AML & KYC Policy

Last updated: July 3, 2026

BayadBox is committed to preventing the use of its platform for money laundering, terrorism financing, and other financial crimes. This policy summarizes how we and our Partner Stores comply with Republic Act No. 9160 (the Anti-Money Laundering Act of 2001, “AMLA”), as amended — including by RA 10365, RA 10927, and RA 11521 — the Terrorism Financing Prevention and Suppression Act (RA 10168), and the regulations of the Anti-Money Laundering Council (AMLC) and the Bangko Sentral ng Pilipinas (BSP).

Regulated financial services on the BayadBox platform are delivered by or in partnership with BSP-supervised financial institutions, whose own AML programs also apply to those transactions.

1. Know Your Customer (KYC)

Partner Stores

Every Partner Store undergoes identity and business verification before activation, including government-issued ID, proof of business, and store address verification. Partner accounts are subject to ongoing monitoring and periodic re-verification.

Customers

Customers transacting at Partner Stores may be required to present a valid government-issued ID, consistent with BSP customer due diligence requirements — including for remittance transactions, BayadCard issuance, and transactions at or above regulatory thresholds. Reduced or simplified due diligence may apply to low-risk, low-value transactions as permitted by BSP rules.

2. Transaction Monitoring

Platform transactions are monitored for red flags, including:

• Structuring — splitting transactions to avoid identification or reporting thresholds
• Transactions inconsistent with a customer’s or store’s known profile
• Rapid movement of funds with no apparent business purpose
• Use of false or questionable identification

3. Reporting

Consistent with the AMLA and its implementing rules, covered transactions and suspicious transactions are reported to the AMLC through the responsible covered institution within the periods required by law. Partner Stores must promptly escalate suspicious activity to BayadBox and must not tip off customers involved.

4. Record Keeping

Transaction and customer identification records are retained for at least five (5) years from the transaction date or account closure, as required by the AMLA and BSP regulations, and are made available to regulators upon lawful request.

5. Sanctions and Targeted Financial Sanctions

We do not process transactions for persons or entities designated under United Nations Security Council resolutions or by the Anti-Terrorism Council. Screening is performed in coordination with our financial institution partners in line with AMLC Targeted Financial Sanctions guidelines.

6. Partner Store Responsibilities

• Complete AML/KYC training provided during onboarding
• Verify customer identity whenever the platform requires it
• Never process a transaction on behalf of an anonymous or unidentifiable customer where identification is required
• Refuse and escalate transactions that appear suspicious
• Cooperate with compliance reviews and audits

Violations of this policy are grounds for immediate suspension or termination of a Partner Store account and may be reported to the authorities.

7. Contact

Compliance questions or reports: [email protected] (subject line: “Compliance”)