At Utopie, we are committed to protecting the privacy and security of our customer's personal information. We have implemented policies and procedures to ensure that all personal information collected, processed, and stored by Utopie is handled in compliance with applicable laws and regulations, including the Nigerian Data Protection Regulation (NDPR).

Collection and Use of Personal Information

We may collect personal information from our customers, such as name, address, date of birth, identification documents, and transaction information. We use this information to provide our services, including virtual card issuance, intrabank and interbank transfers, and other financial transactions.

KYC Procedures

We require all customers to provide valid identification documents as required by the Central Bank of Nigeria (CBN) and other relevant regulatory authorities. We perform customer due diligence before issuing any virtual card, including identity verification, risk assessment, and ongoing monitoring of customer transactions. We maintain records of all customer due diligence activities and make them available to regulatory authorities as required. Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) Policies and Procedures We have implemented AML and CFT policies to detect and prevent money laundering and terrorist financing activities. We monitor customer transactions and account activity to identify suspicious behavior and report any suspicious activity to regulatory authorities. Our employees are trained on AML and CFT policies and procedures and are aware of their reporting obligations to regulatory authorities.

Data Protection and Privacy Policies

We have policies in place to protect customer data and ensure compliance with the NDPR and other relevant laws. We inform customers of their rights to access, correct, and delete their data and how their data is being used. We restrict access to customer data to authorized personnel only and implement appropriate technical and organizational measures to protect customer data.

Complaints Handling Procedures

We have procedures in place for receiving, investigating, and resolving customer complaints related to virtual card issuance. We maintain records of all complaints and their resolution and inform the customer of the outcome of their complaint. Operational and Security Policies We have policies in place for managing operational risks, including business continuity and disaster recovery plans. We implement security measures to protect virtual card issuance systems and customer data from unauthorized access, modification, or destruction.

Compliance Monitoring and Testing

We conduct regular compliance monitoring and testing to ensure that policies and procedures are being followed and identify areas of non-compliance. We document and report compliance monitoring and testing findings to management and regulatory authorities as required.

Training and Awareness Programs

All employees receive training on regulatory requirements, policies, and procedures related to virtual card issuance and compliance. We develop and implement training and awareness programs to ensure that employees understand their roles and responsibilities in complying with regulatory requirements.

Changes to Privacy Policy

We may update this Privacy Policy from time to time. Customers will be notified of any changes to the Privacy Policy, and their continued use of our services will be deemed as acceptance of the updated Privacy Policy Contact us if you have any questions or concerns about our Privacy Policy, please contact us at No 7, Awofeso Street, Lagos.