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Indbet adopts an anti‑money laundering and countering the financing of terrorism (AML/CFT) program designed to prevent the illicit use of its gaming platforms. This policy sets forth the governance, identification and verification, monitoring, reporting, and record‑keeping measures required to detect and mitigate money laundering risks in relation to customer activity, payments, and gaming transactions.
Indbet shall identify each Client and verify their true identity prior to establishing a business relationship and on an ongoing basis. Data collected includes full name, date of birth, country of residence, mobile number and email for individuals. For legal entities, corporate name, registration details, and information on ultimate Beneficiaries shall be collected.
Upon receipt of the information, Indbet shall verify identity by requesting appropriate documents. Acceptable documents include high resolution copies or photographs of government issued identity documents such as a passport, national ID or driving licence for individuals; corporate documents for entities not older than three months containing full identification of beneficiaries where applicable; and proof of address such as a utility bill or bank reference issued within the last three months.
Indbet may request scans or photographs of payment cards where necessary, showing the cardholder name, expiry, and the first six and last four digits of the card number; the back side shall show the cardholder's signature with the CVC/CVV redacted. Indbet may also use screening and verification tools to confirm identity and to monitor against sanctions, politically exposed persons and other risk indicators. Ongoing due diligence is performed to reflect changes in risk profile or information.
Indbet reserves the right to suspend or terminate a business relationship or restrict activity if the information cannot be verified or is incomplete. The Client must promptly inform Indbet of any changes in personal or contact information. Indbet identifies and assesses the level of risk posed by Clients and updates due diligence accordingly.
To open an account, a Client must provide a valid email address, create a password and provide required personal information. The name on the account shall match the Client’s true and legal name. Indbet reserves the right to request satisfactory proof of identity at any time, including copies of a passport or ID and any payment cards used for verification. If information is not supplied or cannot be verified, Indbet may suspend activity or close the account. Indbet shall complete document verification within thirty calendar days. The Client must keep information accurate and up to date. Only one account per Client, per address, per shared computer and per shared IP address is permitted. Creation of a duplicate account requires prior notice and permission; otherwise Indbet may close the duplicate and take actions including voiding transactions, forfeiture of bonuses, and reclaiming funds. Anonymous bank accounts are not accepted.
To minimize AML/CFT risk, Indbet does not accept or dispense cash. Indbet may refuse processing a transaction at any stage where there is suspicion of money laundering or terrorist financing. Indbet will not inform a Client that they have been reported for suspicious activity in accordance with applicable law. Deposits must be in the name of the Client; payments from third parties are not accepted.
Deposits, withdrawals and payments must follow established procedures. Withdrawals should be made to the same account and by the same method used for deposits. If a deposit was made by wire transfer, withdrawals must be made to the same bank and account. If a deposit was made via a payment system, withdrawals shall be via the same system to the same account. Withdrawals must be conducted in the same currency as the deposit. Indbet maintains transaction records for a minimum of five years following the termination of the business relationship.
Indbet acts as the data controller for personal information collected in connection with the provision of services. Personal data is processed solely for purposes of security, account management, communications and service delivery and is retained in accordance with applicable data protection laws. Personal information will be retained for a minimum of eight years in compliance with prevailing GDPR obligations or equivalent laws, and transaction data for a minimum of five years after the end of the relationship. Access to personal data is restricted and subject to contractual and legal obligations of confidentiality.
Indbet appoints an AML Compliance Officer who is responsible for the organization’s AML/CFT program, policy implementation, training of personnel, and handling internal suspicious activity reports. All employees, managers and directors receive AML training, and staff involved in client due diligence, monitoring or investigations undergo specialized training. A breach of this policy must be reported to the AML Compliance Officer; if the officer is implicated, the report should be made to the Chief Executive Officer.
Indbet conducts ongoing screening for sanctions, PEPs and other risk indicators. The company identifies high risk clients and applies enhanced due diligence commensurate with risk. Third party screening is conducted for all clients and counterparties in accordance with regulatory requirements. A risk‑based approach is used to allocate resources to higher risk customers, products and geographies.
Indbet recognizes that certain jurisdictions pose greater money laundering and terrorist financing risk. The following countries are classified as high risk for purposes of enhanced due diligence and monitoring: Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Democratic People’s Republic of Korea, Haiti, Iran, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda, United Arab Emirates, Yemen. Indbet applies additional checks and controls for clients and transactions associated with these jurisdictions.
Indbet conducts risk assessments to identify threats, vulnerabilities and consequences of ML/TF activity. The assessment covers customer risk (including PEPs, family members or close associates of PEPs, high spenders, disproportional spending, casual customers), geographic risk, and product and service risk. The process includes identification of risk factors, analysis of likelihood and impact, and prioritization of mitigation actions. The resulting strategy informs ongoing controls and monitoring.
Employees must promptly report to the AML Compliance Officer any suspicion of money laundering or terrorist financing. If the AML Compliance Officer is implicated, reports shall be made to the Chief Executive Officer. Indbet cooperates with competent authorities as required and maintains internal suspicious activity reports in a secure, auditable manner.
The AML/CFT policy is reviewed and updated at least quarterly, or more frequently as required by changes in law, regulation or business risk. The policy governs all activities on Indbet platforms and applies to all employees, contractors and agents.