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Aml Risk

1. AML & Risk Management Statement

NezenX Pte. Ltd. operates strictly as a Technology Service Provider (TSP) offering a software platform that enables businesses to access and manage virtual cards issued by licensed financial institutions (“Partner Issuers”).

We do not provide payment services, money transfer services, cryptocurrency custody, or any activity that falls within the scope of the Payment Services Act (Singapore).

Accordingly:

  • All financial services (including card issuance, settlement, transaction processing and custody of funds) are performed exclusively by licensed Partner Issuers.
  • NezenX does not store, handle, or transfer customer funds.
  • NezenX enforces AML/CFT controls jointly with and through Partner Issuers.

To reduce fraud and financial risks on our platform, we apply the following measures:

Control AreaImplementation
KYCRequired before card enablement (individual/business)
AML ScreeningPerformed through licensed compliance partners
SanctionsOFAC / FATF High Risk / Non-KYC jurisdictions banned
MonitoringAutomated transaction & MCC pattern monitoring
High-Risk HandlingEnhanced Due Diligence if abnormal spending observed
TerminationInstant offboarding for violations / fraud patterns

NezenX may suspend or terminate access to virtual cards if:

  • suspicious or unlawful activity is detected,
  • excessive transaction declines / chargebacks occur,
  • MCC usage suggests fraudulent or prohibited transactions.

For further compliance-related queries:

  • legal@nezenx.com
  • NezenX Pte. Ltd., 10 Anson Road, International Plaza, Singapore 079903