Welcome to dancebetreview.com for all things related to Dance Bet. We place a strong emphasis on security, legal compliance, and user trust. To ensure that our platform is not abused for illicit activities, we enforce a robust Anti‑Money Laundering (AML) and Know Your Customer (KYC) framework. Below is a comprehensive policy outlining how we verify user identity, monitor transactions, assess risks, and handle suspicious behavior. This document is designed to also support SEO goals and meet EEAT / YMYL standards.
🎯 Purpose & Scope
The purpose of this policy is to prevent misuse of our services for money laundering, terrorist financing, fraud, or other illegal financial activities. This policy applies to all users of Dance Bet—from registration, deposits, withdrawals, transfers, to account modifications. By implementing rigorous identity checks, continuous oversight, and risk-based controls, we aim to offer a secure and responsible environment.
📜 Legal & Regulatory Foundations
- EU Directive 2015/849 – Measures to prevent the abuse of the financial system for money laundering.
- EU Regulation 2015/847 – Requirements for information accompanying transfers of funds.
- Belgian Law of 18 September 2017 – Rules limiting cash use and imposing AML obligations.
- Directive 95/46/EC (Data Protection) – Protection of personal data and privacy.
💡 Defining Money Laundering
Money laundering is the process by which illicit funds are made to appear legitimate. Typical forms include:
- Conversion or transfer of property knowing it derives from illegal activity
- Concealing the true nature, source, ownership, or movement of such property
- Acquiring or using property known to come from criminal sources
- Assisting, facilitating, or attempting any of these actions
🏛️ Governance & Compliance Structure
Ultimate Gaming NV’s senior management holds the highest responsibility for policy oversight. An Anti‑Money Laundering Compliance Officer (AMLCO) is appointed to implement, monitor, and update the AML/KYC policies, and to train staff. All major changes require approval from senior leadership to ensure consistency with legal and regulatory obligations.
✅ Three‑Step Verification (KYC) Process
Step 1: Basic Identity Verification
Before performing withdrawals, every user must provide:
- Full legal name (first & last)
- Date of birth
- Gender
- Country of residence
- Full residential address
Step 2: Document Verification
This step is triggered when deposit or withdrawal amounts exceed **USD 2,000**:
- Upload a valid government-issued ID with a handwritten six-digit code
- Submit a matching facial photo or selfie
- Automated cross-check against trusted databases
- If automated validation fails: submit a proof of address (utility bill, government certificate, etc.)
Step 3: Source of Wealth / Funds (SOW)
This requirement arises when:
- Deposits or withdrawals exceed **USD 5,000**
- Transfers to another user exceed **USD 3,000**
In such cases, the user must provide credible documentation of the origin of funds—for example, employment income, business profits, inheritance, or investment records. Until verification is complete, certain account functions like withdrawals or transfers may be restricted.
📌 KYC Documentation Requirements
🪪 Identity Documents
- Passport, national ID, or driver’s license
- All four corners of the document must be visible in the image
- The face must match the identity document
📍 Proof of Address
- Utility bill, bank statement, or government-issued letter
- Issued within the last 90 days
- Text readable and edges visible
💳 Source of Wealth / Funds Documents
- Pay slips, employment contracts
- Business financial statements or tax returns
- Inheritance or investment documentation
- Bank statements showing fund flows
🌍 Risk Classification & Jurisdiction Assessment
| Risk Level | Verification Strategy & Controls |
|---|---|
| Low Risk | Standard three-step KYC process |
| Medium Risk | Lower thresholds, enhanced review and monitoring |
| High Risk | Access may be limited, or account rejected |
📊 Ongoing Monitoring & Oversight
🧠 Automated Monitoring Systems
- Real-time alerts for suspicious deposit/withdrawal patterns
- Detection of anomalies in user behavior (IP changes, device switches, geographic shifts)
👁 Manual Compliance Review
- Flagged accounts are periodically reviewed by compliance staff
- Documents and transaction histories are examined for inconsistencies
🚨 Escalation & Regulatory Reporting
- Confirmed suspicious activities are reported to Financial Intelligence Units (FIUs)
- Repeated violations may lead to account suspension, termination, or legal action
📂 Enterprise‑Wide Risk Assessment (EWRA)
Each year, we conduct a comprehensive assessment of risk across our operations, including:
- Transaction volumes, patterns, and behaviors
- User demographics and geographic exposure
- Payment and withdrawal channels used
- Emerging regulatory and financial risks
🗂️ Data Retention & Security
- KYC and identity data is securely stored for at least 10 years following account closure
- Transaction records are encrypted and retained for 10 years
- Access to data is tightly controlled, and all personal data is protected by privacy protocols
📚 AML Training & Internal Controls
- Mandatory AML training for all personnel in finance, compliance, and support roles
- Annual refresher courses aligned with evolving laws and guidelines
- Training delivered by certified AML professionals
📣 Reporting Suspicious Behavior
All employees are required to report any of the following:
- Invalid or inconsistent user documentation
- Unexplained or suspicious sources of funds
- Abrupt changes in account behavior or transaction patterns
Such reports are forwarded to the AMLCO and, if warranted, to relevant authorities.
🔐 Privacy & Data Protection
Your privacy is fundamental. We will never sell or share your personal data unless required by law. We comply with GDPR and relevant data protection laws to ensure confidentiality, transparency, and user rights.
📞 Contact & Support
For any questions or concerns regarding this AML / KYC policy for Dance Bet, please contact us at:
- Email: [email protected]
📆 Policy Review & Updates
This policy is reviewed at least annually or whenever operational, technical, or regulatory changes occur. All updates are approved by the AMLCO and senior management to ensure accuracy, clarity, and compliance.