To protect the interests of our players and comply with international regulations, we have implemented a robust Anti-Money Laundering (AML) policy. This policy outlines our procedures to detect, prevent, and report any activities related to money laundering and other financial crimes.

Our AML measures are in line with global best practices and legal requirements, ensuring that SpinBetter remains a safe and transparent environment for all users. By using our platform, you agree to comply with the provisions outlined in this policy.

What Is Money Laundering?

Money laundering is the process of disguising the origins of illegally obtained money to make it appear legitimate. Criminals often use financial institutions, businesses, or online platforms to “clean” their illicit funds. This process typically involves three stages:

  • Placement: Introducing unlawful money into the financial system.
  • Layering: Transferring the money through multiple accounts or transactions to obscure its source.
  • Integration: Reintroducing the funds into the economy as legitimate assets.

The gaming and betting industry can be a target for money laundering activities due to its financial nature. At SpinBetter, we are vigilant in identifying and combating such risks.

Our Commitment to AML Compliance

SpinBetter takes its responsibilities seriously in the fight against money laundering. Our AML policy is designed to:

  • Prevent the use of our platform for illegal activities.
  • Detect suspicious transactions and behavior.
  • Report such activities to relevant authorities in a timely manner.
  • Protect our platform and players from financial fraud and other crimes.

Our AML framework is continuously updated to reflect changes in laws, regulations, and industry best practices.

User Verification (Know Your Customer – KYC)

One of the most important components of our AML policy is our Know Your Customer (KYC) procedures. These procedures help us verify the identity of our users and ensure that they meet the legal requirements to use our platform.

Registration Requirements

To create an account on SpinBetter, users must provide accurate and complete information, including:

  • Full name
  • Date of birth
  • Residential address
  • Email address
  • Phone number

Identity Verification

SpinBetter may request additional documentation to verify the identity of users, such as:

  • Government-issued identification (passport, ID card, or driver’s license)
  • Proof of address (utility bill or bank statement)
  • Source of funds documentation

Failure to provide the requested information may result in account suspension or closure.

Enhanced Due Diligence (EDD)

For high-risk accounts or transactions, SpinBetter may conduct Enhanced Due Diligence (EDD). This involves a deeper analysis of the user’s activities and the source of funds to ensure compliance with AML regulations.

Transaction Monitoring

To detect and prevent suspicious activities, SpinBetter employs advanced transaction monitoring systems. These systems analyze user transactions in real time, identifying patterns and anomalies that may indicate money laundering or other financial crimes.

  • Deposits or withdrawals that are inconsistent with a user’s profile or gaming activity.
  • Multiple transactions conducted in a short period without a clear purpose.
  • Use of multiple payment methods or accounts for a single user.
  • Frequent deposits and withdrawals without engaging in actual gaming or betting.

If a transaction is flagged as suspicious, our compliance team will review it and take appropriate action, which may include freezing the account or reporting the activity to authorities.

Reporting Suspicious Activities

SpinBetter is obligated to report any suspicious activities to relevant financial authorities. This process is conducted in strict confidence and in compliance with applicable laws.

A Suspicious Activity Report (SAR) is filed when our compliance team identifies transactions or behavior that may indicate money laundering or other illegal activities. Once filed, the SAR is reviewed by regulatory authorities for further investigation.

While we are committed to protecting user privacy, our legal obligations require us to share certain information with authorities when necessary. We handle such matters with the utmost care to safeguard the trust and security of our players.

Restrictions on Transactions

To reduce the risk of money laundering, SpinBetter imposes certain restrictions on financial transactions.

Deposit and Withdrawal Limits

  • Minimum and maximum deposit and withdrawal limits are applied to all accounts.
  • Large or unusual transactions may require additional verification.

Payment Methods

  • SpinBetter only supports reputable payment methods, including credit cards, e-wallets, and cryptocurrencies.
  • Payments from third-party accounts are prohibited; users must ensure that all transactions are conducted from accounts registered in their own name.

Account Freezing

In cases where suspicious activities are detected, SpinBetter reserves the right to freeze accounts temporarily. This allows our compliance team to investigate the matter thoroughly before resuming normal operations.

Training and Awareness

Our commitment to AML compliance extends to our employees and stakeholders. SpinBetter provides regular training and resources to ensure that all team members understand their responsibilities under the AML framework.

Employee Training

  • Identifying and reporting suspicious activities.
  • Understanding AML laws and regulations.
  • Familiarity with KYC and transaction monitoring procedures.

Raising Awareness

We encourage our users to remain vigilant and report any suspicious activities or behaviors. By working together, we can create a safer environment for everyone.

User Responsibilities

As a user of SpinBetter, you play an important role in supporting our AML efforts. By agreeing to this policy, you commit to:

  • Providing accurate and truthful information during registration and verification.
  • Using only legitimate funds for deposits and withdrawals.
  • Avoiding any activities that may be considered illegal or unethical.
  • Reporting any suspicious activities or security concerns to our support team.

Failure to comply with these responsibilities may result in account suspension, closure, or legal action.

International Compliance

SpinBetter operates in multiple jurisdictions and complies with the AML regulations of each region. Our platform adheres to international standards set by organizations such as:

  • The Financial Action Task Force (FATF)
  • The European Union (EU) Anti-Money Laundering Directives
  • The United Nations Office on Drugs and Crime (UNODC)

We cooperate fully with international authorities to prevent and combat financial crimes across borders.

Policy Review and Updates

Our AML policy is reviewed regularly to ensure its effectiveness and compliance with evolving regulations. Updates to this policy will be communicated to our users through official channels.