AML Policy
Effective Date: 01/09/2024
Last Reviewed: 01/09/2024
I. Introduction
www.Khan-bet.com (Company) is operated by Verse Corp B.V. having its office at Abraham de Veerstraat 1 Willemstad, Curacao (Registration number 162608).
Money laundering and the financing of terrorism are some of the ever-growing threats for national and international economies throughout the world, forcing all vulnerable sectors to have measures in place for their prevention./
This AML Policy is written based on the international standards set by the FATF and the national legislation of Curacao on AML. Combined these regulations provide a solid, internationally accepted standard for the procedures maintained for the prevention of the misuse of the services provided by the Company.
Company is committed to the highest national and international anti-money laundering (AML) and counter-terrorist financing (CTF) standards when providing its services and requires management and employees to follow these standards.
II. Procedures
In an effort to be compliant with the applicable rules, regulations and international standards, the Company has procedures in place to which it attains itself to when providing services to customers. These procedures include:
• Customer Due Diligence (CDD);
• Reporting Procedure;
• Record Keeping Procedure;
• Internal Control;
• Employee training and employee screening.
III. Risk-Based Approach
The Company adopts a Risk-Based Approach (RBA) when assessing the risks related to AML.
The guidelines are the following:
- Prior to conducting any transaction, the Company conducts checks to ensure that the identity of the customer does not match with any person with known criminal background, banned entities, or terrorists; - The relevant data shall be obtained from the customer prior to conducting the respective transaction;
- The process of risk assessment of the customer may encompass the assessment of customer’s background, country of origin, source of funds and volume of transactions;
- The Company may carry out enhanced due diligence with regard to customer’s, which can be considered as high-risk based on the findings.
The Company may carry out enhanced due diligence with regard to funds the origin of which are unclear or for the transactions of higher value and frequency.
IV. Politically Exposed Persons and sanctions screening
The Company does not transact with individuals who are Politically Exposed Persons (PEPs), or their family members. The Company uses its best endeavor’s to screens all the customers against global PEP and sanctions lists before they are allowed to establish a relationship with the Company.
V. Customer Due Diligence
The Company has established a set of procedures and practices implemented to verify the identity of customers, assess their risk profile, and ensure that their transactions comply with AML/CTF regulations – CDD measures.
VI. Reporting Procedure
Any suspicious transactions or circumstances for which the Company has not received sufficient explanation may give rise to a report to the appropriate authority of Curacao. The Company will hold a list of all instances in which it did not consider it necessary to report to the relevant authority. The decision not to report will need to be sufficiently justified.
VII. Record Keeping Procedure
All records are retained for a minimum period of five (5) years following the termination of the business relationship or the completion of the transaction, whichever is longer, unless otherwise stipulated by law or regulatory directives.
VIII. Internal Control
The Company implements and maintains a system of internal controls to ensure that all of its operations comply with AML/CTF legislation and that all required reports are submitted in a timely manner.
IX. AML policy changes and implementation requirements: Each major change of AML Policy is subject to be approval by the senior management of the Company and the Compliance Officer.
X. Contact us: If you have any questions about our AML Policy, please contact us:
• By email: support@Khan-bet.com
If you have any complains about our AML Policy or about the checks done on your Account and your Person, please contact us:
• By email: support@Khan-bet.com