Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy – hotbet.live

Objectives of the AML & KYC Policy

The primary aim of this policy is to prevent our platform from being misused for illicit activities such as money laundering, terrorist financing, or fraud. By implementing structured identity checks, ongoing monitoring, and risk-based procedures, we ensure a safe environment for users and stakeholders alike.

Legal & Regulatory Foundations

• EU Directive 2015/849 – Prevention of misuse of the financial system for money laundering.
• EU Regulation 2015/847 – Ensuring transparency of fund transfers.
• Iranian AML Law (1386/2007) – National regulations on cash restrictions and AML obligations.
• GDPR & Iranian Data Protection Act – Safeguarding personal data and privacy.

Defining Money Laundering

Money laundering typically involves converting or transferring assets derived from criminal activity to make them appear legitimate. Key elements include:

• Transferring illicit funds to disguise their origin.
• Concealing ownership or control of such assets.
• Using criminal proceeds knowingly.
• Facilitating or abetting legal entities in laundering.

Governance & Organizational Structure

At The New Address of hotbet.liveht is retained by the executive and management team. We appoint an Anti-Money Laundering Compliance Officer (AMLCO) to oversee compliance, updates, and staff training. Major policy revisions require board-level approval.

Three-Step Verification Process

Step 1: Basic Identity Verification

All users seeking withdrawals must first complete basic verification, which includes providing:

• Full Name
• Date of Birth
• Gender
• Country & Residential Address

Step 2: Document Verification

This step is triggered when deposit or withdrawal amounts exceed USD 2,000. It involves:

• Uploading a government-issued ID with a handwritten six-digit code.
• Submitting a selfie or facial photograph.
• Electronic validation via public databases.
• If electronic checks fail: submission of proof of residence (e.g. utility bill or certificate).

Step 3: Source of Wealth / Funds (SOW)

This step is mandatory for:

• Deposits or withdrawals above USD 5,000
• Transfers to other users exceeding USD 3,000

Users are required to provide documented proof of fund origin (e.g. employment income, business revenues, inheritance, investments). Accounts may be temporarily restricted until verification is complete.

Required KYC Documentation

Identity Documents

• Passport, National ID, or Driver’s License
• All four corners of the document must be visible
• Photo must match submitted ID

Proof of Address

• Utility bill, bank statement, or official government correspondence
• Issued within the last 90 days
• Clear, legible, with all edges visible

Source of Wealth Documentation

• Employment contracts, pay slips
• Business registration or financial statements
• Inheritance documents, investment statements
• Bank statements indicating fund flows

Risk Categorization & Jurisdictional Assessment

Ongoing Monitoring & Transaction Surveillance

Automated Monitoring System

• Real-time detection of unusual deposit/withdrawal patterns
• Alerts for sudden account behavior changes (IP, device, location)

Manual Compliance Review

• Flagged accounts undergo detailed manual assessment
• AMLCO and team cross-check findings and documentation

Escalation & Reporting

• Confirmed suspicious activities are reported to Financial Intelligence Units
• Business relationships may be terminated if compliance is breached

Enterprise-Wide Risk Assessment (EWRA)

Annually, we conduct a comprehensive risk review considering:

• Transaction types and volumes
• User demographics and geographies
• Payment and withdrawal channels
• Emerging financial risk vectors

Data Retention & Security

KYC and user identity data stored for at least 10 yearssure.
Transaction logs securely stored for 10 years.
All data encrypted; access strictly controlled.

AML Training & Internal Compliance

• Mandatory AML training for employees in finance or compliance roles
• Refresher courses and updates aligned with evolving laws
• Training delivered by certified AML specialists

Reporting Suspicious Events

Our personnel are required to report any instances such as:

• Unverified identity or documentation
• Unexplained fund sources
• Sudden deviations from normal user behavior

Such reports are escalated to the AMLCO and, if warranted, shared with relevant authorities.

Privacy & User Rights

We are fully committed to safeguarding your personal information. Data is never sold or disclosed except under legal obligation. We comply with GDPR and applicable data protection laws to maintain privacy and security.

Contact & Support

If you have any questions, concerns, or requests regarding this AML & KYC policy at The New Address of hotbet.live  please reach out via:

• Email: [email protected]
• Phone: +98 51 593 1363
• WhatsApp: +98 900 567 4922

Support Hours: 24/7

Policy Updates & Governance

This policy is subject to annual review or more frequent updates based on new laws or operational changes. All updates are formally approved by senior management and the AMLCO.