B7 Casino Logo
Register

Anti-Money Laundering Policy

What is the AML Policy

B7 Casino's Anti-Money Laundering Policy (AML) serves to protect against money laundering and terrorism financing. These guidelines ensure that all transactions are monitored and suspicious activities are detected and reported.

Structure of AML Guidelines

The AML Policy is divided into the following five main sections:

  1. Player Account
  2. KYC Checks
  3. Account Monitoring
  4. What We Might Do
  5. Questions or Concerns

Possible Casino Actions:

  • Freeze account
  • Block withdrawals
  • Close account permanently
  • Keep any winnings
  • Report activity to authorities

Due Diligence Levels

B7 Casino uses three different due diligence levels depending on risk assessment:

Level Name Use Case
SDD Simplified Due Diligence Extremely low-risk transactions that do not meet required thresholds
CDD Customer Due Diligence Standard; used in most cases for verification and identification
EDD Enhanced Due Diligence High-risk customers, large transactions, or special cases

Transaction Monitoring & Compliance

All players must wager deposited amounts at least once before a withdrawal request can be submitted. This AML requirement serves to prevent money laundering.

A combined algorithmic and manual review takes place before every withdrawal. This detailed control checks both account activity and balance for suspicious patterns.

Direct transfers between player accounts are not permitted under any circumstances. This rule prevents misuse of the platform for unauthorized money transfers.

Warning: Submitting fraudulent documents may result in confiscation of deposits and potential winnings.

Frequently Asked Questions about AML Policy

What is AML?
AML stands for Anti-Money Laundering and encompasses all measures to prevent money laundering and terrorism financing. These guidelines are legally required and protect both the casino and players from illegal activities.
Why are there due diligence levels?
The three levels (SDD, CDD, EDD) enable a risk-based approach. While simplified procedures are sufficient for low risks, enhanced checks are performed for high-risk customers or large transactions. This ensures both security and user-friendliness.
What happens if money laundering is suspected?
In case of suspicion, the casino can take various actions: freeze accounts, block withdrawals, permanently close accounts, retain winnings, or report activities to authorities. These steps serve to protect the financial system.
Why must I wager once before I can withdraw?
The single wagering requirement for deposited amounts is an AML compliance requirement. It prevents misuse of the platform as a pure money transfer facility and ensures that deposits are used for their intended purpose (gambling).
What are the consequences of submitting fraudulent documents?
Submitting fraudulent documents results in confiscation of both deposits and any potential winnings. This is a serious violation of AML regulations and may additionally result in legal consequences.