ShakeBet Anti-Money Laundering (AML) Policy

ShakeBet is committed to maintaining the highest standards of integrity and regulatory compliance.
This Anti-Money Laundering (AML) Policy outlines the measures, responsibilities, and controls we have in place to prevent our platform from being used for money laundering, terrorist financing, or other illicit activities.
By accessing or using ShakeBet, you agree to follow the principles and requirements described in this policy.

1. Policy Objectives

Our AML framework is designed to:

  • Prevent the use of ShakeBet for money laundering or terrorist financing.

  • Ensure compliance with all applicable local and international AML laws and regulations.

  • Protect the operational integrity and reputation of ShakeBet.

  • Promote transparency and accountability in all financial transactions.

2. AML Compliance Program Overview

2.1 Customer Due Diligence (CDD)

We apply strict verification processes to confirm the identity and legitimacy of all users. This includes:

  • Identity Verification: Customers must provide valid, independent documents or data sources for identity checks.

  • Ongoing Monitoring: All customer activity is monitored to detect patterns or behavior indicative of financial crime.

  • Enhanced Due Diligence (EDD): Additional scrutiny is applied to high-risk customers or transactions.

2.2 Record Retention

We maintain records in line with legal requirements, including:

  • Verified customer identification data.

  • Complete transaction logs and payment records.

  • Documentation of reported suspicious activities.
    These records are securely stored and retained for the legally mandated period.

2.3 Suspicious Activity Reporting

We follow a defined process for handling potential financial crime:

  • Internal Reporting: All employees are trained to identify and report potential red flags to the AML Compliance Officer.

  • External Reporting: Where required, Suspicious Activity Reports (SARs) are submitted to relevant regulatory authorities.

3. Employee Training and Awareness

We ensure all employees receive ongoing AML training to:

  • Recognize the risks of money laundering and terrorist financing.

  • Identify warning signs and suspicious activities.

  • Follow correct reporting and documentation procedures.
    Training is updated regularly to reflect changes in laws and emerging risks.

4. Risk-Based Approach

4.1 Ongoing Risk Assessment

Our AML measures are based on continuous risk evaluation:

  • Assessing the risk profile of customers, products, and services.

  • Applying proportionate controls to mitigate identified risks.

  • Adjusting due diligence requirements based on customer risk levels.

5. Roles and Responsibilities

5.1 AML Compliance Officer

A dedicated AML Compliance Officer is responsible for:

  • Overseeing the daily operation of AML measures and controls.

  • Monitoring compliance with internal and external requirements.

  • Coordinating with regulatory and law enforcement authorities.

  • Conducting internal audits and program evaluations.

5.2 Management and Employees

All ShakeBet staff and management must:

  • Follow all AML-related procedures.

  • Attend AML training and refresher sessions.

  • Report any unusual or suspicious activity immediately.

6. Policy Review and Updates

This AML Policy is reviewed regularly to ensure it reflects current laws, regulations, and industry best practices. Significant updates are communicated to staff and, where relevant, to customers.

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