KYC and AML
Last Updated: February 4th, 2025
At Bet4yaar Casino, we are fully committed to preventing money laundering, the financing of terrorism, and all forms of illegal activity. In accordance with our internal AML Policy and applicable international regulations, we have implemented robust measures to verify the identity of our users, monitor transactions, and report any suspicious activities to the appropriate authorities.
1. Introduction
1.1 Scope and Purpose
This Policy sets forth the procedures and obligations regarding Customer Identification (KYC) and the prevention of money laundering (AML) and terrorist financing. Bet4yaar Casino adheres to all relevant laws, regulations, and international standards designed to prevent illegal financial activities and to safeguard the integrity of our operations.
1.2 Commitment to Compliance
Bet4yaar Casino employs strict internal controls and verification processes to ensure that:
- All funds deposited into user accounts are derived from legitimate sources.
- We comply fully with all applicable AML regulations and legal requirements.
- We promptly report any suspicions of funds being connected to money laundering or terrorism financing to the relevant authorities.
- In cases of suspicion, we reserve the right to block such funds and take further necessary measures as provided by our AML Policy and applicable law.
2. Definition of Money Laundering
Money laundering is defined as the process of concealing or disguising the origin, source, location, movement, or ownership of assets derived from criminal activities, or the conversion, transfer, receipt, possession, or use of such assets with the intent of concealing their illicit origin or assisting criminals in evading legal consequences. This includes instances where the assets originate from offenses committed in foreign jurisdictions.
3. Our AML and KYC Obligations
3.1 User Obligations
By creating an account on our website, you agree to the following:
- Compliance Assurance: You warrant that you will comply with all applicable laws and regulations related to AML and the financing of terrorism, including our internal AML Policy.
- Source of Funds: You confirm that, to the best of your knowledge, the funds you deposit are not derived from any illegal activities, are not connected with the legalization of illegally obtained income, and are free from any links to criminal activity.
- Provision of Information: You agree to promptly provide any information or documentation that we may require to ensure compliance with AML laws and regulations.
3.2 Data Collection and Verification
In order to comply with our AML obligations, Bet4yaar Casino will collect and securely store identification documents and records of all transactions associated with your account. This includes, but is not limited to:
- Primary Identification Checks:
- We will request the minimum necessary details to verify your identity. The minimum set of identification data typically includes:
- Your full name
- Date of birth (for natural persons)
- Residential address or registered address
- The source of the funds that you intend to deposit into your account
- We will request the minimum necessary details to verify your identity. The minimum set of identification data typically includes:
- Documentary Verification: To confirm the authenticity of the provided information, you may be required to submit documents such as a passport, national identification card, or other government-issued identification that clearly displays your name and date of birth.
- Ongoing Monitoring: In addition to the initial verification, we will continuously monitor your account and transactions for any signs of suspicious activity. Our systems are designed to flag transactions that may be associated with money laundering or terrorist financing.
3.3 Screening and Reporting
- Screening Procedures: Your personal data and identification documents will be checked against relevant lists of known or suspected terrorists and other individuals or entities subject to financial sanctions.
- Suspicious Transaction Monitoring: We continuously review transactions under conditions deemed higher risk. Should we have reasonable grounds to suspect that any transaction is linked to money laundering or other criminal activities, we reserve the right to:
- Deny or block the transaction at any stage.
- Report the suspicious activity to the relevant governmental or international authorities without any obligation to notify you.
4. Internal Controls and Record-Keeping
4.1 Record Retention
Bet4yaar Casino will record and securely store all identification data, verification documents, and transaction reports. This information is retained in accordance with applicable regulatory requirements and our internal policies.
4.2 Ongoing Identity Verification
We perform both initial and continuous identity verification based on the risk level associated with each user. This process ensures that your identification details remain current and accurate throughout your relationship with us.
4.3 Right to Refuse Transactions
At any time, if we have grounds to believe that a transaction is linked to money laundering or any other criminal activity, we reserve the right to refuse or cancel that transaction in full compliance with international and domestic laws. In such cases, you may not be notified that your activity is under review or that a report has been made to the authorities.
5. User Acknowledgement
By creating and using an account on our website, you acknowledge and agree to:
- Provide accurate and complete information during the registration and verification processes.
- Cooperate fully with any requests for additional information or documentation.
- Understand that failure to comply with these obligations may result in account suspension, closure, or other legal measures in accordance with our AML Policy.
6. Contact Information
If you have any questions regarding this KYC and AML Policy or require further clarification, please contact our Compliance Department at:
- Email: support@bet4yaar.com
This KYC and AML Policy is provided for informational purposes only and does not constitute legal advice. Please consult with a legal professional to ensure that your policies comply with all applicable laws and regulations.