AML / KYC Policy
Last Updated: 3 December 2025
Coinlance is committed to complying with all Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations in Nigeria.
1. Purpose
This policy ensures compliance with Nigerian law, CBN guidelines, FATF recommendations, and international best practices for crypto-related financial activity.
2. KYC Requirements
- Full legal name
- Government-issued ID
- Facial verification if needed
- Contact information
- Corporate documentation for businesses
3. Risk-Based Approach
- Low-risk: basic verified accounts
- Medium-risk: higher-volume accounts requiring enhanced verification
- High-risk: suspicious activity, subject to enhanced due diligence
4. Monitoring & Reporting
We monitor unusual transactions and report suspicious activity to EFCC, NFIU, and other authorities as required by law.
5. Prohibited Uses
Money laundering, terrorism financing, fraud, illegal sales, or any activity violating law is strictly prohibited.
6. Record Keeping & Training
KYC records and transaction history are retained for a minimum of 5 years. Compliance staff are regularly trained.
7. Contact
Email: compliance@coinlance.io
Disclaimer
Last Updated: 3 December 2025
- Coinlance does not provide financial, trading, or investment advice.
- We do not hold custody of digital assets or fiat currency.
- We are not liable for errors, delays, or failures caused by partners or external systems.
- Use of our platform is at your own risk.
Contact: legal@coinlance.io