Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) Policy
Yushaa's commitment to preventing financial crime
Yushaa is committed to preventing its platform from being used for money laundering, terrorist financing, or any other illicit financial activity. This Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Policy outlines the principles, controls, and procedures adopted by Yushaa to mitigate risks associated with financial crime, in line with applicable laws and best practices.
Yushaa operates as a digital marketplace directory that connects buyers and sellers by providing visibility and contact facilitation.
- Does not process payments
- Does not hold or transfer funds
- Does not act as an intermediary in transactions
- Does not provide escrow or wallet services
All transactions occur externally and directly between users. As a result, Yushaa is classified as a low financial risk, non-custodial platform, but remains committed to proactive risk mitigation.
This policy is informed by:
- Nigerian Anti-Money Laundering laws
- Counter-Terrorism Financing regulations
- Nigeria Data Protection Regulation (NDPR)
- Relevant FATF risk-based approach principles
Buyer Onboarding
Buyers are required to provide:
- Name or username
- Valid phone number
- Basic location information
No financial information is collected from buyers.
Seller (Vendor) Onboarding
Sellers must provide:
- Business or trading name
- Valid phone number (WhatsApp enabled)
- Market or operating location
- Description of goods or services
Where deemed necessary, Yushaa may request:
- Government-issued ID
- Market association membership
- Business registration documents
Enhanced Due Diligence (EDD)
Enhanced checks may be applied where:
- Listings appear inconsistent or suspicious
- Repeated complaints are received
- High-risk goods or locations are involved
- There is suspicion of illegal activity
Yushaa strictly prohibits listings or activities involving:
- Money laundering schemes
- Terrorist financing
- Illegal drugs or narcotics
- Weapons or arms trafficking
- Counterfeit or stolen goods
- Human trafficking or exploitation
- Extremist or sanctioned entities
- Any other illegal activities
Warning: Accounts associated with such activities are subject to immediate suspension.
Yushaa does not monitor financial transactions because:
Why we don't monitor transactions:
- Payments occur outside the platform
- Yushaa has no visibility or control over fund flows
However, Yushaa actively monitors:
- User behavior patterns
- Listing activity
- Communication abuse reports
- Repeated suspicious conduct
Any behavior suggesting misuse of the platform for financial crime triggers internal review.
Where suspicious activity is identified:
- Listings may be removed immediately
- User accounts may be suspended or terminated
- Information may be reported to relevant authorities where legally required
- Yushaa cooperates fully with law enforcement and regulatory agencies
Yushaa maintains records of:
- User registration details
- Listing history
- Complaints and reports
- Enforcement actions taken
Records are retained in accordance with legal and regulatory requirements.
All AML/CFT processes are conducted in compliance with NDPR. User information is:
- Used strictly for compliance and platform integrity
- Protected against unauthorized access
- Not sold or disclosed unlawfully
Yushaa ensures that relevant team members:
- Understand AML/CFT risks
- Can identify red flags
- Follow escalation procedures
- Apply enforcement consistently
This AML/CFT Policy is reviewed periodically and updated as necessary to reflect:
- Regulatory changes
- Platform growth
- Risk profile adjustments
Failure to comply with this policy may result in:
- Immediate account suspension
- Permanent platform ban
- Reporting to relevant authorities
Suspected AML/CFT concerns may be reported through:
- Official Yushaa support channels
- In-platform reporting tools
Yushaa affirms its commitment to maintaining a platform that promotes lawful commerce, transparency, and responsible marketplace practices.