Regulatory Governance & Trust

Compliance & Legal Standards

MoniCard operates with unwavering adherence to international Anti-Money Laundering (AML) standards, CEMAC/COBAC monetary regulations, and PCI-DSS cardholder security.

BEAC & COBAC Aligned

PCI-DSS Level 1 Standards

ANIF Registered (AML/CFT)

100% Segregated Reserves

Regulatory Integrity

For law enforcement, financial intelligence inquiries, or formal compliance subpoenas, reach our legal unit at compliance@monicard.com.

1. Regulatory Architecture & Licensing

Our legal operating framework and integration with regulated banking institutions.

MoniCard operates a state-of-the-art fintech infrastructure in strategic alliance with licensed commercial banks, authorized e-money issuers, and accredited card processing schemes in the Central African Economic and Monetary Community (CEMAC).

BEAC & COBAC Regulatory Alignment

Central Bank Oversight

MoniCard aligns its payment rails, reserve mechanisms, and cross-border currency exchange operations with the directives issued by the Bank of Central African States (BEAC) and the Central African Banking Commission (COBAC).

Licensed Banking Partnerships

Custody of Funds

MoniCard does not engage in fractional banking. All user fiat reserves (XAF, USD, EUR) are held 1:1 in ring-fenced, segregated accounts at Tier-1 commercial partner banks licensed by the Ministry of Finance and COBAC.

Card Scheme Accreditation

Visa & Mastercard

Virtual cards issued on MoniCard are provisioned through certified principal member institutions of Visa and Mastercard, adhering strictly to global payment network operating regulations.

2. Know Your Customer (KYC) Standards

Tiered customer due diligence, biometric checks, and identity validation.

Our Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures prevent fraudulent account takeovers, underage gambling, and identity theft through automated verification pipelines.

Verification Tier	Required Identification	Daily Limits	Compliance Level
Tier 1: Basic Access	Verified Mobile Number + Full Name	20,000 XAF Daily	Simplified CDD
Tier 2: Verified Personal	National ID (CNI) / Passport + Biometric Liveness	2,000,000 XAF Daily	Standard CDD (AML Verified)
Tier 3: Corporate & Merchant	RCCM Registration, Tax ID (NIU), Bank Reference	10,000,000+ XAF Daily	Enhanced Due Diligence (EDD)

Tier 2 biometric verification is completed through automated AI facial liveness comparison matching government ID documents within minutes.

3. Anti-Money Laundering (AML / CFT)

Real-time transaction surveillance, sanctions screening, and ANIF reporting.

MoniCard maintains a rigorous Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) policy based on FATF Recommendations and CEMAC Regulation No. 01/03-CEMAC-UMAC.

Automated Sanctions Screening

Global Watchlists

Every user registration and high-value payment is screened against OFAC, United Nations Security Council, European Union, and regional sanction databases.

Politically Exposed Persons (PEP)

Enhanced Due Diligence

Individuals holding prominent public functions and their direct family members undergo enhanced scrutiny and source-of-wealth documentation prior to account approval.

Suspicious Activity Reports (SAR)

ANIF Liaison

Transactions demonstrating structuring, abnormal velocity, or fraudulent indicators are flagged automatically and reported to the National Agency for Financial Investigation (ANIF).

Continuous Transaction Monitoring

24/7 AI Surveillance

Heuristic models analyze device geolocation, IP hops, card load velocity, and payment recipients in real time to intercept suspicious fund flows.

4. Payment Card Security & PCI-DSS

Cryptographic tokenization, zero raw PAN storage, and 3D Secure 2.0.

We treat virtual card data as sovereign cryptographic assets. MoniCard adheres strictly to Payment Card Industry Data Security Standards (PCI-DSS Level 1).

Card Number Tokenization

PCI-DSS Compliant

MoniCard servers never store unencrypted 16-digit Primary Account Numbers (PAN) or Card Verification Values (CVV2). All card details are stored in certified Hardware Security Modules (HSM).

3D Secure 2.0 (3DS) Multi-Factor Auth

Cardholder Protection

Every online payment processed with a MoniCard virtual card requires dynamic step-up challenge authentication via SMS OTP or biometric confirmation in the MoniCard app.

Instant Freezing & Spending Caps

User Empowerment

Cardholders can freeze, delete, or set individual transaction limits on any virtual card instantly from their phone with zero delay or bank branch visit required.

5. Safeguarding of Customer Funds

100% reserve backing and complete legal isolation from company operations.

Your money is protected by law and strict structural separation.

Segregated Custody Accounts

100% 1:1 Backing

100% of user wallet balances and card load balances are held in separate trust accounts. These funds are never mingled with MoniCard corporate operational capital.

Immunity from Corporate Creditors

Ring-Fenced

Because customer balances are held in segregated trust structures, client money cannot be claimed by creditors or used for company debt settlement under any circumstances.

Audited Reconciliation Daily

Automated Ledger

Our treasury engines execute automated thrice-daily reconciliation between on-platform digital balances and bank custody reserve accounts to guarantee 100% solvency.

Direct Mobile Money Rails

Carrier Redundancy

Direct API linkages with MTN MoMo and Orange Money ensure deposits and withdrawals settle directly on regulated telecommunications finance rails.

6. Consumer Protection & Ethics

Transparent pricing, dispute rights, and confidential whistleblowing.

MoniCard is committed to ethical financial practices, customer rights advocacy, and transparent banking.

Zero Hidden Surcharges

Price Integrity

All fees, card issuance charges, and foreign exchange markups are displayed explicitly in-app before the customer inputs their transaction PIN.

48-Hour Dispute Resolution

Customer Advocacy

In the event of merchant double-charges, canceled flight tickets, or payment delivery timeouts, our dedicated chargeback desk investigates and delivers initial findings within 48 hours.

Confidential Whistleblowing Channel

Ethics Hotline

Employees, customers, and partners can report suspected compliance breaches, bribery, or financial misconduct directly to our independent audit board at compliance@monicard.com.

Questions regarding our regulatory compliance?

Our compliance officer and legal counsel are available to assist institutional partners, enterprise clients, and regulators.

Contact Compliance Office Security Architecture

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