Anti-Money Laundering (AML) Policy

Introduction

BetMania.ag, operated by INTERNATIONAL RADICAL INVESTMENT SOCIEDAD ANONIMA (hereinafter referred to as "BetMania"), is dedicated to preventing money laundering and terrorist financing activities by adhering to applicable laws and regulations. This policy outlines BetMania’s commitment to implementing effective measures for detecting, preventing, and reporting suspicious activities.

Legal and Regulatory Framework

BetMania operates under the laws of Costa Rica and is licensed in Curaçao under Licence GLH-OCCHKTW0703302016 issued by Gaming Services Provider N.V. BetMania strictly complies with AML regulations and guidelines established by these jurisdictions, as well as international standards.

Appointment of AML Compliance Officer

BetMania has designated an AML Compliance Officer responsible for overseeing the implementation of this policy, ensuring adherence to relevant regulations, and continuously assessing the effectiveness of AML procedures.

Customer Due Diligence (CDD)

  • Identification and Verification: BetMania conducts thorough CDD on all customers to verify their identity using reliable sources. This includes obtaining and verifying identification documents such as passports or national ID cards to ensure accuracy.
  • Enhanced Due Diligence (EDD): Enhanced due diligence is conducted for higher-risk customers, including politically exposed persons (PEPs) and those from high-risk jurisdictions. Additional information and senior management approval are required before establishing business relationships.
  • Ongoing Monitoring: BetMania continually monitors customer transactions and account activities to detect any unusual or suspicious patterns indicative of potential money laundering or terrorist financing activities.

Reporting of Suspicious Activity

  • Internal Reporting: Employees of BetMania are mandated to promptly report any suspicious transactions or activities to the designated AML Compliance Officer upon identification.
  • External Reporting: BetMania is committed to filing SARs with relevant authorities as required by law and cooperating fully with law enforcement agencies during investigations related to money laundering or terrorist financing.

Record Keeping

BetMania maintains comprehensive records of all transactions, customer identification and verification documents, and SARs for the period stipulated by applicable laws and regulations.

Employee Training

Regular training is provided to all BetMania employees to ensure they are well-informed about identifying and managing transactions and activities that may indicate money laundering or terrorist financing. Training programs are updated regularly to align with current legal requirements and best practices in the industry.

Risk Assessment and Management

  • Risk Assessment: BetMania conducts periodic assessments to identify and evaluate the risks associated with money laundering and terrorist financing in its business operations. Factors considered include customer profiles, transaction volumes, geographical locations, and types of services offered.
  • Risk Mitigation: Based on the risk assessment findings, BetMania implements risk-based controls and mitigation measures, including:
    1. Enhanced Transaction Monitoring: Using automated systems to monitor transactions in real-time to detect suspicious patterns or behaviors.
    2. Transaction Limits and Controls: Setting transaction limits based on customer risk profiles and subjecting transactions exceeding predetermined thresholds to enhanced scrutiny.
    3. Enhanced Due Diligence: Implementing additional due diligence measures for high-risk customers, including more rigorous verification processes and ongoing monitoring.
    4. Suspicious Activity Reporting: Establishing clear procedures for promptly reporting suspicious activities both internally and externally to relevant authorities.

Definition of Money Laundering

Money laundering involves criminals disguising the origins of illegally obtained money through complex financial transactions to make it appear as though the money has been legitimately acquired.

Compliance Review

The AML Compliance Officer conducts regular reviews of BetMania’s AML Policy and procedures to assess their effectiveness and makes necessary updates or improvements as required.

Conclusion

BetMania is dedicated to maintaining a robust AML compliance framework to protect its operations and contribute to global efforts against financial crimes. This AML Policy undergoes periodic review and updates to ensure compliance with evolving regulatory requirements and industry standards.