KYC/AML Policy
📄 KYC / AML Compliance Policy – ZikCards.com
Last Updated: 21/11/2025
This KYC/AML Policy explains how Rab Technologies & Traders LLC, operating as ZikCards, implements its anti-money laundering (AML) and Know Your Customer (KYC) procedures to comply with US federal law and global best practices. Our objective is to ensure a safe, secure, and compliant platform for all users and to prevent the platform from being used for financial crime.
By accessing or using ZikCards.com, you agree to follow the procedures outlined in this policy.
I. Regulatory Framework and Program Authority
1.1. Legal Adherence: ZikCards adheres to the requirements of the Bank Secrecy Act (BSA) and guidelines established by the Financial Crimes Enforcement Network (FinCEN). This AML Compliance Program is designed to meet or exceed all US legal requirements applicable to a Card Program Manager.
1.2. Program Authority: The ZikCards platform operates as a Card Program Manager and relies on its partner bank (the Card Issuer) for formal regulatory compliance. We implement robust, risk-based controls to protect the Issuing bank and the payment network.
II. Compliance Officer and Program Oversight
2.1. Designated Compliance Officer (CO): Rajeev Scaria, Founder & CEO, has been designated as the Compliance Officer. The CO is responsible for the day-to-day administration, monitoring, enforcement, and mandatory training of this KYC/AML Program.
2.2. Independent Review: The CO will ensure that this program is subjected to independent testing or audit at least annually to confirm effectiveness and adherence to regulatory requirements.
III. Customer Identification Program (KYC/CIP)
3.1. Verification Requirement: ZikCards maintains a formal Customer Identification Program (CIP). All individuals and businesses must successfully complete identity verification before a digital wallet (Connected Account) can be enabled or a Virtual Prepaid Card can be issued or funded.
3.2. Data Collection (Individuals): We collect the following minimum information as required for CIP compliance:
Full legal name
Residential address
Date of Birth (DOB)
Government-Issued Identification Number (SSN, ITIN, or equivalent foreign ID).
3.3. Verification Process: ZikCards uses automated third-party verification services (e.g., Stripe Identity API) to perform non-documentary identity verification. All applicants are screened against mandatory government sanctions lists, including the OFAC (Office of Foreign Assets Control) Sanctions List.
IV. Anti-Money Laundering (AML) Transaction Monitoring
4.1. Continuous Monitoring: We utilize sophisticated monitoring tools to continuously analyze all funding, top-up, and spending activity for suspicious patterns.
4.2. Red Flags: Monitoring focuses on detecting patterns such as:
Unusual or inconsistent transaction volume relative to the user’s history.
Rapid velocity of funds (quick loading, spending, and subsequent withdrawal).
Transactions involving high-risk jurisdictions or prohibited Merchant Category Codes (MCCs).
4.3. Suspicious Activity Reporting (SAR): If, after internal investigation by the CO, ZikCards determines that activity is suspicious, we are legally mandated to file a Suspicious Activity Report (SAR) with the Financial Crimes Enforcement Network (FinCEN) or the equivalent body.
V. Operational Security and Prohibited Uses
5.1. Prohibited Transactions: ZikCards Virtual Prepaid Cards and Wallet services are strictly prohibited from use for:
Cash withdrawals (ATM access)
Peer-to-peer transfers or money remittance
Illegal online gambling or the purchase of illegal goods/services
Any activities involving sanctioned entities.
5.2. Account Restriction: We reserve the right to freeze payments, restrict accounts, or terminate services immediately if a user is found to be involved in fraudulent or prohibited activities.
VI. Data Protection and Record Retention
6.1. Data Security: All KYC documents are handled with industry-standard security protocols, including encryption, restricted access, and secure storage. We never disclose identity documents except to our verified card-issuing partners or when legally required by authorities.
6.2. Mandated Record Retention: ZikCards will retain all records related to customer identification, transaction history, and any internal Suspicious Activity Reports for a minimum period of five years following the closure of a customer’s account, as mandated by FinCEN.
VII. Policy Updates and Contact
7.1. Policy Updates: We may update this KYC/AML Policy at any time. Updates will be posted with a revised “Last Updated” date.
11. Contact Information
If you have questions regarding our KYC or AML processes, contact us at:
Rab Technologies & Traders LLC
30 N Gould St #29271
Sheridan, WY 82801, USA
📧 Email: support@zikcards.com