1. General
1.1 Policy Statement
It is the policy of Sellatuparley that all staff members actively participate in preventing Sellatuparley's services from being exploited by criminals and terrorists for money laundering purposes or used to finance terrorist activity through winnings obtained from betting on the company's website. This participation aims to:
• Ensure Sellatuparley's compliance with all applicable laws, statutory regulatory instruments, and the requirements of the relevant supervisory body.
• Protect the company and all its staff as individuals from the risks associated with non-compliance with the law, regulations, and supervisory requirements.
• Preserve the good name of Sellatuparley against the risk of reputational damage presented by involvement in money laundering and terrorism financing activities.
• Make a positive contribution to the fight against crime and terrorism. To achieve these objectives, Sellatuparley's policy is that:
• Each staff member shall comply with their personal obligations as appropriate to their role and position within the company.
• Commercial considerations will never be allowed to take precedence over Sellatuparley's anti-money laundering commitments.
• The company will appoint a Money Laundering Reporting Officer (MLRO) and a designated employee to ensure continuity during their absence, and all staff members must provide them with all the assistance and cooperation to carry out the duties of their appointments. Any reference to the MLRO in this document will include that of the designated employee should the MLRO be temporarily absent.
1.2 Definition
Sellatuparley believes that before implementing its Fraud Management Procedure, it is essential that it identifies what constitutes money laundering on the one hand, and what constitutes terrorism financing on the other.
Money laundering is the movement or concealment of criminal proceeds with the objective of obscuring the link between the crime and the funds generated, in order to enjoy the benefits of the crime. Therefore, the ultimate goal is to conceal the source of the funds.
Terrorism financing is the process of making funds or other assets available, directly or indirectly, to terrorist groups or individual terrorists to support them in their operations. This can take place through funds from legitimate sources or a combination of legal and illegal sources. Indeed, financing from legal sources is a key difference between terrorist organizations and traditional criminal organizations involved in money laundering operations.
Although it seems logical that funding from legitimate sources does not need to be laundered, it is often necessary for terrorists to conceal or disguise links between the organization or the individual terrorist and their legitimate funding sources. Therefore, terrorism financing is primarily concerned with concealing the final recipient of the funds.
2. The Risk-Based Approach
2.1 Definition
In accordance with applicable laws, Sellatuparley adopts a risk-based approach. In this way, it identifies and analyzes its risks and subsequently makes use of measures, policies, controls, and procedures to curb unwanted risks, among which are those related to money laundering and terrorism financing. The approach allows Sellatuparley to exercise a great deal of flexibility and discretion. This in itself carries great responsibility. It is up to Sellatuparley to demonstrate through proper documentation, including but not limited to a risk analysis process, that it has assessed all risks and adequately implemented any measures to control them. In this regard, this policy establishes the specific steps.
2.2 Risk Assessment
Risk management involves:
i) recognizing the existence of a risk
ii) conducting a risk assessment, and
iii) implementing systems and strategies to manage and control the identified risks.
There is no doubt that the remote gaming business is considered risky. Nevertheless, the risk assessment will identify the key risks the company faces, as well as the level of these risks, so that, consequently, the necessary measures are adopted to manage and control the identified risks. This procedure will specify the controls and processes that must be followed to ensure that the risks Sellatuparley has identified and will face as part of its operations do not materialize. Sellatuparley's organizational risk assessment, which must be approved by the Board of Directors, takes into consideration the following factors: i. Product / service / transaction risk
Some gaming products / services / transactions are more vulnerable to criminal exploitation than others. These include, for example, gaming products or services that allow the customer to influence the outcome of a game, either playing alone or in collusion with others.
ii. Interface risk
This refers to the channel through which Sellatuparley establishes a business relationship and/or through which transactions are carried out. Non-face-to-face interactions, such as those related to the business interface of Games & More BV, are no longer automatically considered high risk, provided that technological measures and controls are adopted to address the increased risk of identity fraud or impersonation. Sellatuparley will ensure it adopts a
good combination of verification methods based on documentary and electronic sources, as mentioned below, to counter the aforementioned risks. For example, although Sellatuparley will make use of electronic databases, it is well aware that databases only confirm that the identification data provided corresponds to that of a real person, and not that the customer is actually that person. The provision of additional identification documents will provide further proof that Sellatuparley was justified in considering the customer to be the person they claim to be.
iii. Geographical risk
This is the risk posed to Sellatuparley by the geographical location of customers, but also the geographical location of its suppliers and service providers. The element to consider regarding this fraud management procedure is primarily that attributable to the customers and the source of funds of such customers. A customer's nationality, residence, and place of birth must be taken into account, as they may be indicative of a higher geographical risk. Countries that have weak anti-money laundering and counter-terrorism systems, countries known to suffer a significant level of corruption, and countries subject to international sanctions in relation to terrorism or the proliferation of weapons of mass destruction will be considered high risk.
Risk assessments are "works in progress". These assessments must be constantly re-evaluated as new risks emerge. Risks may arise due to changes in technology, which can make money laundering or financing of terrorism attempts easier to carry out. Other changes include the expansion of the customer base or the addition of games and payment methods that present a different risk profile than those already offered, which will require a review of the business risk assessment. In the absence of such changes, Sellatuparley will re-evaluate its business risk assessment at least once a year, to assess whether any changes are necessary. When determining the level of risk a customer poses, the accumulation of all relevant indicators will be taken into account. These together
iv. Customer risk
This relates to the type of customer to whom the service is provided. The assessment of the risk posed by a natural person is usually based on the individual's economic activity and/or source of wealth. When identifying the level of risk inherent in a relationship, Sellatuparley will evaluate what the likelihood would be that a customer could launder the proceeds of crime through the service of Games & More BV. A high-income customer who spends a quarter of their monthly salary on betting is not likely to constitute a high risk, even if the amount bet is large. On the other hand, a minimum wage earner who spends their only salary on betting will likely constitute a high risk. Furthermore, the individual will be evaluated to determine if they are a Politically Exposed Person (PEP), or in any way associated with a PEP.
3. Customer Due Diligence (CDD)
3.1 Procedure
The Fraud Management Procedure will now focus on the know your customer procedure and identifying the risks related to their transactions and the source of their funds, both where the funds were obtained from and where the customer has remitted the funds from.
As described above, a risk assessment can never be a one-size-fits-all exercise. Sellatuparley, in this regard, will carry out a risk assessment when initiating a business relationship with a customer or when carrying out an occasional transaction for them. For the sake of clarity, Sellatuparley will not accept corporate players, only individual players. The aforementioned risk assessment will allow Sellatuparley to develop a risk profile on the customer and categorize the risk as low, medium, or high, allowing it to identify the controls that must be adopted. The player's risk profile will not be completed upon registration. The registration part of the process will only signify the beginning of information collection, and as such, the risk profile will be augmented and refined with the development of the relationship with the player. That being said, should a change occur in the business relationship maintained with the customer, which therefore also entails a change in the identified risk, the measures adopted to control the risk will be adapted accordingly. Furthermore, ongoing monitoring, as explained in more detail below, will ensure that any change in risk is detected as soon as possible. The level of monitoring will be proportional to the risk posed by the particular customer, but systems will be established to detect the development of risky situations. the measures adopted to control the risk will be adapted accordingly. Furthermore, ongoing monitoring, as explained in more detail below, will ensure that any change in risk is detected as soon as possible. The level of monitoring will be proportional to the risk posed by the particular customer, but systems will be established to detect the development of risky situations. the measures adopted to control the risk will be adapted accordingly. Furthermore, ongoing monitoring, as explained in more detail below, will ensure that any change in risk is detected as soon as possible. The level of monitoring will be proportional to the risk posed by the particular customer, but systems will be established to detect the development of risky situations.
To begin with, Sellatuparley adopts CDD measures to determine who its customers are. All details collected at the registration stage are used to create the customer profile. Further customer profiling is done, based on customer activity and also on particular behavioral aspects. This aspect of profiling will help determine the risk associated with the particular player and, therefore, will also facilitate the identification of future unusual behavior. CDD is divided into the following three parts:
A. Customer identification and verification
Identification consists of collecting the player's personal data. This information is collected during the registration process.
The personal information to be collected is to initiate the Know Your Customer (KYC) procedure, which includes collecting the following personal details:
a. First and last name.
b. Permanent residential address.
c. Date of birth, since the player must be over eighteen years of age (or any other age as applicable in the player's particular jurisdiction)
d. Valid email address
e. Place of birth
f. Nationality and g.
g. Identity reference number when applicable.
Once the above information is provided, Sellatuparley will first determine if the person in question is a Politically Exposed Person (PEP), a family member of a PEP, or a close business associate of a PEP. In this regard, a reliable electronic database, such as opensanctions.org and complianceadvantage.com, will be integrated and used. If an individual is determined to be a PEP or in any way related to a PEP, then the individual will be considered a PEP and will not be allowed to register as a player at Games & More BV, since the latter has a strict policy of not accepting PEPs as players. Therefore, this means that the determination of whether a person is a PEP (according to the definition above) will be carried out at the registration stage.
The account will be formally opened once the player's email has been verified. In any situation where the player is immediately identified as high risk, Sellatuparley may immediately request additional personal data and the verification of the very data provided. In any case, Sellatuparley will ensure it is able to determine at all times that the customer is who they claim to be and that the measures adopted are sufficiently effective to counter the risk of identity fraud and impersonation.
Verification consists of confirming the personal data collected for identification purposes through the use of independent data, information, and documentation obtained from reliable sources. If inconsistencies are identified in the personal information provided by the customer, Sellatuparley will consider adopting additional identification and verification measures.
This will be carried out in two ways: i. Documentary sources,
As a general rule, this method of verification will be carried out by referencing government-issued documents that contain a photographic image along with the player's identity (e.g., passport, identity card, driving license, etc.). If the player's residential address cannot be verified using any of the recently mentioned documents, Sellatuparley will request reliable alternative documents, such as a recent utility bill, bank account statements, correspondence from government or public entities, etc., to verify the address. The requested documents will be received via email, and if deemed necessary, notarized documents may be requested.
Sellatuparley will ensure that all documents received are clear, legible, of good quality, and are authentic or reflect genuine ones. Some documents, such as passports, may be easier to verify since they can be cross-referenced with other sources. In other cases, such as utility bills, the verification process may be less straightforward. Sellatuparley will carry out additional checks using specific software programs/applications; which will be integrated as a solution to assist users in performing their work.
Regarding the validity of the information provided, Sellatuparley will also consider other data collected from the player, such as geographic location, IP address data, etc., which under normal circumstances should corroborate the data contained in the documents provided by the player. There will be exceptions where the IP address does not match the country/location. Such instances will need to be verified on a case-by-case basis, and verification/clarification will be obtained directly from the player.
ii. Electronic means
These include sources such as E-ID or Bank-ID and electronic commercial databases. Sellatuparley is well aware that the reliability of these databases is not always the best. In this regard, it will consider what source of information is being fed into the database and whether such data is known to be kept up to date. When making use of the aforementioned electronic databases, Sellatuparley will also make use of other documentary evidence for better confirmation/reliability. This is because a positive match in the electronic database will only mean that there is a person whose personal data corresponds to that provided by the customer, but not that the customer is that person. On the other hand, when electronic sources such as E-ID and Bank-ID are used,
B. Obtaining information on the purpose and intended nature of the business relationship
The objective behind opening a gaming account is quite evident, and therefore, no clarifications will be sought regarding why an account opening request has been made. However, there may be an ulterior motive on the basis of which the account was opened, possibly even for money laundering or terrorism financing. If Sellatuparley has any suspicion that an ulterior motive subsists, it will conduct further investigation and request additional data and documentation to justify its suspicions or to confirm that there are indeed justifiable indications of an illicit motive.
There is no specific timeframe or period in which these additional checks will be carried out, as these will be conducted simply when the suspicion arises. Therefore, it is possible that the investigation may need to be carried out at the time of registration, while in other cases, it will not be necessary until specific mandatory AML thresholds are reached.
In the event that checks are carried out before the mandatory period, Sellatuparley will first gather sufficient information and, where necessary, documentation to establish the player's source of wealth. Identifying the player's source of wealth consists of determining the activities that generate the player's net worth, which will then lead Sellatuparley to determine whether this amount of wealth justifies their projected and actual level of account activity. Sellatuparley will also at this stage profile the player within the player risk matrix (according to the table in the following section). When the risk determined after the checks is medium or low, Sellatuparley will accept a declaration from the customer with details such as the nature of employment/business and a statement on annual salary. Professional network and social media searches will also be used for verification purposes. If the risk is high or Sellatuparley has doubts about the veracity of the information collected, the player will be required to provide further independent and reliable documentation proving the alleged source of wealth. For example, the person may be asked to email a copy of their payslip or provide other documented evidence to confirm their statement.
C. Ongoing monitoring
Ultimately, this involves monitoring customer transactions, personal data, and changes in their circumstances or betting preferences, to ensure they are consistent with the anticipated activity and, if not, identifying why changes have occurred. The objective is to identify and analyze subjectively unusual large transactions, changes in gaming patterns, and other "out of the ordinary" activities. In this regard, it is important that Sellatuparley ensures that player information is kept up to date. It will encourage and even oblige players through the terms and conditions to inform Sellatuparley of any changes and possibly provide documentation to confirm them. Through the monitoring process, the risk level will be reviewed, and an analysis will be conducted on whether or not the previously established risk rating should be modified. Any inconsistency in the information must be justified, and Sellatuparley reserves the right to request further corroborating evidence.
Adequate ongoing monitoring also involves carefully examining the player's transactions and gaming patterns to ensure they align with the knowledge Sellatuparley has of the player, their gaming activity, and their risk profile. If the two do not match, Sellatuparley will similarly question the situation. Whenever Sellatuparley requests further information, it will always keep note of its findings to demonstrate compliance. If any identified inconsistency persists without being successfully resolved, Sellatuparley will analyze whether a report should be submitted to the relevant authorities and will also make a decision on whether it considers it necessary to suspend the player's account.
The following screenshots provide an example of how Sellatuparley will be able to track which due diligence documents have been requested, received, and any other related notes:
Finally, with regard to PEPs, a scenario may arise where a player may not have been considered a PEP at the registration stage but becomes one during the course of the business relationship. If, upon conducting ongoing monitoring, Sellatuparley becomes aware of such a change, Sellatuparley will terminate its business relationship, as it has a strict policy of not accepting PEPs as players. In the event that, for some reason or another, the person was not identified as a PEP even if they were a PEP at the registration stage, but is consequently identified as such, Sellatuparley will void any winnings obtained by the individual, and will then transfer the deposited funds back to the original source from which the funds originated. Consequently, it will close the player's account.
3.2 Timing and Application of CDD Measures
As described above, the player's account will be successfully opened once the player registers by providing the requested basic personal information and subsequently verifying their email address through the email activation link. The system is configured to prevent minors from registering by rejecting any inserted date of birth that means the player is under eighteen years of age (or any other age according to specific legislation, such as Latvia, 21 years). Verification of player details (with the exception of PEP confirmations) may occur at any time at the discretion of Games & More BV. However, at a minimum, it must definitely be carried out when the amount deposited by the players reaches the cumulative value of €2,000. It does not matter whether such deposits have been made via a single transaction or several transactions that appear to be linked or not. Therefore, Sellatuparley will implement a system that calculates on a daily basis whether the player has reached the €2,000 deposit limit in their account. Another important factor that the system will include is the identification of possible multiple accounts. Until the time this threshold is reached, Sellatuparley will carry out ongoing monitoring according to point C of section 3.1 above, to ensure that the player's information is still correct. Furthermore, if Sellatuparley notices at any time any inconsistency between the information provided by the player and any other information it acquires, Sellatuparley will question the discrepancies and take whatever corrective action it deems necessary. In addition, if it suspects money laundering or terrorism financing, it will follow the procedure described in section 4 below.
Once the aforementioned threshold is reached, the player's risk profile will be confirmed, based on the risk assessment carried out in accordance with section 2.2 above. The latter will take place before thirty days have elapsed since the €2,000 threshold was reached. The risk assessment will determine whether the risk posed by the individual is low, medium, or high.
The measures adopted to control the risk in question vary, according to the table presented below: Identified Risk | Measures Adopted
Low
• Verification of personal data
• Ongoing monitoring is carried out to ensure the relationship remains low risk and the threshold is not exceeded again.
• Any suspicious cases of money laundering or terrorism financing must be reported.
Medium
• Additional personal data deemed necessary by Sellatuparley is collected.
• Verification of personal data is carried out using documents containing photographs of the person.
• Information regarding the source of wealth is collected.
• Ongoing monitoring is carried out to detect unusual activities and also to keep information and profiles updated.
• Any suspicious cases of money laundering or terrorism financing must be reported.
High
• Additional personal data deemed necessary by Sellatuparley is collected.
• Verification of personal data is carried out using documents containing photographs of the person.
• Information and documentation regarding the source of wealth are collected.
• Ongoing monitoring is carried out even more thoroughly and at more frequent intervals than that performed for medium risk, in order to detect unusual activities, and also to keep information and profiles updated.
• It may be necessary to determine the source of funds for specific transactions.
Sellatuparley will allow players to continue using their gaming account while it is still obtaining the necessary information and/or documentation from the player in question. However, until such time as Sellatuparley actually obtains the aforementioned information and/or documentation, and verifies the player's identification, it will not allow the player to make any withdrawals from their account, regardless of the amount involved. Furthermore, if thirty days have elapsed since the €2,000 threshold has been reached and the player has not provided the requested information and/or documentation, Sellatuparley will terminate the business relationship with the player, following the procedure set out in the next section.
3.3 Termination of the Business Relationship
Sellatuparley will terminate its business relationship with a player if they fail to provide the requested information and/or documentation, which Sellatuparley has repeatedly asked of them. Sellatuparley will void any winnings and then transfer the deposited funds back to the original source from which the funds originated. Any approval of such action must be taken by senior management and only after verifying that there is no restriction on the transfer of funds. If Sellatuparley finds it impossible to remit the funds to the player through the same channels, as a measure of last resort, it will remit the funds to a single account in a financial or credit institution in a reputable jurisdiction in the player's name. If such an account is not available, the funds will continue to be held in the players' name. The funds will be held in the account until the player provides adequate details for the transfer. If this never materializes, after 30 months have elapsed, the remaining funds in the account will be remitted to the Malta Gaming Authority (CURACAO GAMING AUTHORITY). Whenever sending such funds, Sellatuparley will indicate in the instructions accompanying the funds that they are being remitted due to the impossibility of completing CDD. Sellatuparley will also consider whether there are grounds to submit a Suspicious Transaction Report (STR), according to the procedure set out below. If this never materializes, after 30 months have elapsed, the remaining funds in the account will be remitted to the Malta Gaming Authority (CURACAO GAMING AUTHORITY). Whenever sending such funds, Sellatuparley will indicate in the instructions accompanying the funds that they are being remitted due to the impossibility of completing CDD. Sellatuparley will also consider whether there are grounds to submit a Suspicious Transaction Report (STR), according to the procedure set out below. If this never materializes, after 30 months have elapsed, the remaining funds in the account will be remitted to the Malta Gaming Authority (CURACAO GAMING AUTHORITY). Whenever sending such funds, Sellatuparley will indicate in the instructions accompanying the funds that they are being remitted due to the impossibility of completing CDD. Sellatuparley will also consider whether there are grounds to submit a Suspicious Transaction Report (STR), according to the procedure set out below.
3.4 B2B Relationships
Sellatuparley will also carry out due diligence exercises before entering into business relationships with third parties. These exercises will be conducted by senior management in conjunction with the legal department and the MLRO. Like CDD, Business Due Diligence (BDD) will seek to identify what risks would arise if Sellatuparley engaged in business with the third party. In carrying out this assessment, it will be determined whether the origin, nature, and volume of business to be introduced through the third party can be established. Sellatuparley will also give much weight to the fact that a supplier is already an approved supplier under the requirements of the CURACAO GAMING AUTHORITY. It is also considered positive if a currently unapproved supplier is seeking approval at the time they contract with Games & More BV. The assessment will also seek to establish whether the third party has business dealings with other third parties known to lack a good reputation, or whether the third party conducts its business in or from a disreputable jurisdiction. In this regard, Sellatuparley will ask the third party to provide original/certified copies of all necessary documentation, including the certificate of incorporation, memorandum and articles of association, certificate of good standing, annual financial statements, identification of company officers, as well as a list of shareholders and a bank reference letter confirming that the company's affairs are conducted properly. Once it has been determined that the third party conducts business in a manner that will not jeopardize the position of Games & More BV, the parties will then agree on the terms of the business relationship and sign the relevant agreements and documentation. As part of BDD, Sellatuparley will conduct ongoing monitoring to ensure that the third party still conducts its business diligently, based on its own experience of the manner in which the services are provided. Furthermore, Sellatuparley also reserves the right to include a right-to-audit clause in the agreement it signs with the third party, if deemed necessary. based on its own experience of the manner in which the services are provided. Furthermore, Sellatuparley also reserves the right to include a right-to-audit clause in the agreement it signs with the third party, if deemed necessary. based on its own experience of the manner in which the services are provided. Furthermore, Sellatuparley also reserves the right to include a right-to-audit clause in the agreement it signs with the third party, if deemed necessary.
Any anti-money laundering review carried out will be noted separately in the third party's file. In any case, Sellatuparley will always reserve the right to terminate its business relationship with any third party if it considers that by doing business with the third party, it is putting its anti-money laundering and terrorism financing obligations at risk. Notification to the CURACAO GAMING AUTHORITY will be given according to the agreement and according to the requirements of the same authority.
3.5 Reliance and Agents
Sellatuparley may decide to rely on information and documentation collected at the customer onboarding stage by a third party and/or hire an agent. In either case, Sellatuparley will ensure that the third party is established in an EU Member State or in a reputable jurisdiction that adopts the same anti-money laundering or terrorism financing measures established in applicable Maltese laws, or equivalent measures. To determine the latter, Sellatuparley will rely on reputable sources such as the Financial Action Task Force evaluation reports on Money Laundering, IMFCountryReports, etc.
If Sellatuparley decides to rely on information provided by a third party, it may still request the player to provide verification documents. In such circumstances, Sellatuparley will continue to carry out the customer-based risk assessment, determine the customer's risk rating, and conduct ongoing monitoring. The relationship between Sellatuparley and the third party will be set out in an agreement, and one of the conditions will be that the third party provides Sellatuparley with the player-related documents immediately upon request. Sellatuparley will also include a right-to-audit clause in the agreement and will indeed periodically test this agreement to ensure that the necessary personal data and documentation are collected from the player in accordance with the agreed specifications.
A copy of this procedure will also be provided to the third party to ensure that the CDD requirements and applicable thresholds are adequately communicated, and therefore the third party will never have the excuse that they did not know what the company's applicable requirements are. Sellatuparley may, where permitted by law, choose to use the services of agents to onboard or serve customers. Sellatuparley may request the agent to carry out the necessary anti-money laundering/counter-terrorism financing measures and adopt measures when onboarding or providing services to one of Games & More BV's customers. However, in any event, Sellatuparley will ensure that any application of CDD measures is carried out diligently and as required by applicable laws.
4. Reporting Suspicious Activities and Transactions
4.1 Appointment of the Money Laundering Reporting Officer (MLRO)
While the detailed description of the MLRO's responsibilities is set out in the HR Roles and Responsibilities Policy, the MLRO's primary responsibility will be to consider any internal reports of unusual or suspicious transactions raised within the company and to follow up on these reports and also file an STR with the Financial Intelligence Analysis Unit (FIAU) when deemed necessary. The MLRO will also act as the main channel through which communications with the FIAU will be made. They will ensure that Sellatuparley is effectively implementing the policies and procedures it has adopted to address its anti-money laundering and terrorism financing obligations. The MLRO will be responsible for monitoring any updates on sanctions lists such as that of the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC). They will then update the rest of the staff on any amendments to the sanctions lists and any fundamental changes in applicable law. Sellatuparley will ensure that the person appointed as MLRO has sufficient seniority and command to be able to act independently of management.
The MLRO will have access to all necessary information/documentation and to company employees to effectively fulfill their obligations. Sellatuparley has also appointed a designated employee who could act as MLRO during the MLRO's absence. The appointments of both the MLRO and the designated employee will be made known to the CURACAO GAMING AUTHORITY, so that the CURACAO GAMING AUTHORITY, as well as the FIAU, can direct inquiries and requests directly to them, when the need arises. Therefore, such persons will act as the point of contact between Sellatuparley and the relevant authorities on matters related to the fight against money laundering and terrorism financing.
4.2 Reporting Suspicious Transactions and Activities
Sellatuparley may develop a suspicion or have reasonable grounds to suspect that activity on an account is linked to money laundering or terrorism financing. At that time, Sellatuparley will ensure that all CDD requirements are met, regardless of whether any applicable threshold has been reached. Consequently, it will submit an STR as soon as possible.
4.2.1 Internal Reporting Procedures
As described in more detail in section 6 below, all staff who communicate with players or have access to information about customer affairs will receive anti-money laundering training. In this way, they would be able to identify what action by the player should reasonably lead them to suspect that money laundering or terrorism financing activities are being attempted or have been carried out. For example, they would be expected to realize that if a player attempts to register more than one account with Games & More BV, or if they deposit considerable amounts during a single session using multiple prepaid cards, such actions should constitute indicators or red flags that should lead them to question the player's behavior. At that time, the employee may subtly seek explanations from the player, without disclosing their suspicions to the player. This disclosure is prohibited, whether directly or indirectly, and therefore all staff members must be astute about it. If the officer fails to obtain any convincing information, and after full consideration, the officer still suspects foul play, then at that time they will inform their immediate superior. Obviously, before informing their superior, the employee must be convinced that there is a clear indication of intent to circumvent safeguards and that there is a use of the financial system for criminal purposes. and after full consideration, the officer still suspects foul play, then at that time they will inform their immediate superior. Obviously, before informing their superior, the employee must be convinced that there is a clear indication of intent to circumvent safeguards and that there is a use of the financial system for criminal purposes. and after full consideration, the officer still suspects foul play, then at that time they will inform their immediate superior. Obviously, before informing their superior, the employee must be convinced that there is a clear indication of intent to circumvent safeguards and that there is a use of the financial system for criminal purposes.
There may be cases where the manager disagrees with the officer, but the officer still feels they have reasonable grounds to suspect an irregularity. In such circumstances, the employee must inform the MLRO of their suspicions anyway. The employee may discuss the matter directly with the MLRO and is in no way obliged to inform or involve their manager. Upon receiving the internal report from the employee, the MLRO will acknowledge receipt in writing, referring to the report by its date and unique file number, without including the name of the suspected persons. In this way, the officer's legal reporting obligation will be considered fulfilled. The employee may only discuss the matter internally with management, or with other employees, if deemed necessary, after having obtained the MLRO's approval. Any external discussion is prohibited and will be considered tipping off. If circumstances arise that make it difficult for the employee to contact the player without running the risk of tipping them off, the employee must seek advice and follow the MLRO's instructions. This procedure will constitute Sellatuparley's internal procedure for reporting suspicious activities and transactions.
4.2.2 External Reporting Procedures
As already described in the previous section, the MLRO will receive and evaluate internal suspicion reports. They will open and maintain a log detailing the progress related to each report, noting any information that needs to be documented to ensure an adequate record is kept of the reasons leading to their decision. Such documentation can also be used to assist the Authorities in any analysis or investigation of suspected money laundering or terrorism financing, when such details are requested directly from the MLRO. This log will be held by the MLRO and will only be accessible to them, and will not form part of the player's file. The MLRO will collect all necessary information and raise any questions to any Sellatuparley employees as part of their investigation. Employees (whether they submitted the internal report or otherwise) will provide the MLRO with the relevant information. In doing so, they will not violate their client confidentiality obligation. Once the MLRO decides that there are reasonable grounds justifying the submission of an STR through the Authority's online filing system, they will make this formal disclosure to the FIAU on behalf of Games & More BV. No copies of internal or external reports will be made. The MLRO will keep such records secure. The MLRO shall, where appropriate, inform the author of the internal report whether or not a formal disclosure has been made. Following a formal disclosure, the MLRO will take the actions required by the Authorities in relation to the disclosure and, accordingly, follow their instructions.
4.2.3 What should give rise to a suspicious activity?
For the sake of clarity, STR reports will cover:
Any activity that leads Sellatuparley to think that a person is linked to money laundering/terrorism financing or the proceeds of crime, or that either is being committed or may be committed, regardless of whether transactions have taken place or not.
Any instance where objective facts lead Sellatuparley to have reasonable grounds to suspect that money laundering/terrorism financing or the proceeds of crime may be occurring.
Sellatuparley will be obliged to submit an STR to the FIAU regarding the activity carried out on the basis of its Curacao Gaming License and, consequently, notify the CURACAO GAMING AUTHORITY when deemed necessary and according to the instructions given by the FIAU.
4.2.4 Stopping / Continuing Work Following a Suspicion
Due to the nature of the gaming products and services offered by Games & More BV, and given the nature of the transactions in question, Sellatuparley will not always be in a position to refrain from executing a pending transaction prior to the submission of an STR. This is because if Sellatuparley refrains from accepting a transaction when it usually does so instantly, the delay in acceptance may make the player aware that they are suspected of engaging in fraudulent activity. Any delay could prejudice an analysis or investigation of the suspicious transaction. Therefore, whenever Sellatuparley suspects money laundering/terrorism financing, Sellatuparley will still proceed to execute the suspicious transaction. However, Sellatuparley will submit an STR to the FIAU immediately following the execution of the transaction.
4.2.5 Prohibition of Disclosure
Sellatuparley will not disclose any details or information in relation to an STR or a request for information made by the FIAU. This prohibition of disclosure applies both to the suspected player and to any other third party, and this regardless of any other regulatory or contractual obligations to which Sellatuparley may be subject. Sellatuparley will only make the necessary disclosures to the CURACAO GAMING AUTHORITY, as prescribed by applicable law. It will also be extremely careful when dealing with a player who is the subject of an STR or FIAU investigation. As explained above, this is to not prejudice an analysis or investigation.
✓ Disclosures to the Supervisory Authority, in this case the CURACAO GAMING AUTHORITY;
✓ Disclosures between subjects of the same group;
✓ Disclosures between a subject person carrying out a 'relevant activity' and another person carrying out similar activities and where the jurisdiction
imposes similar requirements. Persons who are within the same legal entity or within a larger structure to which they belong, sharing common ownership and management;
✓ Exchange of information based on the same transaction, where the persons in question and the related activity are subject to the same legal obligations and the persons are of the same professional category and, therefore, have similar obligations with respect to professional secrecy and data protection;
✓ Disclosures by a person in the course of proceedings initiated with respect to delays in executing transactions, where the person was actually following instructions according to the FIAU;
✓ Disclosure by a subject person to a supervisory authority as requested by the supervisory authority, in this regard, the CURACAO GAMING AUTHORITY.
Sellatuparley will also carefully consider any of the measures it decides to take regarding the suspected player, as a consequence of submitting an STR. So as not to jeopardize any investigation, before taking such action, Sellatuparley will seek guidance from FIAU analysts. Games & More BV will, as far as possible, consider such actions as a measure of last resort and will not unnecessarily burden the FIAU with every minor suspicion. In cases of minor suspicions that do not warrant reporting, it will instead increase ongoing monitoring and only send STRs to the FIAU once the suspicion persists or indicators increase. Sellatuparley will ensure appropriate documentation of such internal decision-making.
5. Payment Management Procedure
Whenever a player makes a withdrawal request, regardless of the payment method used, Games & More BV, before granting such request, will ensure that the institution to which the funds will be remitted is located in a reputable jurisdiction and has equivalent anti-money laundering / counter-terrorism financing requirements as those applicable to Games & More BV. Obviously, this also relates to the institutions from which player deposits are accepted. As a general rule, withdrawals will only be processed to the same source from which the funds originated. This measure will limit the risk of money laundering or financing terrorism through withdrawals.
Furthermore, cash deposits or withdrawals will not be affected. Withdrawal requests will be carried out according to the following procedure:
✓ Withdrawal requests will be processed immediately when requested.
✓ Cash withdrawals cannot be processed under any circumstances. Cash transactions are specifically prohibited and, in fact, there are no methods by which players can apply to process any transfer of funds in cash.
✓ Gameplay and all financial transactions will be checked.
✓ Sellatuparley will also consider whether individuals are playing fairly or if the gaming system has been manipulated in any way, or if the system, alternatively, is malfunctioning, and the player was somehow taking advantage of any error without subsequently informing Games & More BV, in accordance with the requirements of the Terms and Conditions.
✓ Reference will also be made to whether CDD verification has been carried out. If it has not yet been conducted due to the deposit requirement not being reached, an administrative decision is made as to whether it is deemed necessary to perform a CDD check at this stage before completing the withdrawal process.
✓ Risk assessment is also performed/verified to ensure the player's risk is determined with respect to their activity with Games & More BV.
✓ Applicable CDD requirements will be according to section 3.2 above.
✓ If the player fails to provide the necessary documents for verification to take place, when requested, or if it becomes clear that verification cannot be carried out because the person has acted fraudulently, withdrawals will not be processed. Once it is clear to Sellatuparley that the person was attempting to act fraudulently, it will block the player's account, void all winnings, and simply return the deposit to the account from which the funds originated.
✓ In the event that withdrawals cannot be processed to the account from which the funds originated, such as when the player is using Mastercard or Paysafecard, Sellatuparley will formally request verification documents from the player and will also request details of another payment system that can be confirmed to be in the player's name, thereby minimizing the risk of sending funds to a person who is different from the person who originally remitted the deposits. This process is implemented to discourage credit card theft and identity theft.
6. Training
Sellatuparley's policy is that all staff who have customer contact, or access to information concerning customer affairs, receive anti-money laundering training to ensure their knowledge and understanding are at the appropriate level. Furthermore, training will be provided at least once a year to maintain awareness and ensure compliance with the company's legal obligations. Any training provided will take into account the practicality of assigning different tasks to staff based on their role, and all accessible information will be based on a need-to-know basis. However, employees will be provided with training on the entire process, in order to ensure that each officer has a holistic understanding of the due diligence, KYC, AML, and payment procedures, as these are closely related.
In light of the seriousness of the obligations imposed by law and regulations, and the severity of potential penalties, the MLRO will ensure that information regarding these obligations is available to all staff members at all times. The MLRO will also ensure that ongoing training is provided, i.e., when the need arises, including based on direct requests made by employees.
Training programs will include tests to ensure each individual has reached the appropriate level of knowledge and understanding. Tests can be conducted in various ways, whether through formal testing, assessment through the discussion of case studies, or other means. Special attention will be paid to the training needs of senior management and the compliance team, whose knowledge and understanding must be more comprehensive.
The Human Resources (HR) Department will:
✓ Inform all staff members about the training programs they must undertake and the schedule for completing them;
✓ Verify that all staff members have completed the assigned training programs, issuing reminders to those who have not completed the programs according to the applicable schedule;
✓ Maintain records of the training completed, including the results of tests or other assessments demonstrating that each individual has reached an appropriate level of competence;
✓ Update employees' personal files with details of the training undertaken and the results obtained where applicable;
✓ Refer to senior management cases where staff members are unresponsive or whose results are unsatisfactory, to issue reprimands or provide additional training as per the individual case.
The MLRO will have full access to all records held by the Human Resources Department.
Upon completion of a training cycle, the HR Department will ensure the continuity of ongoing training and will also obtain updates from the MLRO regarding changes occurring in the field, so that HR can ensure up-to-date training is organized and provided to all staff members.
Line managers will also provide feedback to the Human Resources Department regarding: ✓ the effectiveness of the completed programs; and
✓ Making suggestions on different delivery methods.
Line managers will complement the training provided to support staff by giving day-to-day guidance on day to day on:
✓ The type of customer instructions and transactions that count as 'significant' and should therefore be brought to attention
✓ Identifying customer instructions and transactions that, although not of a nature usually considered 'significant', are somewhat unusual or anomalous
and should be considered with respect to a possible suspicion of money laundering or terrorism financing. The MLRO will determine the training needs for their own role and ensure they undergo Continuing Professional Education (CPE) as required to fulfill their legal obligations.
The objective of all training provided is to ensure that staff are capable of identifying any attempted or actual money laundering or terrorism financing activities carried out by players when they use the services of Games & More BV.
7. Keeping Records of Customer Due Diligence Information When information is collected for CDD purposes, the responsible service personnel will:
✓ Maintain records in the customer file.
✓ Record instances where requested information has not been received, or the explanations provided have not been satisfactory.
✓ Ensure all records are kept consistently so they are accessible and comprehensible to other authorized staff members, including the MLRO.
Records of transactions and customers from the date of the transaction and the end of the business relationship, respectively, are kept as long as Sellatuparley has a valid legal reason to maintain such records. Such reasons are strictly limited to the legal obligations that Games & More BV must comply with, such as anti-money laundering obligations, tax regulations, etc. Records are archived accordingly. Players have the ability to access transactions from their profile for a period of 2 months. After that timeframe, details regarding transactions can be requested through customer support at gmbvcuracao@gmail.com.
If Sellatuparley determines that a player's record should be kept for an extended period due to the fact that a report has been filed concerning that player, all relevant records will be kept on the live system and will not be archived. This is done to ensure that Sellatuparley complies with its anti-money laundering obligations. Once the inquiry/investigation has been completed and the MLRO has been informed accordingly, the records will be treated in a similar manner to all other information, and the same archiving policy will apply.
8. Compliance Monitoring and Management
Compliance with this policy will be constantly checked and guaranteed. The Board of Directors reserves the right to hire external auditors to verify whether the company is complying with the measures outlined in this procedure. The results of such audits and any recommendations for appropriate action will be reported to the Board of Directors. The latter will then seek feedback from management regarding the suggestions made by the auditors. Based on the recommendations and management's feedback, the directors will make a decision on which processes/procedures to modify or introduce. A timeline for implementation will also be discussed and decided. Feedback on the implementation of any changes must be reported to the directors, as they are ultimately responsible for the company's operations.
Obviously, the MLRO will be involved, and their input will be considered paramount regarding this process. They will be tasked with monitoring aspects of the company's CDD and anti-money laundering policies and procedures. Any deficiencies in these procedures or compliance therewith, requiring urgent remediation, will be immediately addressed by the MLRO, who will report such incidents to the Board of Directors as appropriate. They will also request the Board to provide the necessary support.
The MLRO will audit the procedure directly, at least once a year. The MLRO will also report their findings to the Board of Directors. This report will include:
✓ A summary of any changes in the regulatory environment in which Games & More BV operates.
✓ A summary of AML activities within the company, including the number of internal suspicion reports received by the MLRO and the number of disclosures made to the Authorities.
✓ Details of compliance deficiencies on which action has already been taken, along with reports on the outcomes.
✓ Details of compliance deficiencies on which action needs to be taken, together with recommended actions, including a suggested timeframe and required management support.
✓ An outline of plans for the ongoing development of the staff involved, including periodic training and awareness activities for all relevant staff.
Where management action is indicated, the Board of Directors will ask management to provide its comments and the timeline for when the necessary measures will be taken.
This procedure will be reviewed and updated at least every six months. However, this may occur more frequently if changes in legislation or guidelines are introduced at any time, or if deemed necessary.