AML / KYC Commitment

Why we KYC

Fyber is an obligated entity under Jamaica's Proceeds of Crime Act and the Financial Action Task Force (FATF) guidance applicable to payment-services providers. We KYC every merchant before onboarding and monitor activity continuously thereafter.

What we collect at onboarding

• Business registration certificate
• Beneficial owners (≥25% ownership) — name, DOB, government-issued ID
• Directors and authorised signatories
• Business address and contact details
• Bank account details for settlement
• Description of business activity, expected volume and average ticket size

Ongoing monitoring

• Sanctions screening — every merchant and beneficial owner is screened against OFAC, EU, UN, and Jamaica consolidated sanctions lists at onboarding and continuously thereafter.
• Politically-exposed-persons (PEP) screening — flagged for enhanced due diligence.
• Transaction monitoring — alerts on velocity, average ticket deviation, geographic anomalies, structuring, unusual hours.
• Chargeback ratio monitoring — see Refund & Chargeback Policy.

Suspicious activity

When activity meets the threshold for a Suspicious Transaction Report (STR) or Suspicious Activity Report (SAR), we file with Jamaica's Financial Investigations Division (FID). We cooperate with regulators under Jamaican law and may be prohibited from notifying the merchant that a report has been filed (tipping-off rules).

Merchant responsibilities

• Keep KYC information current — notify Fyber within 30 days of any change to beneficial ownership, directors, business name, or business activity.
• Respond promptly to enhanced due diligence requests (typically within 14 days).
• Maintain accurate transaction records and provide them on request.

Audit & staff training

• Annual independent AML programme review.
• Ongoing AML training for all customer-facing staff.
• Designated Money Laundering Reporting Officer (MLRO) registered with the relevant authorities.

Contact

For AML / compliance enquiries, email compliance@fyber.one.