AML Policy for Khelo24
At Khelo24, it’s our policy to uphold the principles of the highest standard of integrity and transparency in all our activities. Money laundering and terrorism financing are unlawful activities and, therefore, we have developed the following Anti-money laundering policy. We want to make sure that it is safe and compliant with the laws and regulations of the users visiting our application.
- Purpose of the AML Policy
The purpose of this AML Policy is to:
Prevent frauds and scams and fraudulent misuse of the Khelo24 online platform for financial frauds and scams and money laundering.
Be aware of, acknowledge, and observe all the legal and regulatory frameworks.
Safeguard the platform, people, and stakeholders in general from criminal activity linked to money laundering.
- Essentials Aspects of the AML Policy
2.1. Customer Due Diligence (CDD)
To ensure the legitimacy of our users, we implement a robust customer verification process, which includes:
Identity Verification: Gathering and confirming the authenticity of identification documents that are acceptable as proper identification (e.g. passport, identification card).
Address Verification: Aspire to such standards: Documentary proof of address (Utility bills, Bank statements, etc.)
Age Verification: Make sure that all the users are above the age of 18 years as a requirement for using the facility.
2.2. Monitoring Transactions
We closely monitor transactions to identify any unusual or suspicious activity, including:
Fraudulent activities usually involve multiple transactions of above or below the average size.
Payments to/do with countries/individuals of higher risk.
Any endeavor that aims at disguising the source of funds.
2.3. Record-Keeping
Khelo24 maintains detailed records of all user activities, including:
Account registration details.
Transaction histories.
Records of communication connected with AML compliance.
Records are also kept secure and can be further retained for some time not less than five years as per legal provisions.
- Telling People About Suspicious Activities
Khelo24 being a responsible betting site has banned any engagement with the said account especially since the company has a strict no-tolerance policy towards any form of malicious activity. Our AML team is trained to identify and report:
Boutique reports, or any other type of report that shows suspicion in the transaction.
Fraud or cheating to avoid or evade other standard procedures of identifying a customer.
Production of forged or fake academic documents.
Submissions to the appropriate persons are done to legal requirements.
- User Responsibilities
As a user of Khelo24, you are required to:
Be properly registered and verified by regaining accurate information through registration forms.
As a way of reducing credit risk claim only legal methods of financing for gaming and betting activities.
The company requires users to report any fraudulent or suspicious activity in their account to Khelo24 at once.
Inability to meet all of these responsibilities may lead to having the account suspended or even closed.
- Prohibited Activities
The following activities are strictly prohibited on Khelo24:
Being used to fund illicit business activities such as money laundering or several other unlawful financial activities.
Giving fake and/or fake data during the verification process.
Carrying out activities that are a violation of stipulated AML laws and regulations, more so regardless of the country in which the particular legislative requirement is recognized.
- Staff Training and Awareness
Khelo24 provides regular training to its staff to ensure they are well-equipped to:
Discover possible schemes of money laundering.
Ensure that the formulated AML policies are well and effectively implemented.
Any suspicious activities should be reported to the compliance department without any delay.
- Commitment to Compliance
Khelo24 would like to state that it is fully committed to compliance with all the relevant AML laws and regulations. The current company policies and procedures are updated often to ensure that they conform with the current laws.
- Contact Us
If you have any questions about our AML Policy or wish to report suspicious activity, please contact our AML compliance team:
Email: support@khelo24.org.in
It is always our mission here at Khelo24 to ensure that the clients we provide our services to are fully protected about the games they are playing. Working as a team, we ensure that no unlawful occurrences occur making it safe and secure for everyone using our services.