This AML/KYC policy establishes Billybets’ obligations under applicable financial crime laws and licensing requirements. It sets the standards for customer due diligence, ongoing transaction monitoring, data handling, and governance to prevent money laundering and the financing of illicit activity on the Billybets platform. The policy applies to all customers, agents, and partner entities engaging in any deposits, wagers, transfers, or withdrawals within Billybets’ services, regardless of jurisdiction, to the extent required by law.
The Billybets board appoints an AML Compliance Officer (ACMO) who reports to senior management and oversees all AML/KYC activities, including customer verification, escalation of suspicious activity, and regulatory reporting. An internal compliance team supports the ACMO, and there is an established risk committee with defined responsibilities for AML risk governance. Any material amendments to this policy require joint approval by the ACMO and the board.
Billybets requires documentation to establish identity, residence, and the provenance of funds. All documents must be clear, legible, and valid for verification purposes.
Billybets may request SOW documentation at any time, particularly when deposits or withdrawals cross predefined thresholds or when activity appears inconsistent with known customer profiles. Acceptable evidence includes payslips, bank statements, investment disclosures, inheritance records, and corporate ownership documentation. If a satisfactory explanation cannot be provided, Billybets reserves the right to suspend activity or terminate the business relationship.
Billybets applies a risk-based approach to ongoing monitoring, designed to identify and escalate unusual or suspicious activity. Monitoring is performed in two lines of defense:
Additionally, all activity is subject to enterprise-wide risk assessment that is updated at least annually and aligned with regulatory expectations. The EWRA informs changes to verification thresholds and monitoring rules as required.
Billybets maintains comprehensive records to support regulatory requirements and investigations. Retention periods are as follows:
Data processing complies with applicable data protection laws. Customer information may be used solely for AML/KYC purposes or as required by lawful requests from competent authorities, subject to privacy protections.
All Billybets staff must report any grounds for knowledge or suspicion of money laundering or terrorist financing to the designated AML Compliance Officer. Disclosures must be made promptly and in accordance with internal procedures. Staff must not disclose or discuss AML concerns with the customer or any third party (no tipping off). Based on the assessment, the AML Compliance Officer may report to the competent authorities or terminate the business relationship consistent with legal obligations and regulatory expectations.
In line with regulatory expectations, Billybets recognises that risk profiles vary by geography. Customers located in high-risk jurisdictions, as identified by applicable international standards and licensing authorities, are subject to enhanced due diligence. Where risk cannot be adequately mitigated, Billybets reserves the right to refuse service, restrict activity, or terminate the relationship. Ongoing monitoring and periodic reassessment of customer risk will reflect changes in jurisdictional risk status.
All relevant Billybets staff receive AML/KYC training at onboarding and on a continuing basis. Training covers customer due diligence, enhanced due diligence triggers, suspicious activity reporting, and escalation procedures. The AML Compliance Officer has authority and resources to oversee compliance activities and coordinate with management and regulators as required.
Billybets may suspend or terminate an account or restrict activity if: (a) verification cannot be completed within a defined remediation period (commonly 28 days); (b) there is a failure to provide requested SOW/identity documentation; (c) activity is detected that indicates possible AML/CTF risk; or (d) regulatory or licensing requirements mandate enforcement action. In such cases, Billybets will provide reasonable notice and apply proportionate restrictions to protect customers and the platform.
For questions about this policy or to initiate verification inquiries, customers should use Billybets’ official in-platform contact channels or designated AML Compliance contact point within the Billybets support system. Billybets will respond in accordance with applicable regulatory timelines and internal service standards.