AML & KYC Policy

Niyyam — AML & KYC Policy

Effective Date: 4th March 2026
Platform / Controller: Niyyam, operated by Tech Margon Wealth Pvt. Ltd., Bangalore, Karnataka, India.
Contact / Compliance Officer: Ashok Prasad

Email: ashok@niyyam.com

1. Purpose

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.

2. Scope

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. KYC (Know Your Customer) Requirements

3.1 Identity Verification:

  • Collect government-issued ID proofs such as PAN, Aadhaar, passport, voter ID, or driver’s 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.
  • May include additional documentation, verification calls, or source-of-funds checks.

4. AML (Anti-Money Laundering) Measures

4.1 Transaction Monitoring:

  • Monitor transactions for unusual, suspicious, or high-value activity.
  • Flag and review transactions that deviate from the user’s 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.
  • Niyyam reserves the right to refuse service to individuals or entities failing KYC or AML checks.

5. Third-Party Verification & Integrations

  • KYC may be performed through KRAs, banks, payment gateways, or KYC verification partners.
  • All third parties are required to adhere to regulatory standards and protect user data.
  • Niyyam ensures secure transmission of documents and verification results.

6. Record Keeping & Retention

  • 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.

7. Compliance & Training

  • Niyyam conducts regular training for employees and agents on KYC/AML compliance, regulatory updates, and reporting procedures.
  • The Platform appoints a Compliance Officer responsible for:
    • Oversight of KYC and AML processes
    • Reporting to regulators (SEBI, AMFI, IRDAI, FIU-IND)
    • Ensuring adherence to DPDP, PMLA, and sectoral guidelines

8. User Responsibilities

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.

9. Limitations & Disclaimers

  • Compliance with KYC/AML requirements does not guarantee approval of transactions or financial products.
  • Niyyam does not assume liability for losses arising from fraudulent or illegal activities by users who misrepresent information.
  • Users are responsible for understanding regulatory obligations related to their financial activities.

10. Contact & Compliance Officer

For any queries regarding KYC, AML, or related compliance matters:

Compliance Officer:
Tech Margon Wealth Pvt. Ltd. (Niyyam)
Email: ashok@niyyam.com
Postal Address: 1,2 A Block, 4th Floor, Above Chef Bakers, ITPL Main Road, Near Brookefield Hospital, Kundanhalli, Bangalore-560037, Karnataka