Bantu Soko is committed to the highest standards of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT), in full compliance with Tanzanian law and international best practices.

1. Governance & Oversight

• Management Oversight: Senior management is responsible for establishing, implementing, and reviewing all AML/CFT policies.
• Compliance Officer: A designated officer oversees day-to-day compliance, updates procedures, and reports to management.
• Employees: All staff must complete regular AML/CFT training and promptly report any suspicious activities.

2. Customer Due Diligence

• Identification & Verification: We verify merchant identities through government ID checks, business registry validation, and enhanced due diligence for higher-risk profiles.
• Ongoing Monitoring: We continuously monitor transactions for unusual patterns or thresholds that may indicate money laundering or terrorism financing.

3. Reporting

• Suspicious Activity Reports (SARs): Employees must immediately escalate any suspicious transactions to the Compliance Officer.
• Regulatory Cooperation: We fully cooperate with the Financial Intelligence Unit and law enforcement, providing information as legally required.

4. Record Keeping

We securely retain merchant identification records, transaction data, and SAR documents for a minimum of five years, in line with Tanzanian regulations.

5. Training & Risk Assessment

• Training: Annual, role-based AML/CFT training ensures staff stay current on regulations and emerging threats.
• Risk Assessment: We regularly evaluate AML/CFT risks across products, geographies, and merchant segments to refine controls.

6. Compliance Monitoring

The Compliance Officer conducts periodic audits of our AML/CFT framework and reports findings to senior management to drive continuous improvement.

7. Confidentiality

All AML/CFT records and reports are treated as strictly confidential and shared only with authorized personnel or authorities as required by law.

8. Policy Review

This policy is reviewed at least annually and updated to reflect changes in law, industry best practices, and evolving financial crime risks.