Aml Policy

Scope and Purpose

This Anti‑Money Laundering (AML) Policy establishes Betpanda’s framework to prevent money laundering and the financing of terrorism in accordance with applicable laws and regulatory expectations. The policy applies to all customers, contractors, and employees engaged in the provision or use of Betpanda services, and governs identity verification, ongoing monitoring, reporting of suspicious activity, and data handling related to AML controls.

Definitions

For the purposes of this policy, the following terms have the meanings stated: money laundering means the concealment or disguise of the origins of illegally obtained funds; terrorist financing means the possession or deployment of funds or assets to support terrorism; customer due diligence (CDD) refers to initial identity verification and risk assessment; enhanced due diligence (EDD) refers to intensified checks for higher‑risk customers or transactions; politically exposed person (PEP) denotes an individual who is a public official with a high risk of involvement in illicit activity; high‑risk jurisdiction describes a country or territory identified by Betpanda as presenting AML risk; and suspicious activity refers to any transaction or pattern of behavior that may indicate money laundering or related crimes.

Know Your Customer and Verification (KYC/IDV)

Betpanda may request identity verification at any time. Verification is required prior to processing withdrawals and may be invoked again to confirm identity during ongoing activity. Betpanda will restrict withdrawal capabilities if verification is incomplete or ongoing checks cannot be concluded.

  • Identity verification: Acceptable government‑issued documents include a passport, national identity card, or driver’s license. The document must be valid and clearly display the user’s full name, date of birth, and photograph.
  • Address verification: Acceptable documents dated within the last three months include utility bills (electricity, water, gas, internet, or phone), bank statements, or official government correspondence showing the user’s name and residential address.
  • Payment verification: For security, Betpanda may require verification of the payment method, including a copy of the front side of the payment card (first six and last four digits visible, CVV concealed) or an electronic wallet/bank statement confirming ownership. Scanned copies are not accepted for verification.
  • Age requirement: All participants must be at least 18 years old or the legal gambling age in their jurisdiction. If age cannot be confirmed, Betpanda will suspend or close the account as appropriate.
  • Evidence of funds when required: Betpanda may request information demonstrating the source of funds in connection with verification or when assessing risk.
  • Verification threshold: If cumulative deposits or withdrawals reach €500 or the equivalent, additional verification may be demanded to proceed with further activity.

Ongoing Monitoring and Record Keeping

Betpanda maintains comprehensive records of all transactions and related account activity. Accounts are subject to ongoing monitoring for indicators of AML risk, including unusual or pattern-based activity, cross‑referenced with system and communications logs to detect potential collusion or illicit activity. Betpanda maintains a register of high‑risk customers and politically exposed persons (PEPs), who are subject to heightened scrutiny and more frequent checks. Systems and controls cover people, processes, and technology to detect and deter money laundering and related frauds.

Enhanced Due Diligence (EDD)

For high‑risk customers or transactions, Betpanda will apply Enhanced Due Diligence, including additional identity verification, review of source of funds, enhanced transaction monitoring, and, where necessary, additional documentation to support the legitimacy of funds and business purpose.

Prohibited Jurisdictions and Restricted Accessibility

Betpanda restricts access and participation from jurisdictions where participation in online gambling is prohibited or where regulatory conditions render compliance untenable. Betpanda maintains a current internal list of prohibited jurisdictions and may update it in accordance with regulatory guidance. Users located in prohibited areas will not be accepted or may have their access terminated.

Data Protection, Retention, and Privacy

Betpanda acts as the data controller and processor for personal data collected in connection with AML activities. Personal data are processed to comply with AML laws, with lawful bases including consent, contract, and legitimate interests. Betpanda will retain personal data for a minimum of eight years from the date of last interaction or longer where required by applicable law or regulation. Individuals have rights to access, rectify, erase, restrict processing, or object to processing, and to withdraw consent where applicable. Personal data may be shared with regulators, financial institutions, and service providers as necessary for AML compliance and safe operation of Betpanda services.

Reporting, Cooperation with Authorities, and Whistleblowing

Betpanda is committed to timely reporting of suspicious activities. Any suspected money laundering or terrorist financing will be investigated by Betpanda’s designated AML compliance function and, as required by law, may be reported to the competent regulator or Financial Intelligence Unit (FIU). Betpanda will cooperate with regulatory authorities and, when appropriate, share information with counterparties and financial institutions to ensure compliance with AML obligations.

Internal Controls, Training, and Governance

Betpanda maintains an AML‑compliant governance structure. Employees receive ongoing training on money laundering indicators, proper identification procedures, and escalation protocols. The AML compliance function operates with defined authority to enforce remediation measures, suspend or close accounts, and initiate investigations in coordination with management and regulatory obligations.

Consequences of Non‑Compliance

Providing false, misleading, or incomplete information violates Betpanda terms and may result in immediate account termination, forfeiture of winnings, withholding of funds, and reporting to regulatory authorities as permitted by law.

Questions, Appeals, and Contact Details

For questions about this AML Policy or to submit verification or data requests, contact Betpanda’s AML compliance team at: [email protected]. For general support or privacy inquiries, please use the standard support channels available to Betpanda customers.