Terms & Conditions

The information contained on our website (“Service”) is for general information purposes only. Nock Pay makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Nock Pay assumes no responsibility for errors or omissions in the contents of the Service. In no event shall Nock Pay be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever arising from loss of data or profits; or, in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service.

Nock Pay reserves the right to make additions, deletions, or modification to the contents on the Service at any time without prior notice. Nock Pay does not warrant that the website is free of viruses or other harmful components.

Links

Our website may contain links to external websites that are not provided or maintained by or in any way affiliated with us. Please note that Nock Pay does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of such links is not an endorsement by us in favor of any company offering any products or services on any linked website.

It is your responsibility to exercise your own skill and care with respect to any material on those external websites. We will not be liable for any loss or damage that may arise from or relating to a linked third-party website.

Disclaimer

These terms and conditions refer to the following additional terms, which also apply to your use of our site. Our website Privacy policy which sets out what personal information we collect about you in connection with your use of our site, how we use it and your rights. Our Cookie Policy which sets out information about the cookies on our site and how you may exercise choice.

Your use of this website, and any information (including, without limitation, personal information) you submit to us through or in connection with this website, is subject to Nock Pay’s Privacy Notice, which is available through this website.

Nock Pay’s Policies

1. Anti-Money Laundering (AML) Policy

Purpose: Nock Pay is committed to preventing money laundering and the financing of terrorism through its payment processing services. This policy outlines Nock Pay’s approach to ensuring compliance with relevant legal and regulatory requirements to mitigate risks associated with money laundering.

Policy Overview: Nock Pay will implement and maintain effective systems and procedures to detect and prevent money laundering activities. This includes verifying the identity of customers, monitoring transactions, and reporting suspicious activity to the relevant authorities.

Key Components:

• Customer Due Diligence (CDD): Nock Pay will conduct appropriate due diligence to verify the identity of customers, including monitoring their financial activities to ensure they are not involved in money laundering or terrorism financing.
• Suspicious Activity Reporting: Nock Pay will monitor transactions for any suspicious activities that may suggest money laundering or illegal financial transactions. If suspicious activity is detected, Nock Pay will report it to the appropriate regulatory authorities, including the Financial Crimes Enforcement Network (FinCEN).
• Record Keeping: Nock Pay will retain records of customer transactions and verification documentation as required by regulatory authorities, ensuring compliance with record retention rules.
• Ongoing Monitoring and Compliance: Nock Pay will regularly review and update its AML policies and procedures to comply with evolving laws and regulations. Staff members will be trained to identify red flags and suspicious activities.

2. Know Your Customer (KYC) Policy

Purpose: The KYC policy ensures that Nock Pay adheres to the regulations for verifying the identity of its customers, reducing the risk of fraud, and preventing the facilitation of money laundering or terrorist financing.

Policy Overview: Nock Pay will apply KYC procedures to all new customers and periodically re-verify customer information to detect and prevent illicit activities. This process includes gathering and validating customer information and conducting risk assessments to ensure customers’ activities align with the legal requirements.

Key Components:

• Customer Identification Program (CIP): Nock Pay will verify the identity of customers by collecting the necessary personal or business information, such as government-issued identification, proof of address, or business registration documents.
• Risk-Based Approach: Nock Pay will assess the level of risk associated with each customer based on factors such as geography, transaction types, and customer history. Higher-risk customers may undergo enhanced due diligence (EDD) processes.
• Screening Against Sanctions Lists: Nock Pay will screen all customers against global sanctions lists and politically exposed persons (PEPs) databases to ensure compliance with international regulations.
• Ongoing Monitoring: Nock Pay will continuously monitor customer transactions to detect and report suspicious behavior. Customer profiles will be updated as needed based on transaction activity and changes in risk level.

3. Cybersecurity Policy

Purpose: The purpose of this cybersecurity policy is to safeguard Nock Pay’s systems, networks, and data against unauthorized access, cyberattacks, and data breaches. Nock Pay is committed to ensuring the privacy and security of all customer and business data through robust cybersecurity measures.

Policy Overview: Nock Pay will implement stringent cybersecurity protocols to protect its digital infrastructure and ensure that all payment transactions are secure. This includes encryption, access control, continuous monitoring, and regular security audits.

Key Components:

• Data Encryption: Nock Pay will use encryption protocols (e.g., SSL/TLS) to protect sensitive data, including payment information, during transmission. Stored data will also be encrypted to ensure it remains secure.
• Access Control: Nock Pay will implement strict access controls, allowing only authorized personnel to access sensitive systems and data. Multi-factor authentication (MFA) will be used where necessary to strengthen security.
• Regular Security Audits: Nock Pay will conduct regular security audits, vulnerability assessments, and penetration testing to identify potential threats and ensure systems remain secure against cyberattacks.
• Incident Response Plan: In the event of a cybersecurity breach or data compromise, Nock Pay will follow a defined incident response plan to mitigate the impact, notify affected parties, and report the incident to relevant authorities within the required timeframes.
• Employee Training: All employees of Nock Pay will receive regular training on cybersecurity best practices, including phishing awareness, handling sensitive information securely, and responding to potential threats.
• Third-Party Security: Nock Pay will ensure that any third-party vendors or partners with access to Nock Pay’s systems or customer data also comply with Nock Pay’s cybersecurity standards and regulations.

4. Policy Enforcement and Compliance

Compliance Responsibility: The Compliance Officer at Nock Pay is responsible for ensuring that all policies, including AML, KYC, and Cybersecurity, are effectively implemented, maintained, and reviewed regularly. The officer will also oversee the training of staff on these policies and ensure that all employees understand their role in maintaining compliance.

Violations and Penalties: Any employee, contractor, or partner who fails to comply with these policies may face disciplinary actions, including termination or legal consequences. Nock Pay will also cooperate fully with authorities in the event of any regulatory investigation.

5. Updates and Review

Nock Pay will review and update this policy regularly to ensure that it remains compliant with evolving legal requirements and industry standards. Customers will be notified of any significant changes to these policies.

By following these policies, Nock Pay aims to ensure a secure, compliant, and trusted environment for all its customers while protecting both the company and its users from potential risks.