ShakeBet Anti-Money Laundering (AML) Policy

ShakeBet is committed to maintaining the highest standards in the fight against money laundering and terrorist financing. This Anti-Money Laundering Policy outlines our procedures and controls for identifying, preventing and reporting suspicious activity. By using ShakeBet, you agree to this policy.

Purpose of This Policy

The main objectives of ShakeBet’s AML measures are to:

  • Prevent the use of ShakeBet for money laundering and terrorist financing.
  • Ensure full compliance with all applicable laws and regulations.
  • Protect the platform’s integrity, user trust and ShakeBet’s reputation.
  • Provide a transparent and secure gaming experience.

ShakeBet’s AML Programme

Customer Due Diligence (CDD)

We apply strict customer due diligence procedures, including:

  • Identity verification: Collecting and verifying customer identity information using reliable, independent data sources or documents.
  • Ongoing monitoring: Monitoring customer transactions and gaming behaviour to identify suspicious patterns.
  • Enhanced Due Diligence (EDD): Applying additional checks to customers and transactions with a higher risk profile.

Record-Keeping and Data Retention

We maintain comprehensive records in accordance with legal requirements, including:

  • Verified customer information.
  • Transaction histories and payment details.
  • Reports of suspicious activity.

Records are stored securely for the minimum period required by law.

Reporting Suspicious Activity

ShakeBet has internal procedures for identifying and reporting suspicious activity:

  • Internal reporting: All employees are trained to recognise suspicious behaviour and report it to the Money Laundering Reporting Officer.
  • External reporting: Where required, reports are submitted to the relevant authorities, such as Suspicious Activity Reports (SARs).

Training and Ongoing Education

All ShakeBet employees receive regular training on AML matters, including:

  • Understanding money laundering and terrorist financing.
  • Recognising warning signs and suspicious activity.
  • Following the correct documentation and reporting procedures.

Training is regularly updated to reflect changes in legislation and industry practices.

Risk-Based Approach

Risk Assessment

We conduct regular risk assessments to:

  • Analyse the risk profiles of our customers, products and payment methods.
  • Implement appropriate control measures.
  • Adapt our due diligence processes to the risks identified.

Roles and Responsibilities

AML Compliance Officer

A designated Money Laundering Reporting Officer is responsible for:

  • Implementing and maintaining the AML programme.
  • Ensuring compliance with applicable laws and regulations.
  • Conducting internal audits and assessments.
  • Reporting suspicious activity to the relevant authorities.

Management and Employees

All ShakeBet employees and managers are required to:

  • Comply with this AML Policy and the related procedures.
  • Participate in training and awareness activities.
  • Report potentially suspicious behaviour without delay.

Policy Review and Updates

ShakeBet regularly reviews and updates this policy to ensure its effectiveness and compliance with applicable laws and regulatory requirements. Any changes are communicated to employees and affected users.

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