AML
AML (Anti-Money Laundering) policy
Crypto Competitions is aware that offering services related to online gaming may pose a risk for money laundering and terrorist financing. To identify, prevent, and limit the risks of money laundering and terrorist financing. We have implemented measures, processes, and internal controls into its daily business operations, which consider the nature of the Crypto Competitions clients and services carried out by us. With these measures, processes, and internal controls in place CC Block B.V. meets all legal requirements related to measures preventing money laundering and terrorist financing, as required by applicable Curacao legislations. We have prepared AML Policy regarding the prevention of money laundering to prove its commitment for detection, prevention, and reporting to national authorities of all attempts of using our services for any kind of transaction which would meet the statutory definition of money laundering and/or terrorist financing, or which presents any other form of illegal financial transactions. AML Policy is modified and upgraded by changing legislation and good practice in the industry. The content of the AML Policy covers:
- the internal organization of processes related to prevention of money laundering;
- due diligence process (also known as “Know your customer or KYC”)
- money laundering risk assessment;
- non-eligible and eligible categories of clients;
- enhanced due diligence measures;
- reporting obligations (towards competent authorities).
In order to comply with Anti-Money Laundering (AML) procedures, we require a 1x ticket purchase before initiating a winning payout. Failure to meet this requirement may result in restrictions or denial of withdrawal until it is fulfilled. Once the one-time ticket purchase requirement is met, users will receive winnings if their ticket number is randomly drawn.
