Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) and Counter-Proliferation Financing (CPF) Statement
DRACOPAY LLC-F.Z. is a company incorporated in the United Arab Emirates and licensed in Meydan Free Zone, Dubai, to conduct Payment Services Provider activities (License activity code: 8291.98).
DRACOPAY LLC-F.Z. is committed to full compliance with applicable UAE anti-money laundering, counter-terrorist financing and counter-proliferation financing laws and regulations, including the relevant Federal Decree-Laws, Cabinet Resolutions and regulatory guidance issued by the competent authorities of the United Arab Emirates.
In accordance with its licensed activities, DRACOPAY LLC-F.Z. has implemented a risk-based AML/CFT/CPF compliance framework designed to prevent the misuse of its services for money laundering, terrorist financing or proliferation financing purposes.
The AML/CFT/CPF framework of DRACOPAY LLC-F.Z. includes, among others:
customer identification and verification procedures (Know Your Customer – KYC);
identification and verification of beneficial owners;
ongoing customer due diligence and periodic review of customer risk profiles;
transaction monitoring proportionate to the nature and scale of the licensed payment services;
screening against applicable UAE and United Nations sanctions lists;
enhanced due diligence measures for higher-risk customers, jurisdictions or transactions;
timely reporting of suspicious transactions to the UAE Financial Intelligence Unit through the official reporting systems;
record-keeping in accordance with UAE regulatory requirements;
appointment of a designated Compliance Officer / Money Laundering Reporting Officer (MLRO);
internal controls and staff training to ensure continued AML/CFT/CPF compliance.
DRACOPAY LLC-F.Z. maintains a zero-tolerance approach to money laundering, terrorist financing and proliferation financing and reserves the right to refuse, suspend or terminate any business relationship that does not meet its compliance standards or poses an unacceptable risk.
For compliance-related enquiries, please contact us with our contact form.
November, 2025