AML/CFT/CPF Policy

Quidax is committed to maintaining a compliance framework designed to mitigate the risk of money laundering, terrorist financing, proliferation financing, and other forms of financial crime. As a licensed entity regulated by the Securities and Exchange Commission (SEC) Nigeria, we implement controls aligned with applicable legal and regulatory requirements to identify, assess, and manage these risks across our operations.

Policy Objectives 

Our Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) policy is designed to ensure compliance with all applicable anti-money laundering laws, regulations, and directives, establish and maintain controls to prevent the use of our platform for illicit activity, provide a framework for the identification, escalation, and reporting of suspicious transactions to the relevant authorities, and apply a risk-based approach to customer due diligence proportionate to the nature and level of risk identified. 

Our Compliance Framework

Our program is structured around the following key controls. At onboarding, customers undergo KYC (Know Your Customer) and customer due diligence in line with applicable regulatory requirements, including screening against sanctions lists, politically exposed persons (PEP) databases, and adverse media sources. Enhanced due diligence is applied where a higher level of risk is identified. On an ongoing basis, we conduct periodic reviews and re-verification of customer information based on assigned risk ratings to ensure that customer profiles remain current and accurate. We operate transaction monitoring and screening systems designed to detect unusual patterns and indicators that may be associated with illicit activity. Where suspicious activity is identified, reports are filed with the relevant regulatory authorities in accordance with applicable reporting obligations. Staff training on AML/CFT/CPF requirements is conducted on a regular basis, with additional role-specific training provided where appropriate. Our compliance framework is subject to periodic independent review to assess its effectiveness and alignment with regulatory developments.

Governance

Oversight of the AML/CFT/CPF program rests with the Board of Directors, which approves all related policies. Designated compliance officers are responsible for the day-to-day implementation and enforcement of the program, with regular reporting to the Board on material compliance matters.

Regulatory Framework

Our policy is formulated in compliance with all applicable Nigerian anti-money laundering and counter-terrorist financing laws and regulations, including but not limited to directives issued by the Securities and Exchange Commission, the Central Bank of Nigeria, and the Nigerian Financial Intelligence Unit.

Prohibited Relationships

Quidax does not establish or maintain business relationships involving shell entities, unlicensed money service businesses, gambling and casino operations, dealings in arms and weapons, or entities operating in sanctioned or prohibited jurisdictions. Customers are screened against these categories at onboarding and on an ongoing basis as part of our continuous due diligence process.

Additional Controls

We maintain additional safeguards including sanctions and PEP screening using automated tools, record-keeping and data retention in line with applicable regulatory requirements, board-approved policies subject to regular review and update, data protection controls aligned with applicable privacy legislation, and periodic compliance audits and assessments.

Our Commitment to a Trusted Digital Asset Ecosystem

Quidax is built for market participants seeking secure and responsible access to digital asset markets. We combine innovation with a strong commitment to compliance, delivering a transparent and scalable framework that supports participation in the evolving digital asset ecosystem.

We cooperate fully with law enforcement and regulatory authorities in line with applicable laws. Authorized agencies can refer to our Law Enforcement Information Request Guide for submission procedures and requirements.

Transaction Monitoring and Blockchain Intelligence

We leverage advanced blockchain analytics tools, to enhance visibility into digital asset flows and strengthen risk controls. This enables us to:

• Identify high-risk addresses, entities, and transaction patterns
• Detect potential exposure to sanctioned or illicit sources
• Apply proportionate controls and restrictions as necessary

Combining blockchain transparency with intelligent monitoring supports a secure and compliant environment as our platform scales.

Sanctions Compliance

We implement strict procedures to screen clients, counterparties, and transactions against applicable sanctions lists, including:

• NIGSAC, OFAC, EU, UN sanctions lists.
• Relevant national and international sanctions frameworks
• Other designated financial crime watchlists

We take immediate action where required to fulfill our sanctions obligations.

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