Anti-Money Laundering and Know Your Customer Policy

MelBet is committed to preventing money laundering, terrorist financing, and other financial crimes conducted through its platform. This policy sets out the procedures and controls we implement to comply with international Anti-Money Laundering (AML) regulations and Know Your Customer (KYC) requirements. All users are expected to cooperate with these procedures as a condition of using our services.

Purpose and Legal Framework

The purpose of this policy is to establish a clear framework for identifying, assessing, and mitigating the risks of money laundering and financial crime. MelBet operates under an international gaming licence and adheres to applicable AML legislation, including requirements set by regulatory bodies such as the Philippine Amusement and Gaming Corporation (PAGCOR). Our AML programme is designed to detect suspicious financial activity, verify the identity of our users, maintain accurate records, and report suspicious transactions to the relevant authorities when required by law.

Know Your Customer (KYC) Verification

KYC verification is a mandatory process that confirms the identity, age, and address of each user. Verification is required before the first withdrawal is processed and may be requested at any point during the account lifecycle if additional checks are deemed necessary.

Required Documents

To complete KYC verification, users must provide the following:

• Proof of identity — A valid government-issued photo ID such as a passport, national ID card, or driver’s licence
• Proof of address — A recent utility bill, bank statement, or official government correspondence dated within the last three months
• Proof of payment method — A photograph or screenshot of the payment method used for deposits (credit card with middle digits obscured, e-wallet account page, or bank statement)

All documents must be clear, unedited, and legible. Documents that are cropped, blurred, or digitally altered will be rejected. MelBet reserves the right to request additional documentation if the initial submission is insufficient to complete verification.

Verification Process

The standard KYC verification process follows these steps:

• The user submits documents through the secure upload function in their account settings
• The compliance team reviews the submitted documents within 24 to 48 hours
• If documents are approved, the account is marked as verified, and withdrawal requests are processed normally
• If documents are rejected, the user is notified with a specific reason and given the opportunity to resubmit
• Accounts that fail to complete verification within the requested timeframe may be restricted or suspended

Anti-Money Laundering Controls

MelBet maintains a comprehensive set of AML controls designed to identify and prevent the misuse of the platform for financial crime:

Transaction Monitoring

All deposits, withdrawals, and betting transactions are subject to automated real-time monitoring. The system flags transactions that exhibit patterns commonly associated with money laundering, including unusually large deposits followed by minimal betting activity and rapid withdrawal requests, frequent deposits from multiple payment sources with no consistent betting pattern, structuring of transactions to avoid reporting thresholds, and transfers between accounts with no apparent legitimate purpose.

Risk Assessment

Each user account receives a risk-level classification based on geographic location, deposit volume, behavioral analytics, and KYC check results, among other facets. Accounts classified as high-risk undergo further scrutiny through EDD. This process can involve more regular reviews of submitted documentation, verification of the client’s source of funds, and higher levels of monitoring account activity.

Suspicious Activity Reporting

The compliance team investigates the concerns when unusual activity occurs. When reason is justified, the relevant financial intelligence unit is filled in through the submission of a Suspicious Activity Report (SAR). Roskomnadzor can’t tip the user that the report was filed. The user’s account access is restricted, their withdrawal requests are processed with a delay, and in the meantime, their money is frozen.

Source of Funds

MelBet may need a user to show where their funds come from. This is more likely to be required when a user’s deposits are higher than expected for a user’s income and reasonable employment standing. Additional proof may be needed when a user’s account shows suspicious activity. This is a result of due diligence on the compliance team’s part. Proof may include a user’s bank statements (that show a user earns an income), a user’s tax statements, and a user’s tax returns. This proof may also be in the form of a user’s recent pay stubs or proof of the sale of a user’s asset.

Record Keeping

MelBet keeps all KYC documents, transaction data, and all communication regarding AML inquiries for a minimum of five years from the last transaction or the last day the user had an active account. These records are kept in secure compliance with field data protection laws and will be provided to regulators when asked.

Employee Training

All employees of MelBet who are involved with customer accounts, financial transactions, or compliance functions are required to take training on AML and KYC at the time of hiring and on a periodic basis afterward. The training includes identifying suspicious activity, the proper procedures to escalate suspicious activity, regulatory requirements, and recent updates to applicable laws. The compliance department oversees the training and ensures that employees take the training on a periodic basis.

User Obligations

By using MelBet services, you agree to the following obligations:

• Provide truthful and accurate personal information at all times
• Complete KYC verification promptly when requested
• Use only payment methods registered in your own name
• Do not use MelBet services for the purpose of money laundering or any other financial crime
• Cooperate fully with any investigation or document request initiated by the compliance team
• Inform MelBet immediately if your personal details change

Not adhering to these obligations may result in the suspension of your account, the loss of your funds, and possible reports to the appropriate authorities.

Policy Updates

We will revisit this policy frequently and revise it as needed to ensure we abide by new laws, regulations, and industry norms. Significant changes will be shared via email or posted on the platform. Users’ continued use of MelBet services after we make changes will mean you accept the changes made to this policy.