Welcome to sitebettingreview.com, your trusted source for comparing betting platforms (Compare Betting). We place the highest priority on security, transparency, and compliance. To ensure our platform is not misused for illicit financial activities, we implement a comprehensive Anti‑Money Laundering (AML) and Know Your Customer (KYC) policy. Below is a detailed, SEO‑friendly document that is aligned with EEAT and YMYL standards and explains how we verify identities, monitor transactions, manage risks, and act on suspicious behavior.
🎯 Purpose & Scope
This policy exists to prevent use of the Compare Betting platform for money laundering, terrorist financing, fraud, or other unlawful activities. It applies to all users and to all financial interactions: registration, deposits, withdrawals, transfers, and account updates. By enforcing strong identity verification, continuous monitoring, and risk‑based controls, we strive to maintain a safe, trustworthy, and legally compliant environment.
📜 Legal & Regulatory Foundations
- EU Directive 2015/849 — Preventing misuse of the financial system for money laundering.
- EU Regulation 2015/847 — Requirements for information accompanying fund transfers.
- Belgian Law of 18 September 2017 — Rules limiting cash use, imposing AML obligations.
- Directive 95/46/EC (Data Protection) — Safeguarding personal data and privacy rights.
💡 Definition of Money Laundering
Money laundering means disguising the origin of illicit funds so they appear legitimate. Common actions include:
- Converting or transferring property, knowing it comes from criminal activity.
- Concealing the true nature, origin, ownership, or movement of property.
- Acquiring, possessing, or using property known to derive from crime.
- Facilitating or attempting any of the above acts.
🏛 Governance & Compliance Structure
Ultimate Gaming NV’s senior management retains ultimate responsibility. An Anti‑Money Laundering Compliance Officer (AMLCO) is appointed to implement, monitor, audit, update this policy, and to train staff. All major changes to this policy must be approved by senior leadership to ensure consistency with legal obligations and integrity commitments.
✅ Three‑Step Verification (KYC) Process
Step 1: Basic Identity Verification
Before withdrawals are permitted, every user must provide:
- Full legal name (first & last)
- Date of birth
- Gender
- Country of residence
- Full residential address
Step 2: Document Verification
This step triggers when deposit or withdrawal amounts exceed USD 2,000:
- Upload a government-issued ID with a handwritten six-digit code
- Submit a selfie or facial photo matching the ID
- Automatic cross-checks against trusted databases
- If automated checks fail: submit proof of address (utility bill, government document, etc.)
Step 3: Source of Wealth / Funds (SOW)
This step is required when:
- Deposits or withdrawals exceed USD 5,000
- Transfers to other users exceed USD 3,000
In such cases, the user must provide credible documentation explaining the origin of funds—such as employment income, business profits, inheritance, or investments. Until verification completes, certain account features (withdrawals, transfers) may be restricted.
📌 KYC Documentation Requirements
Identity Documents
- Passport, national ID, or driver’s license
- All corners of the document must appear in the image
- User’s face must match the document photo
Proof of Address
- Utility bill, bank statement, or government letter
- Issued within the last 90 days
- Legible text, visible edges
Source of Wealth / Funds Documents
- Pay slips, employment contracts
- Business financial statements or tax returns
- Inheritance or investment documents
- Bank statements showing the flow of funds
🌍 Risk Classification & Jurisdiction Assessment
| Risk Level | Verification Strategy & Controls |
|---|---|
| Low Risk | Standard three-step verification |
| Medium Risk | Lower thresholds, enhanced review & monitoring |
| High Risk | Restricted access or refusal of service |
📊 Ongoing Monitoring & Surveillance
Automated Monitoring Systems
- Real-time detection of irregular deposit/withdrawal behavior
- Alerts for account anomalies (IP changes, device shifts, location variance)
Manual Compliance Review
- Flagged accounts are reviewed by compliance staff
- Cross-checking of documents, transactions, history, and patterns
Escalation & Reporting
- Confirmed suspicious activity is reported to Financial Intelligence Units (FIUs)
- Repeated violations may lead to account suspension, termination, or legal action
📂 Enterprise‑Wide Risk Assessment (EWRA)
Each year, we perform a comprehensive risk review covering:
- Transaction volumes, types, and behavioral trends
- User demographics and geographic exposure
- Payment and withdrawal channels used
- Emerging regulatory or financial risks
🗂️ Data Retention & Security
- KYC and identity data stored securely for at least 10 years after account closure
- Transaction logs encrypted and retained for 10 years
- Strict access control and privacy protections in place
📚 AML Training & Internal Controls
- Mandatory AML training for staff in finance, compliance, support
- Annual refresher courses aligned with evolving laws
- Training delivered by certified AML professionals
📣 Reporting Suspicious Conduct
All employees are required to report:
- Invalid or inconsistent user documentation
- Unexplained or suspicious funding sources
- Sudden changes in user behavior or transaction patterns
Such reports are escalated to the AMLCO and, when necessary, to relevant authorities.
🔐 Privacy & Data Protection
We respect your privacy profoundly. Your personal data will never be sold or shared unless legally mandated. We comply fully with GDPR and applicable data protection regulations to ensure confidentiality, transparency, and protection of user rights.
📞 Contact & Support
If you have questions or concerns about this AML / KYC policy for Compare Betting, please contact us:
- Email: [email protected]
📆 Policy Review & Updates
This policy is reviewed at least annually and whenever legal, operational, or technical changes demand. All updates are subject to approval by the AMLCO and senior management to ensure clarity, correctness, and compliance.