AML & KYC Policy

The purpose of this AML and KYC Policy, also known as the Policy on the Prevention of Money Laundering, Terrorist Financing and Know Your Customer (KYC) Procedures, is to:

• To educate employees on the prevention of financial crime and terrorist financing;
• Ensure compliance with local regulations;
• Assess and reduce the risks associated with customers, transactions and services using a risk-based approach.

This policy includes the following measures:

• Know Your Customer (KYC) principles;
• Monitoring and control activities;
• Suspicious transaction reporting;
• Training initiatives;
• Internal audits.

LalaBet is required by international and local regulations to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, human and drug trafficking, corruption, bribery and other financial crimes. Any suspicious activity must be dealt with immediately.

A key international standard for the prevention of illegal activities is Customer Due Diligence. In compliance with KYC regulations, LalaBet has established verification procedures under the AML and KYC frameworks.

Users must complete the KYC process after registering their account and in the following cases:

• Before making their first withdrawal, regardless of the amount;
• Upon depositing 2,000 EUR/AUD/NZD/CAD or its equivalent in virtual currency;
• When total monthly deposits exceed 7,500 EUR/AUD/NZD/CAD.

During the KYC process, users are required to provide:

• Full name;
• Country of residence.

The Compliance officer or authorized third party will verify the information by requesting appropriate documentation, which may include:

• A high-quality scan or photo of a passport or national ID showing full name, date of birth, passport number, date of issue and expiration, country of issue, and signature;
• A clear, high-resolution selfie.

1. Navigate to the “KYC” section of the user profile.
2. Click on “Verify your identity” and then “Upload new documents”.
3. Accept the terms and conditions and consent to data processing.
4. Select your country of residence and type of ID (passport or driver’s license).
5. Upload the required documents and click on “Confirm and proceed”.
6. Upload and confirm a selfie.
7. Review submitted information, ensure accuracy, and confirm.
8. The system will process the verification and your account status will be updated accordingly.

LalaBet may require users to complete the KYC process before their first deposit, even if the deposit amount is below 2,000 EUR/AUD/NZD/CAD, based on payment provider requirements.

LalaBet reserves the right to conduct additional user verification in cases of suspected fraud, money laundering or frequent large withdrawals. In such cases, users may be required to provide:

• A utility bill or bank reference (not older than six months);
• A high-resolution copy of a valid driver’s license.

Users acknowledge that KYC verification is mandatory for withdrawals and deposits under the specified conditions. Failure to provide the required documents may result in withdrawal denial or account suspension.

LalaBet does not accept users from certain jurisdictions, including but not limited to:

• United States and territories, France and territories, North Korea, Netherlands, Curacao, United Arab Emirates, Afghanistan, Aruba, Belarus, Cuba, Cyprus, Czech Republic, Germany, Spain, Ethiopia, United Kingdom, Iraq, Iran, Jordan, Cayman Islands, Lebanon, Lithuania, Libya, Myanmar, Malta, Oman, Pakistan, Puerto Rico, Palestine, Portugal, Qatar, Russia, Saudi Arabia, Serbia, Syria, Ukraine, British Virgin Islands, Samoa, Yemen.

Users from these regions are not permitted to access LalaBet’s services. Reasonable efforts will be made to prevent these users from registering or playing.

LalaBet reserves the right to refuse any user at its sole discretion without giving any reason. If the automatic verification fails, the user will be contacted to provide the necessary documentation. Failure to comply may result in withdrawal denial or account suspension.

The Compliance Officer, authorized by LalaBet, ensures the effective implementation of the AML and KYC Policy. Responsibilities include:

• Collecting user identification data;
• Developing and updating internal compliance procedures;
• Monitoring transactions and investigating unusual activities;
• Managing records for secure storage and access;
• Updating risk assessments on a regular basis;
• Providing law enforcement with necessary information.
  The Compliance Officer is authorized to cooperate with law enforcement authorities in matters related to money laundering, terrorist financing and other illegal activities.
  LalaBet partners with SUM AND SUBSTANCE LTD for KYC checks under a formal agreement. Both parties guarantee secure storage and processing of personal data in accordance with GDPR and LalaBet’s Privacy Policy.

KYC for virtual currencies focuses on age and identity verification. Licensees must comply with additional Master License Holder requirements when processing such transactions. LalaBet ensures that:

• Users provide proof of identity (passport, ID, driver’s license) and proof of residence (utility bill, letter from employer, or government certification);
• Players are at least 18 years of age and have a valid email address;
• Hardware-based KYC data (IP address, MAC address, browser info) is collected and stored to verify transaction consistency.

LalaBet has a strict zero tolerance policy against money laundering. Money laundering is defined as any attempt to mask the illegal origin of funds as legally obtained. All LalaBet affiliates must comply with the AML Policy, internal manuals and applicable laws. Violations may result in severe penalties, including fines and criminal charges.
LalaBet ensures compliance through:

• Advanced transaction monitoring to detect suspicious activity;
• Strict KYC procedures to verify users and prevent fraud;
• Cooperating with law enforcement and regulatory authorities.

Potential red flags for money laundering include:

• Unexplained refusal to comply with AML procedures;
• Transactions that are inconsistent with the user’s profile;
• Failure to provide legitimate proof of funds;
• A history of legal or regulatory problems;
• Frequent large cash deposits or unusual transactions between accounts.

All employees are responsible for monitoring and reporting suspicious transactions based on jurisdiction-specific criteria.

• Suspicious activity must be reported under all local laws and regulations;
• Risk-based systems and procedures are required to monitor ongoing client activities;
• Procedures must be in place to report fraudulent use of identification documents and suspicious activity to law enforcement and regulatory authorities.