Loading document…
The purpose of this Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy is to:
Comply with PMLA, SEBI, AMFI, IRDAI, and other applicable regulations.
Prevent money laundering, terrorist financing, and fraudulent transactions.
Ensure that Niyyam users are accurately identified and verified before engaging in financial transactions.
Protect the Platform and its users from financial and regulatory risks.
This policy applies to:
All users of Niyyam, including investors, policyholders, and borrowers.
All financial transactions facilitated via the Platform, including mutual funds, insurance policies, and loans.
All employees, agents, and third-party service providers engaged in user onboarding, KYC, or transaction processing.
3.1 Identity Verification: Collect government-issued ID proofs such as PAN, Aadhaar, passport, voter ID, or driver license. Verify name, date of birth, and photograph for all users. 3.2 Address Verification: Collect official address proof: utility bill, bank statement, Aadhaar, passport, or voter ID. 3.3 Financial & Risk Profiling: Obtain bank account details, income details, and FATCA/CRS declarations. Conduct risk assessment based on investment experience, source of funds, and financial profile. 3.4 Enhanced Due Diligence (EDD): Applied to high-risk users such as politically exposed persons (PEPs), foreign nationals, or users with complex financial profiles.
4.1 Transaction Monitoring: Monitor transactions for unusual, suspicious, or high-value activity. Flag and review transactions that deviate from the user financial profile. 4.2 Reporting Suspicious Activity: Report suspicious transactions to the Financial Intelligence Unit — India (FIU-IND) as required under PMLA. Maintain records of reports, investigations, and actions taken. 4.3 Prohibited Users & Activities: Users involved in fraud, money laundering, terrorism financing, or illegal activities will be blocked and reported to authorities.
All KYC and AML-related documents, logs, and reports will be retained for at least 5 years or as mandated by law. Records include:
Identity and address proofs
Financial and risk profiles
Transaction monitoring reports
Suspicious transaction reports and regulatory filings
Data will be securely stored, encrypted, and accessible only to authorized personnel.
Users are required to:
Provide accurate and complete KYC documents.
Update any changes in personal information (address, contact details, bank accounts).
Cooperate with verification requests or inquiries from the Platform.
Failure to comply may result in denied access, blocked transactions, or account suspension.
Grievance / Compliance Officer — Ashok Prasad
support@niyyam.comTech Margon Wealth Pvt. Ltd. (Niyyam)
1,2 A Block, 4th Floor, Above Chef Bakers, ITPL Main Road, Near Brookefield Hospital, Kundanhalli, Bangalore-560037, Karnataka