AML & KYC Policy
Anti-Money Laundering & Know Your Customer | Last updated: January 2026
Risk Disclaimer
Crypto assets are volatile and carry risk. Users trade at their own discretion. FirstFlip does not guarantee profits.
1. Introduction
FIRST FLIP LTD (RC 9023563) is committed to preventing money laundering, terrorist financing, and other financial crimes. This policy outlines our procedures for customer identification, verification, and ongoing monitoring in compliance with Nigerian financial regulations and international AML standards.
2. Customer Identification (KYC)
All customers must provide:
- Full legal name as it appears on official documents
- Date of birth and nationality
- Residential address with proof (utility bill, bank statement)
- Government-issued photo ID (passport, national ID, driver's license)
- Selfie for facial verification
- Source of funds declaration for large transactions
3. Verification Levels
Tier 1 - Basic
Email, phone verification. Daily limit: ₦500,000
Tier 2 - Standard
ID verification, address proof. Daily limit: ₦5,000,000
Tier 3 - Enhanced
Video verification, source of funds. Daily limit: ₦50,000,000+
4. Transaction Monitoring
We continuously monitor transactions to detect suspicious activities:
- Unusual transaction patterns or volumes
- Transactions inconsistent with customer profile
- Multiple transactions just below reporting thresholds
- Transactions involving high-risk jurisdictions
- Use of multiple accounts or identities
5. Suspicious Activity Reporting
FirstFlip is required to report suspicious transactions to the Nigerian Financial Intelligence Unit (NFIU) and other relevant authorities. We may not inform you if a report has been filed. Transactions above ₦5,000,000 (or equivalent) are automatically reported to regulatory authorities.
6. Prohibited Activities
- Money laundering or terrorist financing
- Use of stolen funds or proceeds of crime
- Providing false or misleading information
- Trading on behalf of unverified third parties
- Circumventing transaction limits or monitoring
- Activities involving sanctioned individuals, entities, or countries
7. Consequences of Violations
Violations may result in:
- Immediate account suspension or termination
- Freezing of funds pending investigation
- Reporting to law enforcement agencies
- Permanent ban from FirstFlip services
- Legal prosecution under applicable laws
8. International Compliance
United States
U.S. persons are subject to additional restrictions under FinCEN regulations and OFAC sanctions. Any attempt to use FirstFlip for money laundering or sanctions evasion will result in immediate account termination, fund seizure, and reporting to U.S. authorities including the FBI and Treasury Department.
Violations may result in federal prosecution, imprisonment, and substantial fines.
United Kingdom
UK users must comply with FCA regulations and the Proceeds of Crime Act 2002. Money laundering offenses are punishable by up to 14 years imprisonment. FirstFlip cooperates fully with the National Crime Agency (NCA) and will report suspicious activities.
Fraudulent activities will be reported to Action Fraud and local authorities.
European Union
EU users are subject to the 6th Anti-Money Laundering Directive (6AMLD). Money laundering carries criminal penalties including imprisonment. FirstFlip complies with EU sanctions regulations and reports to relevant Financial Intelligence Units.
Cross-border violations may result in prosecution in multiple jurisdictions.
9. Contact
For AML/KYC inquiries, contact our compliance team at: compliance@firstflip.ng