KYC & AML Policy

Introduction – Know Your Customer (KYC)

TECHZERO1 SMC PRIVATE LIMITED follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies in line with State Bank of Pakistan (SBP) regulations and international standards.

This handbook provides detailed guidelines on KYC policies to help management and staff fully understand their obligations. It enables front-end staff and managers to interact effectively with customers while ensuring compliance with regulatory requirements. KYC laws are continuously evolving, and new regulations and amendments require regular updates to procedures and staff skills to remain aligned with internationally accepted best practices.

Regulatory policies across the globe emphasize strict compliance with AML and KYC laws. Fintech companies are required to adhere to these standards and demonstrate compliance with financial institutions and global partners. In Pakistan, SBP prudential regulations mandate that all financial institutions and fintech companies properly verify customers and understand their business activities.

TechZero1 has implemented awareness programs, internal procedures, and due diligence systems for merchants and customers. Preventing misuse of financial systems for money laundering and illegal activities is a shared responsibility of financial institutions.

All employees, especially field staff, customer support teams, and management, are expected to follow these guidelines carefully. Through teamwork and compliance, TechZero1 ensures a secure, transparent, and trusted financial ecosystem.

1. Know Your Customer (KYC)

KYC ensures identification of customers, verification of their identity, and understanding of their business activities to prevent misuse of financial systems.

• Verify identity and address
• Understand nature of business
• Maintain updated customer information
• Face-to-face verification required

1.1 Account Opening Requirements

• Valid CNIC verification
• Complete account opening forms
• Signed agreements
• Verified documents
• Email confirmation before activation

1.2 Merchant Onboarding

All merchants must submit complete documentation. No account is activated until verification is complete and approved by compliance officers or CEO.

1.3 Suspicious Activity Reporting

Any suspicious activity must be reported immediately to compliance officers and may be escalated to SBP Financial Monitoring Unit (FMU).

2. Monitoring Customer Accounts

All accounts are continuously monitored to detect unusual or suspicious activity.

• Monitor transactions regularly
• Review newly opened accounts
• Track dormant accounts
• Identify unusual patterns

3. Record Keeping

• Maintain records for minimum 5 years
• Store transaction history securely
• Keep compliance reports
• Retain suspicious reports indefinitely if required

4. Suspicious Transactions

Transactions inconsistent with customer profile or lacking economic logic may be considered suspicious and must be investigated.

5. Reporting Process

All suspicious transactions must be reported internally and escalated through proper compliance channels. Reports are confidential and not disclosed to customers.

6. Compliance Responsibility

All employees are responsible for following KYC/AML policies and ensuring compliance with regulations.

7. Regulatory Compliance

TechZero1 complies with SBP regulations, AML laws, and international financial standards.

8. Policy Updates

Policies are updated regularly to align with regulatory changes. Continued usage implies acceptance of updates.