Anti Money Laundering (AML) and
Know Your Customer (KYC) Policy
Anti Money laundering (AML) policy
Money laundering is the practice of turning funds obtained from illicit acts such as fraud, corruption, terrorism, etc.) into other assets or transactions that are lawful to hide or misrepresent the real sources of such assets.
To order to counter the introduction of funds from illegal enterprises into the economy and to prevent terrorism attacks, governments are involved in the fight against funds laundering.
Due to the transparency and usability of financial markets and the free flow of resources within them, financial institutions may be one means of enabling illegal income. As a result, Soccerquote uses rules and legislation to tackle money laundering and terrorism funding.
This document sets out the policy of Soccerquote, the website soccerquote.com (hereinafter the Company) on countering money laundering, as well as its role in detecting and stopping any operation linked to money laundering, terrorist finance and the possible use of the Company’s goods and services for money laundering purposes (hereinafter the AML Strategy).
Verification (KYC – Know Your Clients)
They abide by the general guidelines for the authentication of the customer.
To order to comply with the laws on the legality of unlawfully acquired funds, the Company may require the client to provide certain documentation (utility bills, notarized copies of records, Skype phone calls).
Customers submit documents to firstname.lastname@example.org in image file formats (Jpg, Jpeg, BMP, Pdf). Documents can not be allowed in uncommon or zip files or in doc, docx or other file formats.
Requirements for identity documents.
Generally, it is the open pages of the passport or ID card on both sides. The document must be absolutely clear in the picture, without any edges or corners being cut off, and without any highlights or elements being omitted. The personal signature of the contract can be covered.
All the information on the document must be readable and legible. The document should be visually verified for use by Photoshop or other image editors. At the time of account creation, the trader must be 18 years of age or older. The document needs to be accurate and valid. Watermarking is allowed.
Ways to test the authenticity of the paper if there are concerns that it is not valid:
AML electronic surveillance tools that are tracked by AML Global Watchlist (“global AML risk data bases, including sanction lists (such as OFAC, UN, HMT, EU, DFAT, and several more), law enforcement databases (Interpol, country-specific security and state authorities, and police forces) and regulators (financial and securities commissions) from around the world).
Requirements for bank cards.
The card should be fully clear in the picture, with no edges or corners cut off and without any glare from the flash. In the picture of the card, the following should be visible:
- The cardholder’s first and last name
- The first 6 and last 4 digits of the card number
- The card’s expiration
If the cardholder is not identified on the card, proof of who the card belongs to is demanded. It is a snapshot of an online bank account where the full name of the cardholder is apparent.
Or a bank account indicating that the card was issued to the holder. The statement must contain the name of the cardholder, the card number (incomplete data is allowed), the signature of the bank operator and the stamp of the bank.
Requirements for electronic wallets.
To confirm an e-wallet, a screenshot of the Soccerquote deposit would be needed. The snapshot would reflect the payment itself, the time and date of the transaction, and the wallet number. Electronic wallets often include a snapshot of the personal data page (if possible). For 2 screenshots, there should be general information visible to make it clear that the screenshots were taken of the same wallet.
Requirements for photos with documents in hand (selfies).
The passport must be clearly visible in the picture and the information must be readable and legible. The signature may be covered. The face of the individual must be clearly apparent in the photo and fit the picture in the passport (adjusted for age). The passport in the selfie and the passport in the photo will be the same.
Documents in languages other than English must be translated into English by an accredited translator; the translation must be signed by the translator and submitted along with a copy of the original document and a clear description of the customer. Accounts are checked not only in order to conform with the AML scheme, but also to ensure the integrity of the client’s assets.
Deposits/withdrawals of funds
Soccerquote demands that, during the crediting process, the name of the sender of the funds will completely conform with the name specified when processing the account (if the payment system states the name of the sender of the funds). Payments by third parties shall be banned.
Soccerquote has the right to claim strict adherence to the commonly agreed protocol for the deposit and withdrawal of funds.
Company money laundering prevention procedures
It is illegal to use this platform for money laundering purposes. Soccerquote is implementing advanced anti-money laundering techniques. Both transactions are regulated to prevent money laundering and can have various consequences for clients.
Soccerquote maintains the ability to decline to cooperate, end cooperation and cancel transactions from clients that do not recognize or do not agree with these policies to prevent money laundering. The funds accepted by Soccerquote will not be derived from illegal activity. Soccerquote is obligated to report fraudulent activities to the relevant authorities.
The preventive procedures for money laundering may have the following implications for clients:
- Customers must have all required personal details when creating an account.
This requires a valid Name, address, contact email address, and personal phone number.
- Withdrawals can only be done on behalf of the account holder. When a person transfers money into an account through a bank transfer, the money can only be credited to the beneficiary of the bank account.
The client undertakes to provide the appropriate account number and the correct name on all money transfers to Soccerquote. When the customer pays his wallet with a credit/debit card, the funds can only be credited to the same bank.
- Clients must register themselves.
- Customers can not allow funds to be handled by one or more individuals in their account with Soccerquote.
- This is forbidden to sell, transfer and/or buy invoices from or to other customers. Transfers of funds between clients are also forbidden.
- An individual is only permitted to have one account. Withdrawals or insurance can not be applied to accounts opened with false names or to several accounts opened by the same user.
- Soccerquote can, at its own discretion or in compliance with the regulations on the operation of client identification procedures, ask the client for an identity document (for example, a verified copy of their passport or other documents that Soccerquote deems necessary under those circumstances).
Soccerquote can even temporarily close an account before full evidence is given, proof of the client’s identification and address, the source of their funds and/or the source of their profits. If you open an account with soccerquote.com, you must have evidence of age when you first withdraw money from your account. You are also expected to request documents in compliance with the Know Your Customer (KYC) regulation.
- The client acknowledges that we can use the personal information given by the client to carry out effective anti-fraud tests. The personal information they supply can be forwarded to the relevant organisations or departments who may need such information in order to prevent fraud.
- We record and record telephone calls, as well as electronic communications related to the completion of contracts while operating on an account, as well as the delivery of facilities for the execution of orders related to the reception and execution of client orders. Records can also be used for quality assurance purposes and to combat fraud. We have the right and the duty not to acknowledge the information given by the customer whether we suspect or have reason to assume that this information is false, inaccurate or incomplete. In this situation, we can contact the client for confirmation or correction of this material.
Soccerquote states that, in order to conform with the AML regulation, money transactions by the company’s clients are allowed exclusively for the purpose of carrying out trading activities aimed at extracting profits within the scope of the company’s proposed services. If Soccerquote has legitimate grounds to suspect that money transfers are used by the account manager in breach of the laws and/or the Soccerquote AML policy, for motives other than the services provided by the company, the Company retains the right to prohibit the trading account and the personal account of the consumer from carrying out any transactions with that account.
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