1. Purpose and Commitment
BetVictor casino is committed to preventing money laundering and the financing of terrorism through the services provided on mammarosanz.com. We are fully dedicated to complying with all applicable Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) laws and regulations, including those set forth by New Zealand’s Financial Intelligence Unit (FIU) and international best practices.
This policy outlines our procedures for detecting, preventing, and reporting suspicious activities and transactions in accordance with our legal obligations.
2. What is Money Laundering?
Money laundering refers to the process of disguising the origins of illegally obtained money so that it appears to be derived from legitimate sources. This process typically involves three stages:
- Placement – Introducing illicit funds into the financial system
- Layering – Concealing the source through complex transactions
- Integration – Reintroducing laundered money into the legitimate economy
3. Risk-Based Approach
BetVictor uses a risk-based approach (RBA) to AML, assessing the risks posed by customers, transactions, and geographies. This allows us to apply appropriate due diligence measures based on the level of risk presented.
4. Know Your Customer (KYC)
As part of our AML framework, BetVictor implements robust Know Your Customer (KYC) procedures:
a) Identity Verification
We require customers to provide the following before being permitted to gamble or withdraw funds:
- Full name
- Date of birth
- Residential address
- Government-issued identification (passport, driver’s license, or national ID)
- Proof of address (e.g., utility bill, bank statement dated within 3 months)
b) Enhanced Due Diligence (EDD)
For higher-risk accounts (e.g., large transactions, high-velocity gaming, or customers from high-risk jurisdictions), additional documentation and verification may be required.
5. Ongoing Monitoring
We conduct continuous monitoring of customer activity to detect suspicious or unusual patterns. Examples include:
- Sudden large deposits or withdrawals
- Frequent transactions inconsistent with normal behavior
- Use of multiple accounts or aliases
- Use of third-party payment methods
- Refusal to provide KYC documents
6. Reporting Obligations
We are legally obligated to report any suspicious activity to the appropriate authorities. This includes:
- Filing Suspicious Activity Reports (SARs) with the New Zealand Financial Intelligence Unit (FIU)
- Cooperating fully with law enforcement agencies upon lawful request
Our compliance team maintains records of such reports and customer data in accordance with applicable data retention requirements.
7. Employee Training
All BetVictor employees receive ongoing training on AML/CTF responsibilities, including:
- Recognizing signs of money laundering or terrorist financing
- Understanding internal reporting procedures
- Maintaining confidentiality of SARs
- Regulatory developments and updates
8. Record Keeping
We retain customer identification documents, transaction history, and AML-related records for a minimum of 5 years after the end of the business relationship or from the date of the last transaction, in line with legal obligations.
9. Prohibited Activities
BetVictor prohibits the following:
- Opening anonymous or fictitious accounts
- Accepting cash deposits
- Allowing third-party transactions or transfers
- Accepting funds from or making payouts to individuals other than the registered account holder
- Offering services to individuals or entities listed on global sanctions lists
10. Sanctions Compliance
We screen all customers against international sanctions and watchlists, including those issued by:
- The United Nations
- The Office of Foreign Assets Control (OFAC)
- The European Union
- New Zealand Government
Accounts linked to sanctioned individuals or entities will be suspended or terminated and reported to the relevant authority.
11. Policy Review
This AML Policy is reviewed annually or as required to reflect changes in regulations, risks, and our business practices.
12. Contact Information
If you have any questions or concerns regarding our AML Policy or wish to report suspicious activity, please contact us:
📍 BetVictor
23 Queen Street, Blenheim Central, Blenheim 7201, New Zealand
📧 Email: [email protected]
🌐 Website: mammarosanz.com
