KYC & AML Policy

Know your Customer (“KYC”) and Anti-Money Laundering (“AML”) Policy

BetProtocol is committed to fighting against financial crime and implementing the most effective global standards. As part of its business approach, BetProtocol is committed to conducting its activities with integrity and complying with its legal, ethical and social responsibilities to protect its operators.

Our mission is to serve our operators by providing services that enable growth and progress. BetProtocol recognises its obligation to comply with AML laws and regulations to close off channels that criminals use for illicit purposes. We have also employed our best efforts and/or retained the services of competent third parties to ensure we implement proper policies, processes and controls in place to deter money laundering and other criminal offences against the company, our operators and stakeholders.

In the light of these principles, BetProtocol fulfils a set of duties, including, but not limited to :

- Consistent Operator due diligence procedures, which incorporates Operator Identification and Verification, Know Your Customer/Business Principles;
- Retain records of documents referring to customers and transactions;
- Screening Operators against sanctions lists;
- Application of an acceptance policy regarding sectors and high-risk countries;
- Adoption of internal control systems suitable for the money laundering and terrorism financing risk;
- Ensuring that all employees comply with applicable law and regulatory obligations;
- Train appropriate staff on the requirements of laws and regulations.

In addition, BetProtocol requires all our operators to display adequate KYC & AML Policies on the footer of their websites, for example:

[OPERATOR] reserves the right, at any time, to ask for any KYC documentation it deems necessary to determine the identity and location of a User. [OPERATOR] reserves the right to restrict service and payment until identity is sufficiently determined.
[OPERATOR] further reserves the right to share submitted KYC information and documentation to 3rd parties to verify the authenticity of submitted information, and the end user (you) agree to this by using the Service. 
[OPERATOR] reserves the right to confiscate any and all funds that are found to be in violation of relevant and applicable anti-money laundering (AML) and countering terrorism financing (CFT) laws and regulations, and to cooperate with the competent authorities when and if necessary. 
[OPERATOR] expressly prohibits and rejects the use of the Service for any form of illicit activity, including money laundering, terrorist financing or trade sanctions violations, consistent with various jurisdictions’ laws, regulations and norms. To that end, the Service is not offered to individuals or entities on any Politically Exposed Persons (PEP) lists, or subject to any United States, European Union, or other global sanctions or watch lists. By using the Service, end users represent and warrant that they are not on any such lists. 

We acknowledge that preventing criminal behaviour implies constant diligence and the ability to be observant with the upcoming schemes employed by criminals. We constantly work to identify and understand the potential risks and implement appropriate processes to mitigate such risks.