GemBet’s Anti Money Laundering (AML) policy is designed to provide the highest security standards to our users and casino clients. Through a thorough account verification process, we aim to confirm the accuracy of registered individuals’ data and prevent unauthorized use of deposit instruments.

Safety Measures

1. Account Verification

  • Three-step verification is implemented to ensure the accuracy of user data and prevent stolen or unauthorized use of deposit instruments.
  • Nationality, payment method, and withdrawal details are considered to tailor security measures based on individual circumstances.

2. Compliance Commitment

  • GemBet is committed to adhering to rigorous AML criteria, complying with EU directives, regulations, and national laws related to the prevention of money laundering.

3. Money Laundering Definition

  • Clear definition of money laundering activities, including property transfer, concealment of property origin, and participation in criminal acts.

Crime & Disorder and AML Policy

  • GemBet’s AML policy is based on principles of legal and regulatory compliance, risk assessment, and commitment from senior management.
  • Ongoing assessment of adequacy in systems and controls is conducted, with full support for the nominated officer.

Organization of AML

  • GemBet designates an Anti-Money Laundering Compliance Officer (AMLCO) responsible for enforcing the AML Policy.
  • The AMLCO operates under the immediate supervision of the general management.

Requirements for AML Policy Changes

  • Major changes to the AML policy require approval from both the general management and the AMLCO to ensure transparency.

Specific Regulations

  • GemBet adheres to specific EU directives and regulations, as well as national laws, to prevent money laundering effectively.

Three Steps of Verification

  1. Step One: Basic Details
    • Users perform self-identification by providing basic details.
  2. Step Two: ID Verification
    • Users depositing or withdrawing over $2,000 undergo ID verification.
  3. Step Three: Source of Funds Verification
    • Users depositing or withdrawing over $5,000 undergo source of funds verification.

Customer Identification and Verification (KYC)

  • Formal identification relies on documents like a passport, ID card, or driving license.
  • Additional checks may be conducted based on specific situations.

Proof of Address

  • Address proof is validated through electronic verifications, with manual submission options if electronic tests fail.

Source of Wealth (SOW)

  • Customers depositing over $5,000 undergo source of wealth verification.
  • Examples of SOW include business ownership, employment, inheritance, investments, and family money.

Essential Info for Step One

  • Users provide first name, second name, nationality, gender, and date of birth.
  • AI saves and creates documents, with personnel conducting additional checks if necessary.

Sanctions, Persons, and Entities of Special Interest, PEPs

  • Global PEP lists and sanction profiles are screened for all users to identify potential risks.

Risk Management

  • Categorization of nations into risk regions with specific verification steps based on risk levels.

Additional Measurements

  • AI overseen by the AMLCO examines unusual behavior, with human personnel conducting manual checks as needed.

Enterprise-Wide Risk Assessment

  • GemBet conducts an annual Enterprise-Wide Risk Assessment (EWRA) to identify and document risks associated with its business lines.

On-Going Transactions Monitoring

  • Ongoing transaction monitoring ensures detection of unusual or suspicious transactions compared to customer profiles.

Reporting Suspicious Transactions

  • Internal procedures guide the reporting of suspicious transactions, with the AML team analyzing and deciding on necessary actions.

Procedures

  • AML regulations, including KYC standards, are integrated into operational instructions available on the gambling portal.

Keeping Records

  • Records of customer identification data and transaction details are kept for at least ten years after the business relationship ends.

Training

  • Ongoing training programs for employees to enhance AML defense, with content adapted to specific business lines.

Auditing

  • Internal audits produce reports on AML activities, ensuring ongoing compliance.

Data Security

  • User data is kept secure, not sold, and shared only as required by law or for preventing money laundering.
  • Compliance with data protection directives is closely monitored.

GemBet is dedicated to maintaining the highest standards of AML compliance, ensuring a secure and responsible gaming environment for all users.