ANTI-MONEY LAUNDERING/COMBATING THE FINANCING OF TERRORISM
Bilbet, a prominent betting company, is committed to taking all necessary measures to combat money laundering and international terrorism through its robust Anti-Money Laundering (AML) policy. The company firmly positions itself against all forms of illicit activities and strives to prevent them from occurring. In line with this commitment, Bilbet is obligated to promptly inform the appropriate authorities if there are any suspicions regarding funds deposited by users that may be connected to illegal activities or the financing of terrorism. Furthermore, the company is obliged to freeze such funds and undertake actions prescribed by its AML policy.
Money laundering encompasses various activities designed to obscure the origins, movement, ownership, and rights associated with illegally obtained assets. It entails the conversion, transfer, acquisition, possession, or utilization of proceeds derived from criminal endeavours, enabling individuals involved in illegal acts to evade legal repercussions. Moreover, money laundering can occur when assets are acquired through criminal activities committed in a different jurisdiction. This process allows perpetrators to mask the illicit source of funds and integrate them into legitimate financial systems. By engaging in money laundering, individuals seek to distance themselves from their illegal activities and protect their ill-gotten gains from law enforcement scrutiny. The complexity and global nature of money laundering pose significant challenges to the detection and prevention of this illicit practice, requiring robust anti-money laundering measures and international cooperation to combat it effectively.
Bilbet is fully committed to combatting money laundering and terrorism financing by strictly adhering to internal regulations and implementing specialized measures. The company actively supports global endeavours aimed at preventing the infiltration of criminal funds into the economy. Through its steadfast dedication and collaboration with international organizations, Bilbet plays a pivotal role in the fight against these unlawful activities, ensuring a secure and transparent betting environment. By prioritizing the implementation of robust anti-money laundering measures, Bilbet contributes significantly to the global efforts to safeguard financial systems and deter the financing of terrorism.
When users open an account with Bilbet, they agree to comply with all applicable laws and regulations related to the prevention of money laundering and terrorism financing, including the company’s AML policy. Additionally, users confirm that they have no knowledge or suspicions about the funds they deposit being derived from illegal sources or having any connection to the illegal legalization of income or other unlawful activities prohibited by local laws or international directives. Users also agree to promptly provide any information requested by Bilbet to fulfil its obligations in combating the laundering of illegally obtained funds.
As part of its AML procedures, Bilbet collects and securely retains users’ passports or other identification documents. The company also maintains records of any changes made to user accounts. Additionally, Bilbet actively monitors all activities on users’ accounts, particularly transactions conducted under special circumstances. If the company suspects any money laundering or criminal activity, it reserves the right to suspend a user’s account without prior notice. According to international law, Bilbet is not obliged to inform the user about their suspicious activities or disclose the transmission of such information to relevant authorities.
To ensure compliance with AML regulations, Bilbet conducts both initial and ongoing verification procedures to authenticate users’ identities based on the level of risk associated with each user. During the verification process, the company may request minimal information to confirm the user’s identity. Bilbet diligently records and retains all relevant data and identification information, along with the methods and results of the verification procedures. The user’s personal data is cross-checked against lists of individuals suspected of involvement in terrorism, which are compiled by authorized state and independent authorities. The minimum set of identification data includes the user’s full name, date of birth (for individuals), residential address, registered address, and the sources of funds intended for deposit into the account.
In order to validate and verify the information provided by users, Bilbet has the authority to request supporting documents such as passports, identification cards, or similar forms that include the user’s name, date of birth, and photograph. Additionally, the company may also require recent payment receipts for utility bills issued by national public authorities or other acceptable documents as evidence of the user’s address, provided they are no older than three months. These measures are implemented to uphold the accuracy and reliability of user data, in accordance with Bilbet’s unwavering commitment to combatting money laundering and the financing of terrorism. By ensuring these verification procedures, Bilbet creates a secure environment for its users, safeguarding against illicit activities while upholding the integrity of its platform.
In certain circumstances, Bilbet may find it necessary to request additional information from users, accompanied by relevant supporting documents. To ensure compliance and accuracy, the company also reserves the right to ask for notarized copies of the required documents when deemed appropriate. These measures are in place to maintain the highest standards of security and integrity in accordance with Bilbet’s commitment to combating money laundering and terrorism financing. By implementing these procedures, Bilbet strives to create a trustworthy environment for its users and actively contributes to global efforts against illicit activities.
Bilbet remains steadfast in its commitment to combat money laundering and terrorism financing by enforcing stringent policies and fostering active collaboration with international organizations and authorities. Through its proactive approach and comprehensive measures, the company establishes a secure and responsible betting platform, ensuring the safety of its users. Moreover, Bilbet actively contributes to global initiatives aimed at preventing and deterring illicit activities. By prioritizing security and accountability, Bilbet reinforces its dedication to maintaining a trustworthy environment. The company actively engages in collective efforts to combat illegal financial practices and the funding of terrorism, recognizing the importance of playing its part in combating these global challenges. Through its actions and commitments, Bilbet demonstrates its unwavering resolve to uphold integrity, responsibility, and safety within its operations and contribute to broader global efforts against illicit activities.