entities, prohibited businesses, shell companies, or parties whose activities cannot reasonably be verified as lawful.

This Policy forms part of Vuka Pay Limited’s broader governance and internal control framework. It guides our approach to:

• Customer onboarding

• Transaction monitoring

• Suspicious activity detection and reporting

• Regulatory reporting to the Financial Reporting Centre (FRC)

• Record keeping

• Staff training and awareness

• Independent compliance testing

• Continuous monitoring and improvement

This Policy is implemented and overseen by the Risk and Compliance Department and is reviewed at least annually, or whenever required by regulatory developments, internal audits, or operational changes, to ensure that it remains effective and up to date.

Vuka Pay Limited maintains a strict zero-tolerance approach toward money laundering, terrorist financing, proliferation financing, fraud, sanctions violations, and other forms of financial crime. Any suspicious activity identified through our systems or operations may result in enhanced due diligence, transaction restrictions, account suspension, regulatory reporting, or termination of business relationships where necessary.

Contact Information

For AML/CFT inquiries:

Email: support@vukapay.com
Address: Nairobi, Kenya