Betwinner KYC/AML Policy

1. Introduction

This Know Your Customer (KYC) and Anti-Money Laundering (AML) policy outlines the measures and procedures Betwinner implements to detect, prevent, and report attempts at money laundering, terrorism financing, and other illegal activities. Betwinner is committed to the highest standards of regulatory compliance within the jurisdictions it operates and adheres to strict KYC/AML protocols.

2. Know Your Customer (KYC) Procedures

Customer Identification Process (CIP)

  • Identification: All new customers must provide valid, government-issued photo ID (passport, ID card, driving license) and proof of address (utility bill, bank statement).
  • Verification: Information provided by customers is verified through reliable, independent sources (electronic verification, document checks).

Customer Due Diligence (CDD)

  • Risk-Based Approach: Customers are assessed and categorized based on the risk they present. Standard due diligence is applied to all customers, with additional information and monitoring for those posing higher risks.
  • Purpose of Account: Understanding the intended nature of the customer’s relationship with Betwinner, including transaction types and volume.

Enhanced Due Diligence (EDD)

  • For high-risk categories, such as politically exposed persons (PEPs) or those from high-risk jurisdictions, additional information on source of funds and wealth, detailed transaction monitoring, and senior management approval are required.

3. Anti-Money Laundering (AML) Procedures

Monitoring and Reporting

  • Continuous monitoring of transactions and customer behavior for signs of suspicious activity. Automated systems flag unusual patterns for review by the compliance team.
  • Reporting of suspicious activities to the relevant authorities in accordance with legal obligations.

Risk Assessment

  • Regular assessment of Betwinner’s exposure to money laundering and terrorism financing risks, adapting the KYC/AML procedures as necessary to mitigate these risks.

Compliance Program

  • A designated AML Compliance Officer is responsible for the implementation and oversight of the AML program.
  • Regular training for all employees on AML regulations, identification of suspicious activities, and the importance of compliance.
  • An internal audit function to periodically review compliance with KYC/AML policies and procedures.

4. Record Keeping

  • Retention of all KYC and transaction records for a minimum period as required by law, typically five to ten years after the customer relationship has ended.

5. Training and Awareness

  • Mandatory AML training for all new employees, with annual refreshers, to ensure staff are aware of their responsibilities and the procedures for detecting and reporting suspicious activities.

6. Technology Use

  • Deployment of advanced software solutions for the automated detection of suspicious transactions and activities, facilitating efficient and effective monitoring.

7. Review and Updates

  • This policy will be reviewed annually and updated as necessary to reflect changes in legislation, regulatory guidance, and operational practice.

8. Conclusion

Betwinner’s commitment to preventing money laundering and terrorism financing is a core aspect of our business ethics and legal compliance. This KYC/AML policy is central to our efforts to maintain a secure and trustworthy platform for all our customers and partners.

For further information or to report suspicious activities, please contact our Compliance Officer at [email protected].