Welcome to Enetworkspay ("Enetworkspay," "we," "our," "us"). We are committed to protecting your privacy and ensuring a safe and secure user experience. This AML and KYC Policy outlines how we collect, use, disclose, and protect your personal information when you use our website and services (collectively, the "Service"). By using the Service, you consent to the practices described here.
AML and KYC Policy
Enetworkspay is committed to complying with anti-money laundering (AML) and know-your-customer (KYC) regulations to ensure the safety and security of its platform and users. This policy outlines the verification requirements for different levels of KYC on Enetworkspay's website.
Level 1 KYC
Level 1 verification requires users to verify their email and phone number, and set a 4-digit PIN for outbound transactions. This is the basic level of KYC and is mandatory for all users to access and use Enetworkspay's services.
Level 2 KYC
Level 2 verification involves additional steps to strengthen platform security and ensure compliance. Users must verify their regulatory ID against the corresponding system parameter in the regulatory database. For example, Nigerian users must provide their Bank Verification Number (BVN) and National Identification Number (NIN), entering their BVN and validating it via a code sent to their BVN-registered phone number. Similar procedures may apply in other countries.
Users must also set up a two-factor authentication (2FA) method as part of Level 2 KYC — either an authenticator app or an email one-time password (OTP).
Compliance and Monitoring
Enetworkspay maintains strict compliance with AML and KYC regulations and continuously monitors user activity. Any suspicious or potentially fraudulent activity is promptly investigated and appropriate action taken, including freezing accounts, reporting to relevant authorities, and terminating access.
User Data Privacy
Data collected during KYC verification is securely stored and used only to comply with regulatory requirements and ensure the security of the platform and services.
Conclusion
This policy is designed to protect the integrity of the platform, prevent money laundering, and comply with regulatory requirements. Users must complete the necessary KYC steps for their selected level; failure to do so may result in limited access or termination. Enetworkspay may update this policy at any time, and changes will be communicated to users.
For questions, contact support@enetworkspay.com.