ANTI-MONEY LAUNDERING
1. The purpose of Faro Entertainment N.V.'s AML (Anti-Money Laundering) procedures is to prevent the company from being used in money-laundering activities or schemes. This includes detecting and reporting any incidents, such as suspicious transactions, to the relevant authorities in accordance with applicable AML regulations. It also involves preserving all relevant information in the company's possession that may be required by authorities investigating suspicious activity, and cooperating with these authorities as necessary.
2. The Company is implementing the necessary components of an effective AML program, which include:
- Correct KYC (Know Your Customer) Procedures;
- Monitoring and assessment of player risk indicators and payment risk indicators;
- Mitigating risks through appropriate payout policies;
- Designating an AML Officer;
- Ensuring employees are aware of the risks, procedures, and their obligations regarding AML reporting;
- Periodically reassessing the situation and adjusting policies as needed to ensure their adequacy. This assessment should be appropriate and reviewed regularly in light of any changes, such as the introduction of new products or technology, new payment methods, changes in customer demographics, or any other significant changes. These reviews should occur at least annually. The MLCO (Money Laundering Compliance Officer) is responsible for monitoring, updating, and managing compliance with AML policies and procedures, as well as internal communication of these policies.
3. To access the games, Faro Entertainment N.V. requires prospective players to provide all mandatory information requested on the registration form on the website. This includes their name and surname, address and contact details, a valid email address, passport number, and relevant payment information (including credit card number and expiry date), all of which the client warrants to be true and correct. Faro Entertainment N.V. reserves the right to close an account if any information is proven to be false or misleading as verified by the company's mechanisms. For payouts, users must upload their passport and a utility bill. After review and approval of these documents, the payout will be processed.
4. Customer details are reviewed by the team to ensure accuracy. In certain cases, particularly when a customer becomes active, additional proof of address and identity may be requested. Some customers are automatically flagged as higher risk and are not allowed to make automatic deposits into the system. These customers are assigned a higher risk level based on various parameters, including, but not limited to: country of residence, country issuing the credit card, IP log, and the number of transactions within a specified period.
5. Users are not permitted to have more than one Member Account. If a user attempts to open more than one Member Account, all accounts they try to open will be blocked or closed. Any bets or winnings from these closed or blocked accounts will be voided, at the discretion of the casino administration.
6. Users must enter all mandatory information requested in the registration form, specifically their identity, address, and contact details, including a valid email address, place of residence, phone number, date of birth, and relevant payment information. All provided information must be true and correct.