Legal
Anti-Money Laundering Policy
Last updated: April 2026
Policy Overview
Cloza is committed to preventing money laundering, terrorist financing, and other financial crimes in compliance with Nigerian law, including the Money Laundering (Prevention and Prohibition) Act and relevant CBN and EFCC requirements.
This policy explains how we verify users, protect our platform, and maintain records to reduce AML and fraud risk.
Customer Verification (KYC)
Users must complete identity verification before sending proposals and before payout setup is accepted.
- Full legal name
- National Identity Number
- Email address
Verification Methods We Use
Cloza only represents controls currently implemented in production.
- NIN verification via Prembly NIN Basic, including retrieval of verified identity name.
- Email verification through a confirmation link.
- Automated payout name matching: payout account name must match verified identity name. Partial matches or mismatches are rejected and cannot be saved.
- Proposal/payment gating when payout name match is not fully matched.
Sanctions And Suspicious Activity
Cloza does not knowingly support prohibited or sanctioned activity. Accounts may be restricted or suspended where suspicious indicators are identified and escalated for compliance review.
Where legally required, Cloza cooperates with competent Nigerian authorities.
Record Keeping
We retain relevant KYC, verification, and transaction records for at least five (5) years in line with Nigerian legal expectations.
Records are protected with access controls and made available to regulators where lawfully required.
Compliance Contact
For AML and compliance questions, contact:
Policy Updates
Cloza may update this AML Policy as regulations or platform controls evolve. Continued use of the platform constitutes acceptance of the current version.