AML / KYC Policy

1. Purpose

Crane is committed to preventing money laundering and terrorism financing in line with:

·   The Money Laundering (Prohibition) Act.

·   CBN AML/CFT Guidelines for Virtual Assets.

·   NFIU and EFCC regulations.

·   International standards (FATF).

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2. KYC Obligations

·   Collect and verify customer identity with valid documents (passport, NIN, BVN, utility bill).

·   Perform Enhanced Due Diligence (EDD) for high‑risk clients, including PEPs.

·   Verify businesses against the Corporate Affairs Commission register.

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3. Monitoring & Reporting

·   All transactions are monitored for unusual or suspicious activity.

·   Suspicious Transaction Reports (STRs) will be filed with the NFIU within 24 hours of detection.

·   Transactions may be held for 3–10 business days pending AML review.

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4. Sanctions & Screening

·   Crane screens all customers against sanctions lists (OFAC, UN, EU, Nigeria).

·   Transactions involving sanctioned individuals/entities are blocked and reported.

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5. Recordkeeping

·   Customer data and transaction records will be kept for 7 years after account closure.

·   Records will be made available to regulators upon lawful request.

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6. Compliance Oversight

·   A Money Laundering Reporting Officer (MLRO) oversees implementation.

·   Staff receive regular AML/KYC training.

·   Non‑compliance may result in fines, account suspension, or regulatory sanctions. 

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7. Sanctions

Failure to comply with AML/CFT obligations may result in account termination, reporting to regulators, and legal penalties including fines or imprisonment.

Contact: For questions about AML/KYC compliance, email support@usecrane.co

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