Security & Compliance
At ShunkuPay, we are dedicated to providing a secure, compliant, and cutting-edge financial platform. Our commitment to safeguarding your data is reflected in the comprehensive, multi-layered security architecture we employ, ensuring the safety and privacy of every transaction.
We integrate end-to-end encryption to secure sensitive data, multi-factor authentication (MFA) for extra account protection, and real-time fraud detection algorithms that actively monitor and halt suspicious activity.
ShunkuPay is pushing boundaries by combining Web 2.0 ease with Web 3.0 features through Web 2.5 technologies. Our hybrid approach incorporates elements of distributed ledger systems, providing transparency and traceability while maintaining the usability of centralized systems. This allows us to deliver next-gen financial services without compromising on simplicity or user-friendliness.
We strictly adhere to the Central Bank of Nigeria (CBN) Fintech Regulations to ensure compliance with all local financial and data protection laws. We also follow the CBN Guidelines for Digital Assets to offer cryptocurrency and digital asset services responsibly within Nigeria's regulatory framework.
As a licensed Microfinance Bank (MFB), we follow the CBN Guidelines for MFBs to ensure capital adequacy, liquidity management, and strong risk mitigation strategies. This allows us to provide secure, compliant services to small businesses and individuals alike.
ShunkuPay implements AES-256 encryption to protect user data, following the highest global standards. Additionally, we secure all communications between users and our platform using SSL/TLS protocols, ensuring complete protection against data breaches and unauthorized access.
Our AI-powered risk management systems detect and prevent fraudulent activities by monitoring behavioral patterns in real time. We adhere to strict KYC and AML guidelines to ensure that only verified users gain access to our platform.
All our services undergo regular audits for compliance with CBN regulations. Our strict adherence to CBN Digital Assets Guidelines ensures a legal and secure platform for managing digital assets, guaranteeing both security and regulatory peace of mind.