Anti-Money Laundering (AML) & CFT Compliance Policy

Document ID: CYNE-AML-2026-V1 Effective Date: May 2026
Cyne (engineered and maintained by Banisu Technology) operates under strict compliance with the Money Laundering (Prevention and Prohibition) Act of Nigeria, Central Bank of Nigeria (CBN) financial guidelines, and international Financial Action Task Force (FATF) standards. We maintain an absolute zero-tolerance framework against money laundering, illicit capital flight, terrorism financing, and utility liquidation fraud.

1. Mandatory Identity Verification (KYC, BVN & NIN Gates)

⚠️ COMPLIANCE MANDATE: Outbound fiat transfers to local bank channels or access to value-added features will remain permanently frozen until an individual profile passes automated identity matching.

Anonymous, unverified pool transfers are strictly blocked inside the Cyne infrastructure layer. Every user profile wishing to initiate an off-ramp conversion request must complete our multi-tier verification process by linking their valid, state-issued Bank Verification Number (BVN) or National Identification Number (NIN).

Our compliance node uses cryptographic API sweeps to verify that your full legal name matches the information registered with the Nigeria Central Switch (NIBSS) data tables perfectly. Any account mismatch instantly triggers an automatic system hold.

2. Price Volatility & Sudden Jump Safety Caps

To insulate our liquidity reserves and stop malicious trading scripts from exploiting artificial blockchain rate spikes, Cyne deploys real-time tracking filters:

Our backend features an automated **10% Sudden Jump Safety Cap**. If a supported asset node experiences a sudden, unnatural pricing fluctuation that deviates by 10% or more from established global market indices, the platform's execution layer freezes processing instantly. Transactions are safely held in validation queues until the compliance desk verifies that no system or rate exploitation has occurred.

3. Transaction Velocity Monitoring & Volume Limits

Cyne maintains automated, round-the-clock monitoring loops to audit transaction velocity, volume, and behavioral consistency across all active profiles:

  • Rapid Smurfing Controls: Splitting up large sums into a high frequency of minor deposits to avoid detection will trigger an automatic compliance flag.
  • Tiered Limits: Daily conversion and extraction limits are tied to your verification status. Accounts can increase their capacity only by submitting additional regulatory validation.
  • Sudden Spikes: If an account that usually processes minor transactions suddenly attempts to clear a major, high-tier asset block, the system will place a validation hold until the source of funds is verified.

4. Immutable Audit Trails & Record Retention

Every point of interaction inside the Cyne application layer leaves an unalterable, permanent record in our database rows. This tracking archives inbound blockchain transaction hashes, source network metadata, specific device hardware configurations (UDID), conversion rates, and receiving Nigerian bank account details.

In strict accordance with regional banking policies, these data metrics are permanently stored for a minimum retention window of five (5) years. This absolute tracking historical timeline cannot be deleted, cleared, or altered by users or administrative personnel, ensuring total transparency during external audits.

5. Airtime-to-Cash Fraud Safeguards & Asset Freezes

The liquid nature of telco airtime parameters makes it a target for money laundering and theft placement networks. Cyne enforces strict automated checks to block the processing of illicit network assets.

If an account profile attempts to liquidate airtime values linked to reported lines, sim-swap exploits, or online extortion loops, our system locks down the profile immediately. The connected Available Balance is frozen, outbound bank withdrawals are disabled, and user profile data is compiled for immediate handoff to the Economic and Financial Crimes Commission (EFCC) for regulatory investigation.

6. Reporting and Inter-Agency Cooperation

As a regulated crypto infrastructure operator, Cyne works in direct coordination with local law enforcement, Central Bank oversight nodes, and judicial verification bodies.

When our automated system flags a profile for suspicious activity, our compliance desk is legally obligated to file a Suspicious Transaction Report (STR) with the appropriate authorities. These reports are submitted without notifying the flagged entity, ensuring complete compliance with standard anti-tipping-off rules.