LakiRemit

Privacy Policy

This Privacy Policy explains how LakiRemit (referred to as "LakiRemit," "we," "us," or "our") collects, uses, shares, and protects the personal information of users ("you" or "user") of the LakiRemit mobile application and its related remittance services.

Effective Date: December 2025

By downloading, accessing, or using the LakiRemit App, you agree to the collection and use of your information in accordance with this policy.

1. Information We Collect

We only collect the minimum information necessary to create and secure your account and comply with global financial regulations.

1.1. Information You Provide Directly

This is the data you provide to create your LakiRemit account:

  • Account Registration Data: Full name and email address.
  • Recipient Data: To process a remittance, you must provide the necessary details of the person receiving the local Ethiopian Birr, which includes their full name, and their local bank account or mobile money payment details.

1.2. Regulatory Compliance Data (KYC/AML)

To comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, we must confirm your identity. Depending on the volume and type of transaction, we may collect or require you to submit:

  • Identification Data: Date of birth, nationality, phone number, and copies of government-issued IDs or documents required for identity verification.

Note on Collection: This data may be collected directly by us or collected and verified by our third-party payment/compliance partners, who then share confirmation status with LakiRemit.

1.3. Information Handled by Third-Party Payment Gateway

We do not directly collect or store sensitive financial data, such as credit card numbers or bank account details used to fund the remittance. This information is collected, processed, and secured directly by our trusted third-party payment gateway providers.

1.4. Information We Collect Automatically

When you use the App, we automatically collect certain information:

  • Device Information: Device model, operating system version, unique identifiers, and IP address (used for fraud prevention).
  • Usage Data: Details about how you interact with the App.
  • Transaction Information: Details of your remittance, including amounts, currency, and timestamps.

2. How We Use Your Information

We use the collected information for the following specific purposes:

  • Account Provision: To create, maintain, and secure your LakiRemit account (Name and Email).
  • Transaction Processing: To facilitate the conversion of foreign currency and disbursement of Ethiopian Birr to your designated recipient (Recipient Data).
  • Legal Compliance (AML/KYC): To verify your identity and monitor transactions to prevent fraud and financial crime, as required by law (Identification Data).
  • Communication: To send you service announcements, security alerts, and support messages (Email).
  • App Improvement: To analyze usage trends and improve the App's functionality and performance.

3. How We Share Your Information

We do not sell your personal information. We share your information only as necessary to provide the remittance service and meet legal obligations:

  • Payment and Compliance Providers: We share necessary data (e.g., name, identification status, transaction details) with our third-party payment gateways and identity verification services to process your funds and ensure compliance.
  • Recipient Financial Institutions: We must share the recipient's name and payment details with the Ethiopian financial services providers (banks or mobile money operators) responsible for delivering the local currency.
  • Regulators and Law Enforcement: We may disclose your information when legally required by governmental authorities or regulatory bodies to meet compliance requirements.

4. Data Security, Storage, and Retention

Security

We employ technical and organizational security measures (like encryption and access controls) to protect your collected data.

Storage Location

Your information may be stored and processed outside of your country of residence, including in Ethiopia, as necessary to provide the cross-border service.

Retention

We retain your personal information for as long as your account is active and for a mandatory regulatory period after account closure, as required by Anti-Money Laundering and financial laws.

5. Contact Us

If you have any questions or concerns about this Privacy Policy or how we handle your data, please contact us:

6. Changes to This Privacy Policy

We may update this policy periodically. We will notify you of any material changes by posting the new policy within the App and updating the "Effective Date" at the top.