AML & KYC Policy
A public summary of how we prevent our services from being used for money laundering or terrorist financing.
Last updated: 23 July 2026
1. Our commitment
VERIDIAN PAY - FZCO is committed to full compliance with the anti-money-laundering and counter-terrorist-financing framework of the United Arab Emirates, including Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and its implementing regulations, as amended. This page summarises our approach; the detailed internal procedures are maintained separately and shared with counterparties where appropriate.
2. Customer due diligence (KYC / KYB)
Before providing services to any client, we identify and verify:
- the legal identity of the business and its registration documents;
- the individuals who ultimately own or control it (beneficial owners);
- the nature of the business, its markets and its expected payment activity.
Enhanced due diligence applies to higher-risk clients, including those connected to higher-risk jurisdictions or with complex ownership structures. Where due diligence cannot be completed, we do not onboard the client.
3. Sanctions screening
Clients and their beneficial owners are screened against applicable sanctions lists, including UN and UAE lists, at onboarding and on an ongoing basis. We do not provide services to sanctioned persons or in relation to sanctioned territories.
4. Ongoing monitoring
Client activity is monitored against the profile established at onboarding. Unusual patterns are reviewed, and clients may be asked to explain or document specific transactions. Client files and risk assessments are refreshed periodically.
5. Record keeping
Due diligence records and transaction documentation are retained for at least the period required by UAE law after the end of the business relationship.
6. Reporting
Where we suspect money laundering or terrorist financing, we file reports with the UAE Financial Intelligence Unit through the goAML platform, as required by law, and cooperate with the competent authorities.
7. Training and responsibility
Compliance responsibilities are assigned at management level, and everyone involved in client relationships is trained on these procedures.
8. Questions
Compliance queries from counterparties and institutions: [email protected].