Introduction

This Anti-Money Laundering (AML) Policy outlines the commitment of The Asiapay (www.theasiapay.com) to prevent and detect money laundering, terrorist financing, and other illegal financial activities. It applies to all users, merchants, and partners who engage with The Asiapay’s payment gateway services and related financial operations. This policy is designed in line with applicable Indian laws, including the Prevention of Money Laundering Act (PMLA), RBI guidelines, and other relevant global AML regulations.

To the Users

The terms “we”, “our” and “us” refer to The Asiapay and/or the The Asiapay Website www.theasiapay.com. The terms “you”, “your” and “user” refer to you, as a user of The Asiapay services. For the purposes of this AML Policy, the term “Customer Due Diligence (CDD)” refers to the process of verifying the identity of customers and assessing the potential risk of illegal activities. We require the following information and documentation as part of our AML compliance:

• Your Full Legal Name
• Valid Government-issued Identification (PAN, Aadhaar, Passport, etc.)
• Entity Registration Documents (as applicable)
• Proof of Address (Utility bill, bank statement, etc.)
• Bank Account Information for settlements
• KYC documents for business owners, directors, and authorized signatories

For businesses, we may also require:

• Certificate of Incorporation or Business License
• GST Registration Number
• Memorandum & Articles of Association / Partnership Deed
• List of Ultimate Beneficial Owners (UBOs) with identification proof

Reason for Collecting and Processing the Data

The Asiapay collects and processes the above information to:

• Comply with applicable AML and counter-terrorist financing laws
• Verify the identity of our customers and business partners
• Prevent, detect, and report suspicious transactions
• Reduce risks related to money laundering and fraudulent activities
• Maintain accurate records as required by law

Our AML Measures

To ensure compliance with AML regulations, The Asiapay implements:

• Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for high-risk accounts
• Ongoing monitoring of transactions to detect unusual or suspicious activities
• Internal reporting procedures for suspicious activities to relevant authorities
• Regular training of staff on AML policies and legal requirements
• Cooperation with law enforcement and regulatory agencies when required

By using The Asiapay’s services, you agree to provide accurate information and comply with all AML-related verification requirements. Failure to comply may result in account suspension or termination in accordance with applicable laws.