Privacy Policy
AFRIKMONEY LTD — Privacy Policy
Last Updated: 31 March 2026
This Privacy Policy explains how Afrikmoney Ltd (“Afrikmoney”, “we”, “us”) collects, uses, stores, and protects personal data in accordance with the UK General Data Protection Regulation and the Data Protection Act 2018.
1Introduction
We are committed to safeguarding the privacy of our platform users and customers. This policy sets out how we handle your personal data to ensure compliance with applicable data protection legislation.
2Data We Collect
We may collect and process the following categories of personal data:
- Identity Information: e.g., name, date of birth, and government-issued identification documents.
- Contact Details: e.g., email address and phone number.
- Financial & Transaction Data: Information about transfers, bank accounts, and cards.
- Device & Technical Data: IP address, device type, operating system, and app usage details.
- Biometric & Verification Data: For identity verification and security checks.
- Source of Funds & Wealth Information: As required for regulatory customer due diligence.
3Lawful Basis for Processing
We process personal data on the following lawful bases:
- Performance of a Contract: To deliver our services as agreed in our terms.
- Compliance with Legal and Regulatory Obligations: To adhere to statutory requirements such as anti-money laundering regulations.
- Legitimate Business Interests: For monitoring, enhancing platform security, and improving services.
- Consent: Where you have provided explicit permission (where applicable).
4Use of Data
We use personal data to:
- Provide and operate the Services.
- Verify identity and prevent fraud.
- Comply with AML, CTF, and sanctions obligations.
- Improve our services and customer experience.
- Communicate with you regarding your transactions and account status.
5Data Sharing
We may share personal data with:
- Banking and payment partners.
- Identity verification providers.
- Regulators and law enforcement authorities where required by law.
- Professional advisers and auditors.
6International Transfers
Your data may be transferred outside the United Kingdom (UK). Where this occurs, we ensure that appropriate safeguards are in place to guarantee that your personal data remains protected in accordance with standard contractual clauses or equivalence decisions.
7Data Retention
We retain personal data only for as long as necessary to comply with legal, regulatory, audit, and operational requirements. In most cases, we retain financial crime prevention records for a minimum of 5 years after the business relationship ends.
8Your Rights
You have the right to:
- Access your personal data held by us.
- Request correction of inaccurate or incomplete data.
- Request deletion of data (where applicable, and subject to statutory retention obligations).
- Restrict or object to processing of your data.
- Request data portability.
- Lodge a complaint with the UK Information Commissioner's Office (ICO).
9Security
We implement appropriate technical and organisational measures, including advanced encryption (SSL/TLS), secure network architecture, access controls, and regular testing to protect personal data from accidental loss, access, or alteration.
10Contact
For privacy-related queries, please contact our support team at:
support@afrikmoney.com