Help Centre

Is my money safe?

Relevant funds must be safeguarded. These are sums received in exchange for electronic money that has been issued by our regulated entity. Electronic money issued by PayrNet is credited to a ledger account on the Railsr platform. A positive ledger account balance is...

What is Counter Terrorism (CTF) Financing?

Counter Terrorism Financing (CTF) refers to the efforts and measures taken to prevent terrorist organizations and individuals from raising, moving, or using funds to support their activities. CTF aims to disrupt the financial networks that sustain terrorist...

What is Money Laundering?

Money laundering is the process of making illegally obtained or "dirty" money appear legitimate or "clean." It involves a series of complex transactions that obscure the origin and ownership of the funds, making it difficult for authorities to trace the illicit...

How do I protect myself from fraud?

Protecting yourself from fraud is essential in today’s digital world. Here are some important steps you can take to safeguard yourself: -          Be cautious with personal information: Avoid sharing sensitive information...

Why is my KYB being requested again?

To comply with regulations, we may ask for your business details again to make sure if there are any updates with regards to your business activity. We do use public sources for this information; however, we cannot solely rely on this source for some of our required...

Who is a PEP?

PEP stands for Politically Exposed Person. A PEP is an individual who holds a prominent public position or has held such a position in the recent past. These positions can include high-ranking government officials, politicians, senior executives in government-owned corporations, judicial or military officers, or leaders of international organizations.

PEPs are considered higher-risk individuals for potential involvement in corruption, bribery, money laundering, or other illicit activities due to their access to public resources and influence. The Financial Action Task Force (FATF) and other regulatory bodies recommend enhanced due diligence measures for financial institutions when dealing with PEPs to mitigate the risks associated with their potential involvement in illicit financial activities.

These criteria may include the level of the public position held, the nature and scope of the authority exercised, and the jurisdiction in which the position is held. Financial institutions and other regulated entities typically have internal policies and procedures in place to identify and handle PEP relationships in accordance with relevant regulations and guidelines.