English

Introduction

Gambling establishments are a place of increased risk of money laundering, fraud, terrorist financing, and other crimes. In order to avoid this, Lalabet Netherlands actively puts into practice the main provisions of the anti-money laundering policy and the concept of “know your customer”. The company is an officially registered gambling establishment, which is licensed by the government of Curacao. Therefore, these documents are developed on the basis of local and national legislation.

Thanks to these agreements, agency staff are more aware of the issue and can take the necessary steps to minimize risks. Employees can also evaluate clients’ transactions and games and stop illegal activities. At any time, the organization has the right to supplement this document, of which each user will be notified in advance.

Client guarantees

When a user creates a profile on the site, he confirms the following:

  • The individual has filled out the registration form with truthful, complete, and accurate information.
  • The user has reached 18 years of age or another legal age for visiting a gambling establishment.
  • The player represents his own interests, not a third party.
  • The client does not have information about the result of the match or game until its end.
  • A user has only one profile in Lalabet Netherlands.
  • The player will not transfer or sell his account to third parties.
  • The Client will not use his profile to transfer funds between accounts.
  • The user is not a resident of the USA, France, North Korea, Myanmar, Malta, Russia, Saudi Arabia, Germany, Czech Republic, Cyprus, Lebanon, Lithuania, Spain, Oman, Pakistan, Afghanistan and the UAE.

Know your customer

This procedure is aimed at verifying the identity of clients, as well as the legality of their actions on the site. The company has the right to check all necessary user documents both once and continuously when performing special procedures. All information received about the player will be stored and protected following the privacy policy.

Procedure

As soon as the user has created a profile in Lalabet and wants to make the first deposit, he must go through a verification process. To do this, he must provide certain documents:

  • A copy of the passport pages showing the player’s full name and date of birth.
  • Bank statement or paid utility bill.
  • Selfie with an identity document.

The information reflected in the documents must correspond to what the user indicated at the time of registration. After sending all documents, special employees will begin checking. If the verification is successfully completed, the client can continue the game and make a money transaction.

Anti-Money Laundering

Lalabet takes great care to ensure that players do not use the site for illegal purposes. By money laundering, an organization understands any activity that is aimed at concealing the real source of funds, as well as appropriating illegally obtained money. To prevent any type of financial crime, institution employees can do the following:

  • Suspend any monetary transaction if it is suspected of being fraudulent.
  • Temporarily block a client’s profile if he is suspected of committing a financial crime on the site.
  • Use private user data to conduct an investigation and transfer it to authorized authorities.

Suspicious activities

Upon identifying the following characteristics, Lalabeth can begin checking the player:

  • The user refuses to cooperate with the company in the area of anti-money laundering.
  • The client cannot prove the legality of the funds received.
  • The player provides false information about the source of the money.
  • The user is acting on behalf of a business or other third party.
  • The player often makes a deposit of a large amount.
  • The user plays the game from several accounts.
  • A surge of activity after a long break.

Internal review

Lalabet is also subject to review by a compliance officer. It checks how fully the company implements the principles set out in the “know your customer” and anti-money laundering policies. He must report the results of the audit to the Managing Director.