Kyc

KYC and AML Policy

5sbet implements Know Your Customer (KYC) and anti-money laundering (AML) procedures to verify identity, assess risk, and monitor activity. This policy sets out the scope, governance, verification steps, ongoing monitoring, and customer rights in relation to KYC/AML compliance.

Scope and Governance

This policy applies to all 5sbet account holders and covers account opening, deposits, betting activity, and withdrawals. The policy is overseen by the designated AML Compliance Officer who reports to senior management. Material changes to this policy require approval by the AML Compliance Officer and the responsible governance body.

Customer Due Diligence (KYC)

• Identity verification: customers must provide valid government-issued identification (passport, national ID, or driving license) and confirm full name, date of birth, nationality, and residential address. Documents must be legible with required details visible; privacy protections may be applied where permitted by law.
• Address verification: a proof of address issued within the last three months (for example, utility bill, bank statement, or government correspondence) showing the customer’s name and address.
• Geolocation check: an IP-based geolocation screen is applied at onboarding to confirm eligibility to use 5sbet’s services in the customer’s jurisdiction.
• Contact verification: a confirmed email address and phone number are required.
• Single account rule: each natural person may hold only one 5sbet account. The company may suspend or close accounts believed to be duplicated or controlled by a single party.

Verification Levels and Triggers

1. Step 1 – Basic Verification: All users must complete Step 1 to enable withdrawal functionality. Data collected includes: first name, last name, date of birth, country of residence, residential address, gender (optional), and a copy of a government-issued ID plus proof of address; consent to data processing for verification purposes is required.
2. Step 2 – Intermediate Verification: Required when a deposit exceeds 2,000 EUR or a withdrawal is requested. The customer provides an official ID and may be subjected to an electronic identity check against trusted data sources. If the electronic check is successful, verification proceeds; if not available or fails, manual verification documents may be submitted.
3. Step 3 – Enhanced Verification: Required when deposits or withdrawals exceed 5,000 EUR. The customer must provide the source of funds and, where applicable, the source of wealth documentation (for example, employer letter, business ownership records, or bank statements showing the origin of funds). The account may be restricted, and withdrawals or deposits may be held until Step 3 is completed.

Source of Funds and Source of Wealth

For deposits at or above 5,000 EUR, 5sbet must obtain an explanation of the source of funds. Acceptable examples include employment income, business ownership, inheritance, investments, or other legitimate origins. The information is used solely to assess AML risk. If the origin cannot be established or verified, additional documentation may be requested or activity may be suspended until verification is satisfied.

Ongoing Monitoring and Suspicious Activity

5sbet applies ongoing transaction monitoring and a risk-based approach to detect unusual or suspicious activity. Monitoring occurs at two levels: (1) through trusted payment providers implementing AML controls, and (2) by dedicated AML personnel and systems reviewing customer activity for consistency with profile data. Transactions that appear atypical, such as inconsistent payment behavior, rapid changes in activity, or activity from high-risk locales, are escalated to the AML Compliance Officer and, where required, reported to the competent authorities in accordance with applicable law.

Reporting and Cooperation

The designated Money Laundering Reporting Officer (MLRO) coordinates the reporting of suspicious transactions to the appropriate authorities. 5sbet cooperates with regulators and law enforcement and maintains records in accordance with regulatory retention requirements.

Record Keeping

5sbet retains the records of customer identification and all transaction data for a minimum of ten years after the end of the business relationship or the date of the last transaction, stored securely and retrievably in accordance with applicable data protection laws.

Data Privacy and Security

All personal data collected under this policy is processed in line with 5sbet’s privacy policy and applicable data protection laws. Data is stored securely, access is limited to authorized personnel, and data is used solely for verification, risk assessment, and regulatory reporting as required.

Training and Awareness

Employees receive ongoing AML/KYC training, and internal procedures ensure consistent application of this policy across products and regions.

Customer Rights and Contact

Customers may inquire about their KYC data, request corrections to inaccurate information, or seek clarifications on data processing. For KYC/AML inquiries, customers may contact the 5sbet compliance team. 5sbet reserves the right to suspend or terminate a customer account and/or refuse service consistent with applicable law if KYC/AML requirements are not satisfied.