We prioritize the safety and security of both our users and business partners. Whether you’re renting out a property, offering dining experiences, or listing attractions, our robust Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures are designed to protect your business and ensure a professional marketplace.
Why KYC/CDD is Important for You as a Business Owner
By working with Irugoo, you’re joining a trusted network of hospitality providers across Eastern Africa. Our KYC and CDD procedures allow us to:
- Protect your business from fraud: Verifying users and transactions helps avoid fraudulent bookings and malicious activities.
- Ensure legal compliance: In Rwanda and globally, there are regulations businesses must follow to prevent money laundering and illegal activities.
- Foster trust: A secure and verified marketplace builds trust with travelers and local customers, boosting your reputation and increasing bookings.
How Irugoo Helps You Avoid Fraud and Protect Your Business
Our advanced KYC and CDD systems are built to protect you at every step. Here’s how we safeguard your business:
1. User Verification
Before any customer can make a booking, we verify their identity through a multi-step process, including:
- Document Verification: We ask for a government-issued ID (passport, national ID, or driver’s license) to ensure every user is who they say they are.
- Phone & Email Verification: Users must confirm their contact details by entering verification codes, reducing the chance of fake accounts.
2. Transaction Monitoring
We monitor transactions on Irugoo in real-time to detect unusual patterns, such as:
- Large or Unusual Transactions: If a user attempts an unusually high booking, we flag the transaction for review.
- Location Mismatch: If a user’s booking location and actual location don’t match up, we investigate to ensure everything is legitimate.
3. Risk-Based Approach
Not all users pose the same level of risk. For high-risk profiles—such as users with no booking history or those from higher-risk locations—we carry out Enhanced Due Diligence (EDD). This means:
- Additional Documentation: High-risk users may need to provide extra documents, like proof of income or a more thorough identity check.
- More Frequent Reviews: We monitor these accounts more closely to ensure all transactions are safe and legitimate.
4. Fraud Alerts and Notifications
If suspicious activity is detected on a booking made with your business, we’ll notify you immediately. This helps you stay informed and gives you the opportunity to take action quickly, avoiding any potential losses.
5. Secure Payout System
All payments processed through Irugoo are safeguarded with industry-standard encryption. We only release payments after verifying that the transaction is legitimate and the service has been delivered. This minimizes the risk of fraud and ensures you get paid securely and on time.
The KYC/CDD Process for Business Owners
As a business owner on Irugoo, we want to ensure that you’re equally protected. Here’s what you can expect during the onboarding process:
1. Business Registration
When you sign up to list your property, restaurant, or other services on Irugoo, we’ll ask for the following:
- Business License: Submit proof of your business registration and any necessary operating licenses (for hotels, restaurants, etc.).
- Identification: Provide a copy of a government-issued ID for the business owner or key personnel.
- Tax Information: For professional and tax purposes, we may request your business’s TIN (Taxpayer Identification Number).
2. Background and Risk Checks
We perform basic background checks on new business partners to verify:
- Legitimacy of the business: Ensuring the business exists, is properly registered, and operates within the law.
- Financial Stability: Checking the financial background of the business to minimize risk for customers.
3. Ongoing Monitoring
Once you’re part of the Irugoo platform, we continuously monitor your account for any suspicious activity, including:
- Changes in booking patterns: Significant changes in booking frequency, customer demographics, or the services you offer may trigger a review.
- Review of customer feedback: Consistent negative reviews may prompt an investigation to ensure there are no fraudulent activities involved.
How We Handle Disputes and Refunds
If a dispute arises over a booking—whether from suspected fraud or a customer complaint—we’ve got your back. Here’s how we handle these cases:
- Dispute Resolution Team: Our team will investigate the issue, review the booking data, and work to resolve it fairly.
- Fraud Protection: If a booking is deemed fraudulent after investigation, Irugoo will cancel it and refund any fees associated with the fraudulent transaction.
We also work closely with law enforcement if necessary to ensure fraudulent users are handled appropriately.
Compliance and Legal Requirements
As a business based in Rwanda, Irugoo follows all relevant local and international laws, including those related to anti-money laundering (AML) and counter-terrorism financing (CTF). By working with us, you ensure that your business remains compliant with:
- Rwanda’s Financial Laws: We operate under strict regulations that help prevent illegal activities and protect businesses.
- International Standards: Irugoo adheres to globally recognized standards, giving you peace of mind that your business is part of a secure, professional marketplace.
Ready to Partner with Us?
We’re excited to help you grow your business while ensuring a safe and secure experience for you and your customers. Our KYC/CDD procedures aren’t just about compliance—they’re about protecting your livelihood and ensuring you can focus on what you do best: offering exceptional travel and hospitality services.
Join Irugoo today and let’s build a trustworthy and successful marketplace together!
Have Questions?
Reach out to our support team at support@irugoo.com or visit our FAQ section for more details about KYC/CDD and how we protect you!