At Clover-Gold , we are committed to adhering to all applicable laws and regulations concerning Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This policy outlines the measures we implement to prevent money laundering, terrorist financing, fraud, and other illegal activities.
1. Objectives
The key objectives of this policy are to:
- Verify the identity of all users (“Players”) to confirm they are who they claim to be.
- Prevent the use of our platform for money laundering, terrorist financing, or any other illicit activities.
- Ensure compliance with all relevant laws, regulations, and industry standards.
2. Scope
This policy applies to:
- All Players registering and using Clover-Gold.
- All employees, contractors, and third-party providers involved in managing Player accounts and transactions.
3. KYC Requirements
3.1. Player Identification
All Players must provide the following during registration:
- Full name
- Date of birth (to confirm legal gambling age)
- Residential address
- Email address and contact number
3.2. Document Verification
Players must submit supporting documents for identity verification, including:
- Proof of Identity: A government-issued ID, such as a passport, driver’s license, or national ID card.
- Proof of Address: A recent utility bill, bank statement, or official correspondence dated within the last three months.
- Payment Verification: For credit/debit cards or bank transfers, Players may need to submit a redacted copy of the card or bank statement for verification.
3.3. Enhanced Due Diligence (EDD)
Additional documentation and verification steps may be required for:
- High-risk Players.
- Players with unusually large or frequent transactions.
- Players from high-risk jurisdictions identified by the Financial Action Task Force (FATF).
4. AML Procedures
4.1. Monitoring Transactions
All Player transactions are monitored for suspicious activities, including:
- Large or irregular deposits/withdrawals that deviate from typical behavior.
- Multiple deposits from unrelated accounts or sudden changes in payment methods.
- Attempts to bypass verification limits or requirements.
4.2. Suspicious Activity Reports (SAR)
If suspicious activity is identified:
- A Suspicious Activity Report (SAR) will be filed with the appropriate regulatory authority.
- The Player’s account may be temporarily frozen pending investigation.
4.3. Record Retention
All KYC documents and transaction records are retained for at least five years as required by law.
5. Player Responsibilities
- Players must provide accurate and truthful information during registration and verification.
- Players are responsible for updating their account information promptly if any details change.
- Players must not use the platform for illegal activities, including money laundering or fraud.
6. Data Privacy
KYC and AML data is handled in strict accordance with our Privacy Policy. We utilize industry-standard security measures to protect Player information and only share data with regulatory authorities or as required by law.
7. Non-Compliance
- Failure to comply with KYC/AML requirements may result in account suspension or termination.
- Funds associated with accounts under investigation may be withheld until verification or legal resolution is complete.
8. Training and Awareness
All employees managing Player accounts and transactions receive regular training on KYC and AML procedures to ensure compliance and vigilance.
9. Reporting and Accountability
Our designated Compliance Officer is responsible for:
- Ensuring adherence to this policy.
- Filing required reports with regulatory authorities.
- Periodically reviewing and updating the KYC/AML policy.
10. Governing Laws
This policy is governed by the laws and regulations of the country in which Clover-Gold operates. In the event of conflict, local laws and regulations will take precedence.
11. Amendments
We reserve the right to update this policy as needed to address regulatory changes or enhance our processes. Players will be notified of significant changes via email or platform notifications.
By using Clover-Gold, players agree to comply with this KYC and AML Policy. Non-compliance may result in account restrictions, termination, and/or legal action.
