AML AND KYC POLICY

Anti-Money Laundering and Know Your Customer Procedure outlines the general unified standards and procedures of anti-money laundering and is designated to prevent and mitigate all possible risks of the Company being involved in any kind of illegal activity.

 

The Company is fully committed to be constantly vigilant to prevent money laundering and combat the financing of terrorism in order to minimize and manage risks such as the risks to its reputational risk, legal risk and regulatory risk.

 

Money Laundering is the process by which criminals attempt to hide and disguise the true origin and ownership of the proceeds of their criminal activities, thereby avoiding prosecution, conviction and confiscation of the criminal funds. Terrorist financing can be similarly described although the funds used for terrorist financing may in fact be of legitimate origin.

 

The ability to launder the proceeds of criminal activity through the financial systems of the world is vital to the success of criminal operations. Money is the lifeblood of terrorist organizations and vital to the mounting of terrorist activity.

 

To ensure compliance with international trade standards, the Company operates exclusively in accordance with the laws on combating money laundering and countering the financing of terrorism and criminal activities. This Procedure aims to comply with the rules and guidance’s contained in the following laws, the National Ordinance on the Reporting of Unusual Transactions (NORUT), the National Ordinance on Identification of clients when Rendering Services (NOIS), Directive (EU) 2018/843 and the FATF recommendations. Subsequently the present policy is a combination of the FATF, EU and local AML/CFT rules and regulations. This ensures a solid, internationally accepted basis regarding AML/CFT. In case local laws and regulations require additional compliance duties, the company is free to develop additional procedures to comply with local regulations.

 

Trfbet  has a list of documents which must be provided by the Customer for the purpose of identity verification, namely: using a valid official identification document which includes but is not limited to a photograph of the holder: driving license; identity card; travel-document or passport; any other document. Upon the request of the Company the verification of the residential address may be carried out based on the following documents: valid official identity document; recent utility bill; recent account statement or reference letter issued by a credit institution/financial institution; correspondence from a central or local government authority, department or agency; any other documents issued by independent agency. The verification process also involves mandatory confirmation of the Customer’s phone number. Trfbet reserves the right to request additional documentation if it deems necessary upon times in order to complete their AML checks and compliance standards.

 

The Customer undertakes to respect the legal norms, including international norms which aim to combat illegal money transfers, financial fraud, money laundering and legalization of funds obtained by illegal means.

 

The Customer undertakes to make every effort to avoid direct or indirect complicity in illegal financial activities and any other illegal transactions using the Website.

 

The Customer guarantees the legal origin, legal ownership and the right to use the funds deposited to their account.

 

If evidence of suspicious transactions is discovered on the Customer’s account, actions with signs of fraud (including any refunds or cancellation of payments), the Company reserves the right to conduct an internal investigation, block or close the Customer’s account, cancel any payments and suspend operations on the account until the end of the official investigation. When making a decision the Company is guided by the provisions of the applicable law.

 

Trfbet has the right to request additional information about the Customer if the withdrawal method is different from the deposit method. Trfbet also reserves the right to block the Customer’s account during the investigation if the Customer refuses to provide additional information as requested by the Trfbet.

 

In the course of investigation, Trfbet has the right to request additional copies of the Customer’s identity confirmation documents and copies of bank cards used to top up the account, copies of payment documents and other documents confirming the lawful possession and legal origin of the funds. Trfbet also has the right to request the original documents.

 

Trfbet is obliged to exercise extensive scrutiny to Customers classified as a high-risk jurisdiction.

 

Trfbet refusal or withholding to perform transactions which are considered by the Trfbet as suspicious (including the blocking or closing of the Customer’s account) does not constitute to be a ground for civil liability of the Company for failure to fulfil obligations to the Customer.

 

Trfbet is not obliged to inform Customers or other individuals about measures taken to counter the legalization (laundering) of proceeds from crime and terrorist financing. Exceptions could be the following: when informing Customers about the suspension of a particular service, the refusal to carry out a Customer’s request or open an account, and when requesting documents from the Customer.

 

This anti-money laundering Procedure is an integral part of the Customer Agreement governing the terms by which the Customer opens an account on the Website.