Landifa Compliance

‘Landifa’ is committed to implementing and maintaining the highest standards of Know Your Customer (KYC) and Anti Money Laundering (AML) compliance as set forth by the Bank of Namibia and the Financial Intelligence Centre. Our management and employees adhere to these standards to prevent abuse of Landifa products and services for money laundering and terrorist financing purposes.

We operate under the auspices of the Financial Intelligence Centre of Bank of Namibia as a financial institution dealing in cryptocurrency.

Our guiding regulatory principle is derived from The Bank of Namibia position on cryptocurrencies released on the 2nd of May 2018 stating specifically that: "(In regards to) Online trading of Cryptocurrencies (Section 6) 6.1. Any member of the public or entity in Namibia that engages in mining, online trading (buying and selling) and exchanging of cryptocurrencies are subject to the applicable provisions of the Financial Intelligence Act, 2012 (Act No. 13 of 2012), as amended (FIA). This is to ensure that any risks related to money laundering, financing of terrorism and proliferation are controlled."

As per the Financial Intelligence Act, 2012 (Act No. 13 of 2012), as amended (FIA) and in pursuing its commitment to assist in the detection, prevention, and reporting of money laundering activities, Landifa shall be guided by the following principles:

  • Landifa implements and assesses AML and KYC procedures using a risk based approach.
  • Landifa attempts at the most effective procedures to verify the authenticity of the information furnished by new customers and shall know its customers by obtaining evidence of their identity.
  • In conformity with high ethical standards, Landifa ensures that its business is conducted with adherence to the laws and regulations of the Republic of Namibia, and that the service is not provided where there is good reason to believe that transactions are associated with money laundering and/or terrorism activities.
  • Landifa shall cooperate fully with law enforcement agencies by taking appropriate measures allowed by law if there are reasonable grounds for suspecting money laundering. Any actions are to be subject to the legal constraints relating to customer confidentiality.
  • Consistent with the principles set out in this policy, Landifa will ensure that its staff, wherever located, are informed of these policies and adequately trained in matters covered herein.
  • Landifa shall implement specific procedures for customer identification, record keeping and retention of transaction documents and reporting of covered and suspicious transactions.