[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$yAH5CJ_AA5":3,"custom-page-aml-ctf-and-sanctions-compliance-policy":6},{"staticData":4},{"success":5},true,{"page":7},{"id":8,"h1":9,"createdAt":10,"updatedAt":11,"publishedAt":12,"locale":13,"slug":14,"isNeedTableOfContents":15,"description":16,"components":17,"topBanner":16,"documentForDownload":23,"localizations":24},32,"Политика AML","2025-04-07T16:57:05.181Z","2025-09-11T14:48:25.011Z","2025-04-07T16:57:23.856Z","ru","aml-ctf-and-sanctions-compliance-policy",false,null,[18],{"id":19,"__component":20,"content":21,"script":22},33,"pages.text-content","\u003Cp style=\"text-align:center;\">\u003Cspan style=\"background-color:transparent;\">\u003Cstrong>Политика AML\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Date of effectiveness: 25.11.2024\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Approved on: 25.11.2024\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Definitions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">AML \u002F Compliance Department - The unit which has primary responsibility for the initiation and delivery aspects of the AML program within an Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Business relationship - Business or commercial relationship between a Customer and the Organisation and which is expected, at the time when the contact is established, to have an element of duration for a certain period (e.g. conclusion of an agreement between the Customer and the Organisation, continuous performance of gambling\u002Fbetting and monetary operations and transactions).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Close Associate - A natural person who, together with the Politically Exposed Person, is a member of the same legal entity or of a body without legal personality or maintains other business relationship.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Close family member - The spouse, the person with whom partnership has been registered (i.e. the cohabitant), parents, brothers, sisters, children and children’s spouses, children’s cohabitants.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Customer due diligence (CDD) - Identification of the Customer and verification the Customer’s identity on the basis of documents, data or information obtained from a reliable and independent source; assessment and, as appropriate, obtainment of information on the purpose and intended nature of the Business Relationship; the conducting of ongoing monitoring of the Business Relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the Organisations’ knowledge of the Customer.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Customer\u002FClient\u002FPlayer - a person that uses online gambling and betting services provided by the Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">FATF – The Financial Action Task Force.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">FIU – Financial Investigation Unit Curacao.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">High-risk third countries - countries identified as having strategic deficiencies in their AML\u002FCFT regime, which pose a significant threat to the Union’s financial system (Article 9 of Directive (EU) 2015\u002F849).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Identification - A part of Customer Due Diligence, allowing to ascertain the identity of a person on the basis of the personalised unique information directly related to that person.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Law – Law on the Prevention of Money Laundering and Terrorist Financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Money laundering (ML) - the doing of any act which constitutes an offence of money laundering and is defined in the Law on the Prevention of Money Laundering and Terrorist Financing of Curacao. The criminal acts cover all procedures that seek to change the identity of illegally obtained funds, arising from drug dealing, terrorist activities or any other crime in order to give impression that such money originated from legitimate or legal sources. Money laundering is the participation in any transaction that seeks to conceal or disguise the nature or origin of funds derived from illegal activities such as, for example, fraud, corruption, organized crime, or terrorism etc. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Organisation – Kirakau N.V., an online gambling institution established and authorized under the laws of Curacao (operates under a valid Certificate of Operation until application (OGL\u002F2024\u002F747\u002F0212) for a gaming license in progress with the Curaçao Gaming Control Board) and, therefore, falling within the definition of an institution that falls under the Curacao legisation on the Prevention of Money Laundering and Terrorist Financing. The term \"Company \u002F Organisation\" when used in these Policies also refers to the management bodies of the Organisation and the members of such bodies as well as the employees of the Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Policy – AML\u002FCFT and Sanctions Compliance Policy.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Politically Exposed Person (PEP) - Natural persons who are or have been entrusted with Prominent Public Functions and Close Family Members or Close Associates of such persons.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Prominent Public Functions: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">1. The head of the state, the head of the government, a minister, a vice minister or a deputy minister, a secretary of the state, a chancellor of the parliament, government or a ministry;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">2. A member of the parliament;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">3. A member of the Supreme Court, the Constitutional Court or any other supreme judicial authorities whose decisions are not subject to appeal;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">4. A mayor of the municipality, a head of the municipal administration;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">5. A member of the management body of the supreme institution of state audit or control, or a chair, deputy chair or a member of the board of the central bank;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">6. Ambassadors of foreign states, a charge d’affaires ad interim, commander of the armed forces and units, chief of defence staff or senior officer of foreign armed forces;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A member of the management or supervisory body of a public undertaking, a public limited company or a private limited company, whose shares or part of shares, carrying more than 1\u002F2 of the total votes at the general meeting of shareholders of such companies, are owned by the state;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">8. A member of the management or supervisory body of a municipal undertaking, a public limited company or a private limited company whose shares or part of shares, carrying more than 1\u002F2 of the total votes at the general meeting of shareholders of such companies, that are owned by the state, and which are considered as large enterprises \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">9. A director, a deputy director or a member of the management or supervisory body of an international intergovernmental organisation;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10. A leader, a deputy leader or a member of the management body of a political party.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Source of funds – means the origin of the funds involved in a business relationship or occasional transaction. It includes both the activity that generated the funds used in the business relationship, for example the customer’s salary, as well as the means through which the customer’s funds were transferred.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Source of wealth – refers to funds that the customer has acquired during a prolonged period of time and that make up the customer’s entire body of wealth (total funds). When determining the source of wealth, the main focus is the acquisition of information on customer’s activities that indicate how the customer acquired the wealth.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Terrorist financing (TF) - the solicitation, collection or provision of funds with the intention that they may be used to support terrorist acts or organizations. Funds may stem from both legal and illicit sources. More precisely, according to the International Convention for the Suppression of the Financing of Terrorism, a person commits the crime of financing of terrorism \"if that person by any means, directly or indirectly, unlawfully and willfully, provides or collects funds with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out\" an offense\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">1. SCOPE OF THE POLICY\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">As part of the commitment to maintaining the highest standards and following all relevant regulations, it is the Organizations’ policy to prohibit and prevent any cases of money laundering and terrorist financing. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Whereas the Organisation is Kirakau N.V., an online betting and gambling provider registered under the laws of Curacao with its registration number 160189 and operates under a valid Certificate of Operation until application (OGL\u002F2024\u002F747\u002F0212) for a gaming license in progress with the Curaçao Gaming Control Board and,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Money Laundering is the participation in any transaction that seeks to conceal or disguise the nature, or the origin of funds derived from the illegal activities. Money laundering involves not only the proceeds of drugs trafficking, but funds related to other illegal activities, including fraud, corruption, organized crime, terrorism, and many other crimes. Generally, the money laundering consists of three stages:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Placement: introduction of cash originating from illegal \u002F criminal activities into financial or non-financial institutions.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Layering: separating the proceeds of criminal activities form their source through the use of layers of complex financial transactions. These layers are designed to hamper the audit trail, disguise the origin of funds and provide anonymity.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Integration: placing the laundered proceeds back into the economy in such a way that they re-enter the financial system as legitimate funds. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Terrorist financing encompasses the means and methods used by terrorist organizations to finance their activities. This money can come from legitimate sources, for example from profits from businesses and charitable organizations. But terrorist groups can also get their financing from illegal activities such as trafficking in weapons, drugs or people, or kidnapping for ransom.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">This Policy is developed and periodically updated by the Anti-Money Laundering Officer of the Organization based on the general principles set up by the Board of Directors of the Organization in relation to the prevention of money laundering and terrorist financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Policy applies to all employees of the Organization and aims to setup key roles and responsibilities for the staff members as well as to ensure compliance with the following legislation:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">European Directive 2005\u002F60\u002FEC and European Directive 2018\u002F843 on the prevention of the use of the Financial System for the purpose of money laundering and terrorist financing as transposed into National Law (L188(I)\u002F2007-2018\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the National Ordinance on identification when rendering services (Landsverordening identificatie bij dienstverlening (LID), PB 2017, no. 92)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the National Ordinance on the reporting of unusual transactions (Landsverordening melding ongebruikelijke transacties (LMOT), PB 2017, no. 99).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">All amendments and\u002For changes of current version of the Policy must be approved by the Company’s Board of Directors.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">1.1 RESPONSIBILITIES AND RECEIPIENTS OF THE DOCUMENT:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Owner of the process: AML Officer\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Responsibilities:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">This document is binding to all employees of the Organisation whose job responsibilities are related to establishment and review of the business relationships.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In cases of violations of the Procedure, the detector of the violation immediately informs the head of his structural unit. If differences are found between the processes carried out in the Organisation and those determined in the procedure, the Owner of the process should be informed about this.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Recipients of the Document:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Customer support department\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Fraud Prevention department\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Payments department\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">AML department\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">2.  BOARD OF DIRECTORS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Board of Directors is responsible for ensuring that the Organisation complies with its obligations under the Law. The Board shall assess and periodically review the effectiveness of the policies, arrangements and procedures put in place to comply with the obligations under the Law, and to take appropriate measures to address any deficiencies. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The main duties and responsibilities of the Board of Directors in relation to the prevention of money laundering and terrorist financing mainly include:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Determining, recording and approving the general policy principles of the Organisation in relation to the prevention of money laundering and terrorist financing and inform the Anti-Money Laundering Officer accordingly\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Appointment of an Anti-Money Laundering Officer and determining his\u002Fher main duties and responsibilities and where is necessary, assistant compliance officers\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Approval of the AML policy and procedures\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Communication of the AML policy to all employees of the Organisation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Ensuring that the requirements of the Law and the AML Directive are applied, and that the Organisation maintains appropriate, effective and sufficient systems and controls for the prevention of money laundering and terrorist financing\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Ensuring that the Anti-Money Laundering Officer has full access to all documents and information necessary for the execution of his\u002Fher duties and responsibilities\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Ensuring that all employees of the Organisation know the Anti-Money Laundering Officer and report to him\u002Fher all suspicious transactions in accordance with the requirements of the AML Laws and the Directive\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Establishing a clear and quick reporting chain of suspicious transaction to the Anti-Money Laundering Officer\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Ensuring that the Anti-Money Laundering Officer has sufficient resources, staff and technology, for the effective execution of his\u002Fher duties and responsibilities\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Assessing and approving the Annual Report \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Reviewing the report submitted to the Board by the Anti-Money Laundering Officer\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Since the overall responsibility for the prevention of money laundering and terrorist financing lies with the Board of Directors, they are also responsible for the assessment and approval of the Annual Report prepared by the Anti-Money Laundering Officer and for taking any necessary actions as deemed appropriate under the circumstances to remedy any weaknesses and\u002For deficiencies identified in the Report.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">3.  INTERNAL AUDIT\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation has assigned an Internal Auditor in order to continuously test current practices and inform the Organisation in case there are any suggestions for improvements. The Audit is performed at least on an annual basis.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Any findings are being submitted to the Board of Directors which decides the necessary measures that need to be taken to ensure the rectification of any weaknesses and\u002For deficiencies, which have been detected. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">4.  ROLE AND RESPONSIBILITIES OF AML OFFICER\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer has the necessary authority, resources and expertise to carry out his\u002Fher relevant duties and responsibilities and also has access to all relevant information. The employees of the Organization are informed of the person carrying out AML role and on ways of contacting him\u002Fher.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> Currently, 1 employee has been assigned the role of AML Officer: Volodymyr Bakotskiy\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case of any changes in the structure of AML Department – this will be communicated to the Gaming Control Board accordingly.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">4.1 Responsibilities of AML Officer:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To draft the Organisations’ procedures and controls for the Prevention of the Money Laundering and Terrorism Financing\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To develop and improve Customer Acceptance Policy and submit it for approval of the Board of Directors\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To monitor and evaluate the sound and effective implementation of the Organisations general policy principals and to manage the associated risks in relation to the Prevention of Money Laundering and Terrorist Financing\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To ensure that KYC and EDD procedures are adhered to\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To ensure Sanctions Compliance procedures are adhered to\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To advise employees on issues arising as part of implementation of anti-money laundering program within the Organisation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To provide necessary materials and trainings on AML\u002FCFT and Sanctions Compliance to the employees of the Organisation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To immediately inform the Board of Directors of any cases of non- compliance with laws, regulations and directives issued by Curacao Gaming Control Board\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To recommend to the Board of Directors any amendments necessary to the AML Policy\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To receive and evaluate information from all personnel regarding suspicious client transactions and activities\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">If considered necessary – to report such transactions and activities to FIU Curaçao \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To ensure the preparation, maintenance and updating of lists of clients categorization following a risk-based approach.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To screen existing clients and transactions to ensure that the AML policies are followed and and verify whether any are subject to reporting according to the indicators mentioned in the Ministerial Decree regarding the Indicators for Unusual Transaction\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To detect, record and evaluate, at least on an annual basis, the risks arising from existing and new clients, new financial instruments and services and make any necessary amendments to the systems and procedures of the Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To review all internally reported unusual transactions for their completeness and accuracy with other sources; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To keep records of internally and externally reported unusual transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To execute closer investigation of unusual transactions if necessary;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To prepare and submit to the Commission the monthly prevention statement in a timely manner\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To Report to Senior Management, at least annually, on compliance issues indicating in particular whether appropriate remedial measures have been taken in the event of any deficiencies identified\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To prepare the Annual AML Report and submit it to the Board of the Directors\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To verify adherence to local laws and regulations regarding the detection and deterrence of money laundering and terrorist financing;  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> To organize training sessions for the staff on various compliance-related issues; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> To prepare the external report of unusual transactions; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> To make necessary changes to the AML program; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> To remain informed on the local and international developments on money laundering and terrorist financing and to make suggestions to management for improvements; and  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To prepare periodic information on the casino’s efforts against money laundering and financing of terrorism and financing of proliferation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">5.  AML ANNUAL REPORT\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Annual Report, prepared by the AML Officer is a significant tool for assessing the Organisations level of compliance with its obligations as these are laid down in the Law and the Anti-Money Laundering Directive. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Annual Report will be prepared and submitted for approval to the Board of Directors, within two months from the end of each calendar year (the latest by the end of February) and to the Curacao Gaming Control Board, if requested,  in preparation of or during an examination and upon GCB request during the year, together with the minutes of the meeting, during which the Annual Report has been discussed and approved. It is provided that the said minutes will include the measures decided for the correction of any weaknesses and\u002For deficiencies identified in the Annual Report and the implementation timeframe of these measures. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">5.1 The Annual Report should deal with money laundering and terrorist financing preventive issues pertaining to the year under review and, as a minimum, should cover the following:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information for measures taken and\u002For procedures introduced for compliance with any amendments and\u002For new provisions of the Law and the AML Directive which took place during the year under review\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the inspections and reviews performed by the AML Compliance Officer, reporting the material deficiencies and weaknesses identified in the policy, practices, measures, procedures and controls that the Organisation applies for the prevention of money laundering and terrorist financing. In this regard, the report outlines the seriousness of the deficiencies and weaknesses, the risk implications and the actions taken and\u002For recommendations made for rectifying the situation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The number of internal suspicion reports submitted by employees of the Organisation to the AML Compliance Officer, and possible comments\u002Fobservations thereon.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The number of reports submitted by the AML Compliance Officer to FIU Curacao, with information\u002Fdetails on the main reasons for suspicion and highlights of any particular trends\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information, details or observations regarding the communication with the employees on money laundering and terrorist financing preventive issues\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the policy, measures, practices, procedures and controls applied by the Organisation in relation to high-risk clients as well as the number and country of origin of high-risk clients with whom a business relationship is established.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the procedures applied by the Organisation for the ongoing monitoring of client accounts and transactions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the training courses\u002Fseminars attended by the AML Compliance Officer and any other educational material received\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on training\u002Feducation and any educational material provided to staff during the year, reporting, the number of courses\u002Fseminars organized, their duration, the number and the position of the employees attending, the names and qualifications of the instructors, and specifying whether the course\u002Fseminars were developed in-house or by an external organisation or consultants\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Results of the assessment of the adequacy and effectiveness of staff training\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the recommended next year’s training program.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on the structure and staffing of the department of the Compliance Officer as well as recommendations and timeframe for their implementation, for any additional staff and technical resources which may be needed for reinforcing the measures and procedures against money laundering and terrorist financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation will make the following items readily available at GCB request:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Its written and approved AML Compliance Program on money laundering, terrorist financing and financing of proliferation;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Records of its Business Risk assessment;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The name of each Compliance Officer responsible for the casino’s overall money laundering and terrorist financing policies and procedures and his\u002Fher designated job description;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Records of reported unusual transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Records of unusual transactions which required closer investigations;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Records of frozen accounts;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Schedule of the training provided to the casino’s personnel regarding money laundering, terrorist financing and proliferation of weapons;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The assessment report on the casino’s policies and procedures on money laundering, terrorist financing and financing of proliferation by the internal audit department or an external auditor;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The customer’s files including customer risk assessment, CDD, customer acceptance and transaction information.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">6.  MANDATORY RISK PROCEDURES AND THE RISK-BASED APPROACH\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">General\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The principle behind the Risk-Based Approach of the Company is that resources should be directed proportionately in accordance with the extent of the ML\u002FFT risks posed, so that the customers posing the highest risks receive the highest attention meeting regulatory needs while effectively combating ML\u002FFT. The application of a Risk-Based Approach should ensure that measures to prevent or mitigate ML\u002FFT are commensurate with the risks identified and that resources are allocated in the most efficient ways. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Policy sets the framework of the Company’s Risk-Based Approach that should be implemented. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">As regulation needs and risks always change, the AML Officer shall monitor and evaluate, on an on-going basis, the effectiveness of the measures and procedures of the adopted Risk–Based Approach. The AML Officer shall also be responsible for the development and implementation thereof, of all the other policies, procedures and controls according to the framework of the adopted Risk-Based Approach. The Board shall be responsible for reviewing the adequate implementation of the adopted Risk-based Approach by the AML Officer, at least annually.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">        Risk factors that must be taken into account, relating to: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client Category\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Jurisdiction\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Product\u002FService Type\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Transactions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Distribution Channels\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">6.1 ADOPTED RISK-BASED APPROACH\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The adopted Risk-Based Approach that is followed by the Organization, and described in the Policy, was built according to the following:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">recognising that the ML\u002FTF threat varies across Clients, countries and financial transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">allowing the Organisation to differentiate between Clients of the Organisation in a way that matches the risk of their particular profile and financial transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">allowing the Organisation to apply its own approach in the formulation of policies, procedures and controls in response to the Organisations’ particular circumstances and characteristics;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">helping to produce a more cost-effective system;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">promoting the prioritisation of effort and actions of the Organisation in response to the likelihood of ML\u002FTF occurring through online gaming and betting transactions. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Risk-Based Approach adopted by the Organisation, involves specific measures, indicators, and procedures in assessing the most cost effective and appropriate way to identify and manage the ML\u002FTF risks faced by the Organisation. Such measures include:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">identifying and assessing the ML\u002FTF risks emanating from profile particulars of Clients, amounts and particulars of deposits; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">managing and mitigating the assessed risks by the application of appropriate and effective measures, procedures and controls; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">continuous monitoring and improvements in the effective operation of the policies, procedures and controls;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">application of appropriate measures and the nature and extent of the procedures in line and as a result of different indicators. Such indicators include the following:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">geographical spread of the transactions and Clients \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the industry standard practices of providing online gaming and betting services \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the volume and size of transactions \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the country of origin and destination of Clients’ funds \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">deviations from the anticipated volume of transactions \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">recording the action(s) taken so the Organisation shall be, at all times, in a position to demonstrate to the Gaming Control Board that the extent of ML\u002FTF measures and control procedures it applies are proportionate to the risk it faces while providing online gaming and betting services.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">6.2 IDENTIFIED RISKS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Risk-Based Approach adopted by the Organisation involves the identification, recording and evaluation of the risks that have to be managed. Whereas online gaming and betting services that the Organisation provides are rendered predominantly in straightforward manner: to relatively few Clients or Clients with similar characteristics - then the Organisation shall apply procedures enabling to focus on those Clients who fall outside the ‘norm’.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The following are sources of risks which the Organisation faces with respect to ML\u002FTF and respective risk categories the Organisation shall take into consideration when adopting a Risk-Based Approach and building Client ML\u002FTF risk categorization:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client’s nature: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">PEPs \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients engaged in transactions which involve significant amounts of money \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients originating from high-risk countries or countries known for high level of corruption or organised crime or drug trafficking \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients reluctant to provide appropriate information \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients using VPN or Proxy servers to hide their IP addresses\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients using different devices to access the website of the Organisation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation’s services: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">amount, origin and destination of funds for deposits and withdrawals \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">deposit and withdrawal method\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">nature of the online gaming and betting industry \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> 6.3 TYPES OF CLIENTS REGARDING THEIR RISK PROFILE\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The adopted approach is considering that a risk assessment based on the above sources of risk should always be performed at the inception of a Business Relationship with a Client. However, a comprehensive risk profile may only become evident once the Client has begun transacting through an account and completed CDD procedure.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Taking into consideration the above and the fact that the Company will offer online gaming and betting facility and the fact that vast majority of its Clients will be applying on a non-face-to-face basis, following the performance of the CDD the Company shall label the type of Client and the risk profile (High risk, Medium risk, Low risk) according to the following different risk variables and indicators:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Indicators related to the Client\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">High ML\u002FTF Risk:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">PEPs\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients from countries that are selectively sanctioned\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">resident or origin in\u002Ffrom non-reputable jurisdiction according to the FATF list as amended from time to time\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">High Deposits\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">any other Client determined by the Company itself to be classified as such\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Or any unverified client \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Any of the above-mentioned indicators will automatically classify the account as High Risk\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Medium ML\u002FTF Risk:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client that holds all of the below indicators:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Verified client\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client that does not fall under any of the categories of High Risk or Low Risk\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">any other Client determined by the Company itself to be classified as such\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Low ML\u002FTF Risk:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client that holds all of the below indicators:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Resident and origin of an EEA jurisdiction\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Very low deposits\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the country of origin and\u002For destination of Clients’ funds are both EEA jurisdiction\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">client using only debit\u002Fcredit card or wire transfer\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">clients identified Face-To-Face\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Or\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">any Client who does not fall under the ‘Medium Risk’ or ‘High Risk’ categories \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The methodology that is being adopted will require the AML Officer to perform basic CDD in cases of Low ML\u002FTF cases, basic CDD and close monitoring in Medium risk cases, and EDD and close monitoring (on the specific indicator that increased the risk level) in cases of High Risk.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The intensity of monitoring all Clients’ accounts and examining transactions shall be based on the level of risk and, as a minimum, shall achieve the ability of identifying all high risk Clients.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003Cspan style=\"background-color:transparent;\">6.4 DYNAMIC RISK MANAGEMENT AND MONITORING \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Risk assessment and management is not an isolated event of a limited duration but rather a continuous process, carried out on a dynamic basis. Clients’ activities change, the same happens to the transactions used for money laundering or terrorist financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In this respect, it is the duty of the AML Officer to undertake regular reviews of the characteristics of existing Clients, new Clients, and the measures, procedures and controls designed to mitigate such risks. These reviews shall be duly documented, as applicable, and form part of the Annual Money Laundering Report.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">For the development and implementation of appropriate measures and procedures on a Risk-Based Approach, and for the implementation of the CDD, the AML Officer and the Client Support Department shall consult data, information and reports e.g. Clients with origin or residence in countries which inadequately apply FATF, and country assessment reports that are published in following relevant international listings:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">FATF\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Council of Europe Select Committee of Experts on the Evaluation of Anti-Money Laundering Measures\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The EU Common Foreign & Security Policy (CFSP)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The UN Security Council Sanctions Committees \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The International Money Laundering Information Network (IMOLIN) \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The International Monetary Fund (IMF) \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Office of Foreign Assets Control\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003Cspan style=\"background-color:transparent;\">Due to the nature of business of the Organisation, additional countries must be banned from the use of the services due to local and foreign gambling and betting regulations.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Additionally, the Organisation has implemented controls that monitor players activity and actions, that are unique to gambling and betting industries and are also a part of the fraud-prevention system, such as:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">use of VPN and Proxy Servers\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">use of different devices to access services \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">frequency of deposits\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">payment methods used\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">use of a variety of payment methods or sudden switch from one payment method to another\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">attempts to use cards that did not pass 3D secure verification\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">attempts to use cards with insufficient funds\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">use of several bank cards\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">attempt to withdraw funds through a payment method that has not been previously used\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Bet to deposit ratio\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Bet to current balance ratio\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Such triggers may influence the overall risk assessment of the customer, as well as may lead to a submission of suspicious activity report or account termination\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7. SANCTIONS COMPLIANCE POLICY\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The purpose of the Sanctions Compliance Policy is to set the high-level principles and standards of Kirakau N.V.  for the management and prevention of sanctions breaches and to establish an internal control framework that mitigates the risks associated with sanctions violations. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisations compliance with sanctions regulatory framework is vital for: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Avoidance of an administrative and\u002For regulatory action against the Organisation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Protection of Organisations reputation\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The recipients of the Policy are:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">AML Compliance Department\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Board of Directors\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Payments Department \u002F Back Office \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.1 WHAT ARE SANCTIONS AND EMBARGOES\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Sanctions and embargoes are political trade restrictions put in place against target countries with the aim of maintaining or restoring international peace and security.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Embargoes on exporting or supplying arms and associated equipment, technical assistance, trading and financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Financial sanctions on individuals in government, government bodies and associated companies, or terrorist groups and individuals associated with those groups. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Bans on imports of raw materials or goods to sanction countries\u002Fjurisdictions.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Restrictions on certain type of activities for certain entities subject to sectorial sanctions.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.2 AUTHORITES ISSUING SANCTION PROGRAMS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">OFAC (USA)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">EUROPEAN UNION\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">UNITED NATIONS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.3 TYPES OF SANCTIONS PROGRAMS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.3.1 Specific\u002FList based - relate to specific lists of named individuals, legal entities, organisations, vessels.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.3.2 General – cover certain countries or jurisdictions and restricts a number of activities such as export of certain goods, products, dual-used items etc. that can be used for military purposes (e.g. steel, chemicals, arms sales to a particular country).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.3.3 Comprehensive – cover all types of activities including business relationships and\u002For transactions connected with certain countries\u002Fjurisdictions subject to comprehensive sanctions (i.e. North Korea, Crimea).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.3.4 Sectoral – cover certain entities (and their majority subsidiaries) engaged in specific sectors of the Russian economy and restricts certain activities of these entities that involve new “debt” or “equity” or drilling activities.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.4 MEASURES APPLIED BY THE ORGANISATION FOR SANCTIONS COMPLIANCE\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.4.1. SANCTIONS RISK ASSESSMENT\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation shall carry out and document a sanctions risk assessment appropriate to the type of its activities, in order to identify, measure, understand and manage sanctions risk the Organisation is exposed to. In assessing sanctions risk the Organisation shall take into account at least following factors that have an impact on sanctions risk:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A) in relation to the activities of the Organisation:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- a region where the Organisation operates and provides services, including the state where the Organisation's structure – subsidiary, branch, representation – operates and provides services;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">-  services and products provided by the Organisation;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">B) in relation to the Organisation's customers, the Organisation takes into account circumstances affecting risk laid down in the Law on the Prevention of Money Laundering and Terrorism Financing: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- customer risk, \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- risk of the state and geographical risk,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- risks associated with services provided to customers and \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- service delivery channels, assessing them in the context of sanctions risk.  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.4.2 The Organisation shall carry out a sanctions risk assessment in relation to all sanctions and the sanctions risk assessment shall be approved by the Board of the Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.4.3 Based on the sanctions risk assessment, the Organisation shall establish an internal control system for sanctions risk management. Sanctions risk policies shall be approved by the Board of Directors.  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.4.4 Establishing an internal control system for sanctions risk management the Organisation takes into account at least following characteristics of elevated sanctions risk:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- the customer, customer's transactions are related to a territory or border area of a territory or state that is a subject of sanctions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- economic activity of the customer or if the customer is related to a military industry; sale, manufacture, import or export of dual-use goods subject to sectoral sanctions, or specialised foreign agencies (military design bureaux, space technology research agencies, etc.).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- the customer's economic or personal activities do not meet their declared economic or personal activities;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- the customer submits the same documents to justify several unrelated transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">- the documents supporting transactions submitted by the customer contain indications of fraud, providing evidence of possible evasion of sanctions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.5 KYC MEASURES ON NEW AND EXISTING CUSTOMERS FOR SANCTIONS COMPLIANCE PURPOSES\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation has implemented relevant KYC and due diligence procedures that ensure that upon onboarding and throughout the business relationship, the relevant parties are being screened against sanction lists. In the event of a match, an alert will be generated for further investigation by the AML Compliance Department.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.6 DUE DILIGENCE ON CUSTOMER TRANSACTIONS FOR SANCTIONS COMPLIANCE PURPOSES\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation has implemented relevant procedures and processes that ensure that transaction parties (meaning, that the screening is performed not only against the Customer, but also against the payments institution) are being automatically screened against sanction lists. In the event of a match, an alert will be generated for further investigation by the AML Compliance Department. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.7 IMPLEMENTATION OF AUTOMATED SANCTION SCREENING TOOL\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Kirakau N.V.  has introduced an IT-based solution to fulfil the screening obligations automatically. All of Organisations customers’ key data (such as name, surname, and address) is automatically exported and matched with the sanctions lists. These checks are performed on daily basis. The external service provider is responsible for the actuality of sanctions lists on daily basis and automatically performs regular checks of customers against the updated sanctions lists. If during the matching procedure a customer is marked as a potentially Restricted Party, this is defined as a match. This IT-solution simultaneously generates an alert message including all recorded matches, which is submitted to the AML Compliance Department. The automated IT solution performs: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Daily automated screening of existing customers and on-going screening of transactions against prevailing sanction lists\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">On-going monitoring of sanction programs administrated by the competent authorities in order to promptly implement the necessary measures and controls to ensure compliance with the sanctions programs\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.8 TESTING AND AUDIT OF AUTOMATED IT SOLUTION\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is the obligation of the AML Compliance Department to test the automated IT solution in order to ensure that the results received during screening are accurate and that the sanction lists are updated in a timely manner. The testing should be performed not less than every 6 months as well as at the point of introduction of new sanctions.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">7.8 FREEZING AND UNFREEZING ACCOUNTS SUBJECT TO SANCTIONS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Where required by applicable law, the Organisation will freeze assets in accounts of parties subject to specific sanctions or where the freezing is otherwise indicated. The Sanctions Policy also requires freezing of accounts pending review to determine if an asset freeze is required or a violation of law has occurred. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation must freeze accounts of parties subject to specific sanctions as follows: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Organisation must freeze accounts of parties where required under Curacao and E.U. laws; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Organisation must freeze accounts for parties sanctioned under U.S. laws where U.S. jurisdiction applies. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Frozen accounts may be unfrozen only by \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(a) authorization from the jurisdiction which required the freezing, or \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(b) an official removal of the specific sanctions leading to the asset freeze or blocking. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Organisation should not participate in transactions involving parties who are subject to specific sanctions implemented by EU, UN and “OFAC”, unless these transactions are allowed under the relevant sanctions, as confirmed in advance by the AML Compliance Department.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">8. CLIENT ACCEPTANCE POLICY\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The CAP will follow the principles and guidelines described in the Policy, and will define the criteria for accepting new Clients. This policy also defines the Client categorisation criteria which shall be followed by the Organization and especially by the employees which shall be involved in the Client account opening process.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer shall be responsible for applying all the provisions of the CAP. In this respect, the Client Support Department shall also be assisting the AML Officer with the implementation of the CAP, as applicable.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer shall review and evaluate the adequate implementation of the CAP and its relevant provisions, at least annually.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">General Principles of the CAP\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organization shall classify Clients into three various risk categories and based on the Risk-Based Approach described above. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">where the Client is a prospective Client, an account must be fully operational only after the relevant CDD and measures and procedures have been conducted, according to the principles and procedures set in the Policy. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">it shall be prohibited for persons engaged in the Company to open or maintain anonymous or numbered accounts or accounts in names other than those stated in the Client’s official identity documents. No account shall be opened in anonymous or fictitious names(s). \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">No account shall be made fully operational unless the Client’s CDD is approved by the AML Officer. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Criteria for Accepting New Clients (based on their respective risk)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organization shall accept Clients who are categorised as Low Risk Clients as long as the Client passed a CDD and as long the general principles under the current Policies are followed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The following list predetermines the type of Clients who are not acceptable for establishing a Business Relationship with the Organisation:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients who fail or refuse to submit, the required data and information for the verification of their identity, without adequate justification\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clients who ask to open or maintain anonymous or numbered accounts or accounts in names other than the client’s name stated in official identity documents\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Client who ask to transfer its initial deposit in cash\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Legal entities\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Account opened in the name of a third person\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The documents submitted appear to be faulty at the examination stage\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The client comes from one of the non-cooperative jurisdictions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The client has negative information\u002Freports on him or is under investigation \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The client is on the list of people involved in terrorist financing or known to be involved in activity connected to money-laundering\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Sanctioned individuals\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">9. CLIENT DUE DILIGENCE, IDENTIFICATION AND VERIFICATION PROCEDURES \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">APPLYING CDD AND IDENTIFICATION PROCEDURES  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Company shall duly apply Client identification procedures and CDD measures in the following cases:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">when establishing a Business Relationship \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">when there is a suspicion of ML\u002FTF, regardless of the amount of the transaction \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">when there are doubts about the veracity or adequacy of previously Client identification data\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">when there are significant amounts deposited in the Players account\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">when players engage in financial transactions equal to or above Naf. 4,000 ;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> carrying out occasional transactions above the monetary equivalent of NAf. 4,000;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">any other event when the AML Officer finds it necessary\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case a casino carries out an occasional transaction above the monetary equivalent of NAf. 4,000, it is still obliged to apply CDD measures. Casinos are also subject to this obligation when they execute a series of linked transactions which, though individually below the applicable threshold, would cumulatively meet or exceed the NAf. 4,000 threshold.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In this respect, it is the duty of the AML Officer to apply all the relevant procedures mentioned in this Policy.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Furthermore, the Customer Support Department shall also be responsible to collect and file the relevant Client identification documents, according to the record keeping procedures described in the Policy.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Further, the AML Officer shall be responsible to maintain at all times and use during the application of CDD and identification procedures with respect to required documents and data from potential Clients, as per the requirements of the Law and the Directive.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer shall be responsible to review the adequate implementation of all the policies and procedures mentioned in the Policy, at least annually.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisations commences the Business Relationship after it has duly performed at least the following actions:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Identified the Customer and, within an allowed time limit, verified its identity by collecting identification documents\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Determined the purpose and intended nature of the Business Relationship \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Assessed the ML\u002FTF risk of the Customer and allocated the Customer to an appropriate risk category in accordance with Procedure on Customers' risk assessment\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">applied appropriate CDD or EDD measures \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Screened the relevant persons against the relevant financial sanctions list \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case, where the Organisation cannot comply with customer due diligence requirements, such as:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">to determine whether the Customer operates on their own behalf or is controlled;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">obtain the information about the purpose and intended nature of the Customer’s Business Relationship;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">verify the identity of the Customer according to the documents, data or information obtained from a reliable and independent source;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">conduct the ongoing monitoring of the Customer’s Business Relationship, transactions performed during the course of Business Relationship \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">comply with the other requirement to apply the CDD or EDD measures,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">it does not establish a business relationship and terminates the business relationship, and considers, if necessary, reporting the case to the FIU Curacao.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">9.1 CUSTOMER IDENTIFICATION\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The initial identification of the Customer is performed through the review of the initial registration of the players’ account. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The registration collects the following information: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Account number (generated automatically)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Password\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Registration Date (generated automatically)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Security Question\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Answer to Security Question (double input required)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Phone number (must be verified)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Email Address (must be verified)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Surname\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">First Name\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Date of Birth\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Type of Document\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Document Number\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Document Issue Date\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Country\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Permanent Registered Address\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Nationality\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Identity number\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The following data allows the AML Department to perform their initial screening on the potential client. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">9.2 VERIFICATION OF DOCUMENTS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation, when verifying the identity of the natural person the AML responsible employee must:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">review the documents provided for verification of the customer to ensure that no fraud signs have been noticed;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">ensure that document provided for identity verification is valid and contains the persons photograph;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the Responsible employee must verify the data, documents, and information received from the Customer during the CDD using the documents, data or information obtained from a reliable and independent source.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">9.3 STANDARD KYC AND CUSTOMER DUE DILIGENCE PROCEDURES \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">This section sets out the minimum and standard identification and due diligence measures that should be applied to customers.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The risk classification that will be attributed to the customer following the risk assessment and scoring, will determine the further due diligence measures that should be applied for each of these customers.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The true identity of natural persons should be ascertained by obtaining the following information: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">True name and\u002For names used as these are stated on: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the official valid identity card (front and back) or the official valid passport, if the person in question is the national of a country within European Union; or\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the official valid passport, if the person in question is the national of country outside the European Union, which bears a photograph of the person\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">full permanent address, including the postal code\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Telephone number\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">E-mail address\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Date and place of birth\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Specimen signature (when obtaining the personal identification document)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Information on public positions which the person holds or has held in the last twelve months or previously, as well as whether he\u002Fshe is an immediate family member or close associate of a person who holds or has held in the last twelve months or previously a public position in order to determine whether the person is a PEP (should be obtained independently, through the screening database)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In addition to name verification, it is important that the permanent residential address of the customer is also verified by using one of the following means: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Obtaining a recent (up to 3 months) utility bill issued on the name of the customer (e.g. electricity, water, gas, waste) or copy of municipal tax bill or a bank statement from a reputable Financial Institution\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Telephone bills of a landline only or internet bills (where a landline is required) could also be accepted.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In order to protect against forged or counterfeit documents, the prospective customers should be required to produce a copy of the original document (not online statements).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Note: the utility bills provided, should be reviewed, in order to ascertain that there has indeed been consumption of the service that the utility bill corresponds to, as a way to determine that the information declared by the customer is true. Evidence of consumption will be a strong indication that the address declared by the customer, is indeed the true current residential address. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The document evidencing the proof of residence and the copies of the passport\u002Fidentity card pages containing all relevant information (at least passport’s\u002FID’s number, issuing and expiry date and country as well as the customer’s date of birth and a clear photograph of the documents owner and signature) should be kept in the customer’s file.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In addition, further to the information to be provided by the person him\u002Fherself, a search should be made through the dedicated software and on the internet in order to obtain information on public positions which the prospective customer holds or held for at least the last twelve months or previously as well as whether he\u002Fshe is an immediate family member or a close associate of such individual, in order to verify if the customer is a PEP. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10. ENHANCED IDENTIFICATION AND DUE DILIGENCE PROCEDURES FOR HIGH-RISK CUSTOMERS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation is required to take additional and enhanced measures in cases which by their nature, present a high-risk of money laundering and terrorist financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Apart from the Players accounts that have been classified by the Organisation as High-Risk, through its’ risk assessment, the Laws and Directives additionally specify the below categories of customers which should be classified as high-risk and where enhanced due diligence measures should be applied: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Complex and unusually large transactions or unusual types of transactions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Accounts of PEP’s\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Transactions with a natural person or legal entity established in a third country of high risk.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The minimum enhanced due diligence measures that should be applied for all High-Risk customers of the Organisation are: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Perform review and update of records of the customer at least once a year or at a shorter interval if necessary\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Taking more enhanced measures and supporting documentation to establish and verify the source of wealth \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Perform systematic and thorough monitoring of the transactional behaviour.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Obtaining additional information on the customer, like occupation, previous address and information available through public databases, internet, etc.; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Obtaining additional information on the intended nature of the business relationship;  Obtaining information on the source of funds or source of wealth of the player. Examples of source of funds include personal savings, employment, pension releases, share sales and dividends, property sales, gambling winnings, inheritances and gifts and compensation from legal rulings;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Obtaining information on the reasons for intended or performed transactions;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Obtaining the approval of senior management to commence or continue the business relationship;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Conducting enhanced monitoring of the business relationship;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Requiring the first payment to be carried out through an account in the customer’s name with a bank subject to similar CDD standards\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.1 Customers having complex or unusually large transactions or unusual type of transactions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation is required to examine, as far as reasonably possible, the background and purpose of all complex and unusually large transactions and all unusual types of transactions carried out without the apparent or legitimate purpose. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In order to further assess and determine whether such transactions or activities appear suspicious or not, the Organisation should classify the customer(s), engaging in such complex or unusually large or unusual transactions, as high-risk, in order to intensify the extent and nature of the monitoring of the business relationship. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Examples of complex or unusually large or unusual types of transactions include transactions that: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Are not in line with those expected on the basis of the Organisation’s knowledge of the customer and the business relationship or the category to which the customer belongs\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Constitute an unusual or unexpected type of transaction compared to the normal activity of the customer or the type of transactions associated with similar customers products or services, or\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Are particularly complex compared to other similar transactions related to similar items, products or customer services. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">When the Organisation detects complex or unusually large or unusual types of transactions, and it was not informed of the relevant economic rationale or the legitimate purpose or has doubts as to the accuracy of the information received, the Organisation should apply enhanced due diligence measures on the particular client(s) involved in the transaction(s) and ascertain whether the specific transactions raise suspicion or not. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Such enhanced due diligence measures, include but are not limited to:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Application of reasonable and adequate measures to understand the background and purpose of these transactions, e.g. by locating the source of the funds (by obtaining Bank statements, payslips or other documents that may provide relevant information) or by obtaining more information about the customer in order to determine the plausibility of the customer executing the specific transactions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Intensify monitoring of the implied transactions and the customer’s transactional history\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Monitoring of the business relationship on an annual basis, as provided for High-Risk customers in this procedure, or even more frequently if needed\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Assess whether the customer should continue to be classified as High Risk or further actions are needed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The set of enhanced due diligence measures to be applied for each customer will depend on the circumstances of each individual case and the characteristics that rendered the transaction complex or unusual.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2 Politically exposed persons (PEPS)\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The establishment of a business relationship with Politically Exposed Persons may expose the Organisation to increased risks, and it is considered one of the most important money laundering issues worldwide. The Organisation should be extra cautious when dealing with PEPs and as such they should be classified as High-Risk and enhanced due diligence measures should be applied. The Compliance department and other responsible employees should strictly comply with the provisions of the present Policy, regarding PEPs.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It should be stressed that the Organisation should be extra cautious when dealing with PEPs coming from High-Risk third countries facing widespread corruption problems and economic destabilization and that their standards of combating money laundering and terrorist financing are not equivalent to internationally accepted standards.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.1    For the purposes of the PEP’s definition, \"prominent public function\" means any of the following public functions:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(a)    Head of state, head of government, minister, deputy or assistant minister,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(b)    Member of parliament or similar legislative body,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(c)    Member of a governing body of a political party,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(d)    Member of supreme court, a constitutional court or other high-level\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(e)    Judicial body whose decisions are not subject to further appeals, except in exceptional circumstances,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(f)    Member of court of auditors and of the board of directors of Central Banks,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(g)    Ambassador, charge d'affaires and high-ranking officer of the armed and security forces,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(h)    Member of an administrative, management or supervisory body of a state-owned enterprises,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i)    Director, deputy director, director general of a Ministry and member of the board or equivalent function in an international organization,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">k)    Mayor.    \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is provided that none of the above-mentioned public functions shall be understood as covering middle-ranking or more junior officials.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i)    \"Family members\" shall include the following persons:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(a)    The spouse, or a person considered to be equivalent to a spouse of a Politically Exposed Person;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(b)    The children and their spouses or persons considered. to be equivalent to a spouse of a Politically Exposed Person,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(c)         The parents of a Politically Exposed Person.    \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(ii)    \"Close Associate\" of a Politically Exposed Person\" means a natural person:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(a)    Who is known to have a joint beneficial ownership of a legal entity or legal arrangement or any other close business relation with a Politically Exposed Person,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(b)    Who has sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the de facto benefit of a Politically Exposed Person.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is provided that when a PEP has ceased to have a prominent public function in the Republic or in a Member State or in a third country or in an international organization, the Organization considers the business relationship as High-Risk, for a period of at least 12 additional months. The Organization assesses each case and maintains the PEP classification for as long as deemed necessary beyond the lapse of the 12 months, including for the whole future duration of the business relationship.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In the case of individual customers, where the applicant falls under the definition of a PEP, then the account should be classified a High-Risk - PEP.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.2 In order to determine whether a prospective customer is a PEP, the Organization shall assess the below sources of information:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i)    Information provided by the person itself; \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(ii)    The Screening data base; it is stressed, however, that the classification of a person as a PEP by Screening Data Base does not necessarily mean that the person is indeed a PEP. On the other hand, if a customer is not classified as a PEP by the Screening data base but information collected from other sources as per (i) above and (iii) or (iv) below qualify him\u002Fher as a PEP, then that person should be still classified as a PEP,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iii)    Internet search,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iv)    Any other reliable publicly available information.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.3 Evidence for the search and the results from the above sources should be placed in the customer’s file. The Organisation assesses each case and maintains the PEP classification for as long as deemed necessary beyond the lapse of the 12 months, including for the whole future duration of the business relationship if deemed appropriate.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.4 If, upon the establishment of a business relationship, based on the above sources, a PEP is identified, and the business relationship is classified as PEP then the below additional enhanced due diligence measures should be followed:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i) The decision for establishing a business relationship with a PEP or of continuing an existing business relationship where a PEP has been identified in the course of the business relationship, should be taken by the Board of Directors. The request for such an approval should be accompanied with a short report on the customer's profile and the PEP's profile prepared by the responsible employee, in order to obtain an informed decision from the Board of Directors. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(ii) Before establishing a business relationship with a PEP, adequate information documentation should be obtained in order to ascertain not only the PEP's identity but also to assess their business reputation and\u002For integrity and\u002For professionalism (e.g. references from reliable third parties or internet searches that do not reveal concerns with reputation and\u002For integrity) if considered necessary,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iii) Adequate enhanced due diligence measures should be followed in order to establish the source of wealth and source of funds of the PEP that is involved in the business relationship in order to ensure that there are no funds originating from corruption or other criminal activity involved. The Organisation should focus on constructing the business \u002F economic profile by obtaining the information\u002Fdocumentation as per the provisions of the present Policy. The source of wealth should be established based on the information provided through the communication with a potential PEP, which should be verified by documents.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The regulatory framework emphasizes the importance of assessing particularly the sources of wealth of PEPs and requires the Organisation on a risk sensitive basis, to make every effort in order to verify the accuracy of the information provided by the PEP as to its wealth and the sources of this wealth against:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Publicly available information sources such as asset and income disclosures which some countries expect certain public officials to file,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Publicly available property registers and\u002For land registers,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Company registers,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Internet searches including social media,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iv) The profile of the expected business activity should form the basis for the future monitoring of the relationship. The profile should be regularly reviewed and updated with new data and information. Particular caution should be given where the customer is involved in businesses which appear to be most vulnerable to corruption.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">All above information\u002Fdocumentation should be placed in the customer's file as evidence.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.5 If upon the establishment of a business relationship, it is indicated on electronic databases that the applicant\u002F related individual is a PEP, however the Organisation has sufficient evidence to conclude that the individual in question has ceased to hold the public prominent position or in any other way does no longer fall under the definition of PEPs provided above, and should thus not be classified as High Risk - PEP, then this should be clearly evidenced in the customer's file. The customers file should include a note, adequately explaining the reason why it is the Organisation’s position that the individual does no longer fall under the PEP definition - in contrary to what it is potentially stated in electronic databases - and make reference to the online or other sources that justify this decision. Evidence\u002F copies of these sources (e.g. articles, websites, newspaper extracts, evidence provided by reliable third parties and other) should be placed in the file. The above should also apply to, cases where electronic databases do not classify an individual as PEP, however the Organisation has adequate evidence to conclude that the individual falls under the PEP definition and should thus be classified as PEP. Again, sufficient explanation should be added in the short note prepared for PEPs, as provided above in this section of the Policy, explicit reference should be made to the sources that the Organisation relied on in order to reach this conclusion, and sufficiently document everything in the file. The same approach should be also applied upon the review\u002F updating of the customer's file.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The above measures also apply for already established business relationships, where any of the natural persons involved becomes a PEP at any point throughout the business relationship. Such change in the customer’s categorization should also take place if screening system is not updated but this information is identified at any given time (e.g. during the review of any customer', where the natural person itself may inform the Organisation, etc.).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.2.6 Business relationships with PEPs should be subject to enhanced and on-going monitoring. The Organisation should perform on-going monitoring on both the transactions and the risk profile of the customer:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i) The review of the business relationship should be performed at least on an annual basis. The continuation of the business relationship should be approved by the Board of Directors. The thorough review of the transactional activity, as well as of the profile of the customer and the PEPs involved should be carried out by the AML Officer and the results of the review should be summarized on a short report. If, following the review, the AML Officer is satisfied that the business relationship should continue, the short report should accompany the request for continuation of the business relationship to the Board of Directors.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(ii) The report should include, as a minimum:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Basic details such as date of establishing the relationship, whether the relationship is dormant, etc.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A comment on the actual turnover of the players account and whether it is in line with the expected turnover of the account (the conclusions on the expected turnover, should be formed on the documented source of funds and source of wealth that has been confirmed by documents).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A reference to connected\u002Faffiliated customers of the Organisation.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">An express statement whether there is any suspicion for irregular activity of the client.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Clear recommendation to the Board of Directors for the continuation of the relationship or closure.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iii) During the ongoing monitoring of the transactions, the Organisation should be cautious in order to identify and pay particular attention to transactions that seem unusual\u002F out of the normal. Such transactions should be assessed based on the information maintained about the customer and the established business profile, and consider whether, in the light of the unusual transaction, the information maintained should be re- assessed and updated.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(iv) If during the above review, or ongoing monitoring of the business relationship and transactions any suspicions are raised, the provisions of the relevant section of the present Policy should be followed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">All documents concerning the renewal and the review should be placed together in the file.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.3 CUSTOMERS RELATED TO OR TRANSACTING WITH THIRD COUNTRIES OF HIGH RISK\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation classifies as High-Risk and applies enhanced due diligence measures, on customers physical persons who are nationals or residents of High-Risk countries.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Law defines as a High-Risk third country, a country indicated by the European Commission which presents strategic deficiencies in its national system for combating money laundering and terrorist financing which are considered as major threats to the financial system of the EU.    \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Additionally, countries and geographic areas is one of the risk factors that the Organisation, should consider when identifying and assessing risks of money laundering and terrorist financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Taking into consideration the \"Geographic Risk Factors\" for the assessment and classification of a third country as High-Risk, as well as a number of lists and statements of European and international organisations, the Organisation has developed a Country Risk Categorization Methodology (hereinafter the \"Methodology) on the classification of a third country as High risk, and how related customers and transactions shall be treated.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Based on the developed Methodology, the Organisation's list of High-Risk countries, includes inter alia jurisdictions which are:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Subject to Sanctions\u002F Embargoes,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Non- cooperative for tax purposes (EU list),\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">FATF countries that bear deficiencies in their system of money laundering and terrorist financing,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Under High Level of corruption, transparency, bribery etc.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is the AML Compliance Department's responsibility to maintain and update the list of High-Risk countries, resulting from the Methodology and to communicate it to the Board of Directors and any other responsible employees when updated and amended.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The responsible employees should refer to the Methodology, as a guidance on how each category of High-Risk affects the customers and their transactions related to the country category.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">For such customers and transactions, it is important to apply the enhanced due diligence measures especially regarding the establishment of the source of wealth, as per the provisions of the present Policy and the Organisation's Risk Assessment Policy. In addition:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(i) Customers with transfers to and from High-Risk countries should be automatically classified as High-Risk. However, a margin of deviation from this rule may apply, on a risk-based approach, based on qualitative criteria and the nature of the transaction. For example, low risk and normal risk customers who may carry out a single transaction or rare payments of small amount to one of these countries, may be acceptable without reclassification of the customer to High-Risk.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">(ii) Transactions with persons from the afore-mentioned countries with no apparent economic or visible lawful purpose should be examined with the aim of ascertaining their financial, purpose. If, as a result, it is considered that the Organisation cannot satisfy itself as to the legitimacy of the transaction, this should form a ground for suspicion and the relevant provisions of this Policy should be followed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.4 SCREENING DATABASE\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Screening database comprises names of natural and legal persons, countries, organizations, vessels etc., which may, inter alia, be:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Subject to sanctions\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Suspects for money laundering and terrorist financing activities,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Politically Exposed Persons.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Apart from the above, it provides information of general nature on the persons included in the data base such as positions held currently and, in the past, possible negative information regarding accusations against them of any nature such as for tax evasion, for legal litigations, for relationship with PEPs or criminals, etc.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It must be noted that the Screening database check must be performed, and any discarded hits (false positives) should be assessed, explained, and included in the customer's file.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case of true matches, these must be escalated to AML Department.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The database should be used screens the names of all active customers daily.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">10.5 INTERNET SEARCH \u002F MEDIA CHECK\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Internet \u002F media searches should always be performed on new applications and upon the review (either regular or ad hoc) of identification records or annual account review, for all clients and their relevant persons.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The internet search serves the purpose of identifying adverse media, obtaining as much information as possible in constructing the customer's profile, identifying whether the customer is a PEP or immediate family member or close associate of a PEP as well as of cross-checking the information provided by the customer.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In evidencing the search, the officer preparing the customer's file should add and sign the following confirmation on the conciliatory page: \"Internet search has been made\". Search results should be assessed and copies to be kept in the customer files. It is reminded that where there are negative articles or public allegations on the customer or its officials, all the public information identified should be disclosed and outlined clearly in the Customers file and an assessment made as to the actions needed by the Organisation (e.g. reclassification to High-Risk, close monitoring, termination, etc.). The assessment in such cases must be discussed for final decision with the AML Officer.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Confirming that an \"Internet search has been made\" and failing to disclose easily available negative information for further assessment is a direct breach of the provisions of this Policy and may lead to the Organisation not fulfilling effectively its AML obligations.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">11. ON-GOING MONITORING PROCESS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The constant monitoring of the Players’ accounts and transactions is an imperative element in the effective controlling of the risk of ML\u002FTF.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In this respect, the AML Officer shall be responsible for maintaining as well as developing the on-going monitoring process of the Organisation and use the appropriate IT systems in order to achieve highest monitoring abilities while keeping a cost-effective process.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer shall review the Organisations’ procedures with respect to the on-going monitoring process, at least annually.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The procedures and intensity of monitoring Clients’ accounts and examining transactions on the Client’s level of risk shall include the identification transactions which, as of their nature, may be associated with ML\u002FTF, unusual or suspicious transactions that are inconsistent with the profile of the Client for the purposes of further investigation. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case of any unusual or suspicious transactions, the head of the Client Support Department shall be responsible to communicate with the AML Officer. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Further to the investigation of unusual or suspicious transactions by the AML Officer, the results of the investigations are recorded in a separate memo and kept in the file of the Clients concerned the ascertainment of the source and origin of the funds credited to accounts.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Established minimum triggers, that would require an ongoing monitoring and request of additional documents:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Cumulative deposits equal or over 4000 NAf. in month\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Sudden increase in deposits\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">High loss amount\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Deposits coming from different payment systems\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Request for withdrawals through an alternative payment system, different from the deposit method\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It should be noted that these triggers are only samples of possible scenarios and each case should be treated on an individual basis, taking into consideration players transaction history, activity, previously obtained documentation and risk categorization.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation maintains relevant controls in order to track Players deposits and withdrawals, as well as have all the required technical requirements in order to review Players’ transaction activity starting from the account opening. The data can be segregated in periods or types of transactions. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">12. REVIEW AND UPDATING OF CDD\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is a requirement that the customers identification records should be examined on a regular basis so that it is ensured that they remain completely updated. In this respect, the procedures described below should be followed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">12.1 REGULAR REVIEW AND UPDATING\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The frequency of review and updating depends on the risk categorization of each customer and should be as follows:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Low risk customers: Not less frequently than once every 3 years,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Normal risk customers: Not less frequently than once every 1 years,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">High risk customers: Not less frequently than every 6 months. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">During the review procedure, the customer should be requested to confirm that the identification information held by the Organisation is still accurate and valid or advise changes that have taken place. In case that any change has taken place, the customer should be asked to present the relative supporting documentation \u002F evidence. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is pointed out that during the review process, new documents evidencing the permanent residential address of all natural persons should be obtained.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Responsible employee is required to send the letter with the requirements for the update of information and records, reminders and the warning letter where needed and follow-up completion of the review procedure.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Completion of the review procedure should be approved by the AML Officer in the same way as for the establishment of a business relationship.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The continuation of the business relationship with High-Risk customers should be approved by the AML Department and in some cases, by the Board of Directors (e.g. PEPs).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">13. TERMINATION OF THE BUSINESS RELATIONSHIP\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organization should proceed with the termination of the relationship with an existing customer who:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Had such changes in its status after the establishment of the relationship which turned it to be one of the prohibited types of customers as per the Customer Acceptance Policy,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Has a behaviour in its transactions and activities which makes it a customer of excessive high-risk,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Refuses or fails to provide updated information requested by the Organisation,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Has attempted to deceive the Organisation,    \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Breached any of the provisions of the Organisation’s Terms and Conditions that the Organisation deems of significance,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Has been convicted for any serious predicate offence, for which a Court Order or enquiry from an authority (e.g. FIU Curacao, Curacao Gaming Control Board) has been received and by maintaining the relationship may expose the Organisation to high AML or reputational risk,\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Before proceeding with the termination of a business relationship, the Organisation should make sure that the files of the customer are KYC compliant and that the records are up to date. In this respect:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">When a customer requests to proceed with the termination, or where the Organisation wishes to proceed with the termination of the business relationship with a customer, the Organisation should be satisfied that the data and profile information of the customer are up to date. If not, the Organisation should carry out any necessary actions - depending on the case - to ensure that the customer's status and records become updated, and that there are no concerns obstructing the Organisation from proceeding with the termination.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation shall not immediately proceed with the termination in cases where a customer's review and updating of records has not been completed. When review (either annual or ad-hoc) and updating of records is requested by the Organisation, and the customer does not provide all the necessary information for its completion this should constitute a ground of suspicion and it should be considered, whether it requires reporting to the FIU Curacao. Such cases should be treated, depending on the individual circumstances of each case. For example, if the Organisation can establish and be satisfied that, based on the circumstances and the customer's behaviour\u002Fattitude, not providing the required documentation does not raise any suspicions, then the Organisation may proceed with the termination. Evidence of such justification should be placed in the customers’ file.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">14. RECOGNITION AND REPORTING OF SUSPICIOUS TRANSACTIONS \u002F ACTIVITIES TO THE UNIT\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">14.1 REPORTING SUSPICIOUS TRANSACTIONS\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Whenever there is an attempt of executing transactions that raise reasonable suspicion of being related to ML\u002FTF, the AML Officer, reports the case to the FIU Curacao through the dedicated GoAML Portal in accordance with the current Policy.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">14.2 SUSPICIOUS TRANSACTIONS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The definition of a suspicious transaction as well as the types of transactions indicating ML\u002FTF is very broad. A suspicious transaction will often be inconsistent with the normal Business Relationship patterns of the specific account. The Company shall ensure that it maintains adequate information and knows enough about its Clients' activities in order to recognise on time that a transaction or a series of transactions is unusual or suspicious. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Examples of what might constitute suspicious transactions\u002Factivities related to ML\u002FTF are listed in Appendix 1 of the Policy. The relevant list is not exhaustive, nor it includes all types of transactions that may be used. Nevertheless, it can assist and serve as guidance to the Company and its employees (especially the AML    Officer and the Client Support Department) in recognising the main methods used for ML\u002FTF. The detection by the Company of any such transactions contained in the said list prompts further investigation and constitutes a valid cause for seeking additional information and\u002For explanations as to the source and origin of the funds and the circumstances surrounding the particular activity.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In order to identify suspicious transactions, the AML Officer shall perform the following activities: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">monitor on a continuous basis any changes in the Players’ transaction patterns\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">monitor on a continuous basis if a Player is engaged in any of the practices mentioned in Appendix 1 of this Policy.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Furthermore, the AML Officer shall perform the following activities:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">receive and investigate information from the Organisations’ employees, on suspicious transactions which raises reasonable suspicion of ML\u002FTF. This information is reported on the Internal Suspicion Report. The said reports are archived by the AML Officer \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">if, as a result of the evaluation, the AML Officer decides to disclose this information to the FIU, then a report is submitted to the FIU\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">if as a result of the evaluation described above, the AML Officer decides not to disclose the relevant information to the FIU, then he\u002Fshe fully explains the reasons for his decision on the Internal Evaluation Report\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">14.3 AML OFFICERS’ REPORT TO THE UNIT  \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">All the reports of the AML Officer will be send or submitted directly to the FIU Curacao.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">After the submission of a suspicious report according to the Policy, the Organisation may subsequently wish to terminate its relationship with the Client concerned for risk avoidance reasons. In such an event, the Organisation exercises particular caution in order not to alert the Client concerned that a suspicious report has been submitted to the FIU. Close liaison with the FIU is, therefore, maintained in an effort to avoid any impediment to the investigations conducted.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">After submitting the suspicious report, the Organisation adheres to any instructions given by the FIU and, in particular, as to whether or not to continue or suspend a particular transaction or to maintain the particular account active.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The FIU may instruct the Organisation to refrain from executing or delay the execution of a Client's transaction without such action constituting a violation of any contractual or other obligation of the Organisation and its employees.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Furthermore, after the submission of a suspicious report according with the current Policy, the Clients’ accounts concerned as well as any other connected accounts are placed under the close monitoring of the AML Officer.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation and its senior management and employees shall not disclose any details or information in connection with a report filed to the FIU or a request for information made by the FIU. It is not permitted to disclose information to the customer nor to third parties. Drastic action should only be taken when there is no other way out, since any unjustified action may alert the player. In such circumstances, it would be more advisable to increase on-going monitoring and submit additional reports to the FIU on any other suspected instances of ML\u002FTF. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">14.5 SUBMISSION OF INFORMATION TO THE UNIT\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Company shall ensure that in the case of a suspicious transaction investigation by the FIU, the AML Officer will be able to provide without delay the following information:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the identity of the account holders \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">data of the volume of funds or level of transactions flowing through the account\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">accounts detected in similar behaviour \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">in relation to specific transactions: \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the origin of the funds \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the type and amount of the currency involved in the transaction \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the form in which the funds were placed or withdrawn \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the identity of the person that gave the order for the transaction \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the destination of the funds \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the form of instructions and authorisation that have been given \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the type and identifying number of any account involved in the transaction\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15. RECORD-KEEPING PROCEDURES\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">PURPOSE OF KEEPING RECORDS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation shall retain records, including documentation and information, for use in an investigation into, or an analysis of, the possibility of ML\u002FFT. These records can be requested by the Curacao Gaming Control Board or the FIU Curacao or by other relevant competent authorities as required. The records maintained by the Organisation are extremely important to competent authorities responsible for analysis, investigation, law enforcement and prosecution since they may constitute evidence of the audit trail and of money flows. It is therefore crucial that subject persons adhere to the legal obligations applicable in this area.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">In case the Organisation will establish a documents\u002Fdata retention policy, the AML Officer shall ensure that the said policy shall take into consideration the requirements of the Law and the Directive.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The AML Officer shall review the adherence of the Company to the above, at least annually.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15.1 RECORDS TO BE RETAINED\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Client Support Department of the Organisation shall maintain records of all documents related to the verification process performed on a client in relation to all Business Relationships formed:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the Client identification documents obtained during the CDD, as applicable \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">monitoring reports obtained during and after the establishment of Business Relationship\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation should also retain the following records required as evidence of compliance with the Law and Directive and for statistical purposes:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">internal suspicious reports made to the AML Officer\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">reports made by the subject person to the FIU\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">a record of the reasons for not forwarding an internal report to the FIU\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">a record of AML Officer training provided, including: the date on which the training was delivered; the nature of the training; the names of employees receiving the training; the results of any assessment undertaken by employees; a copy of any hand-outs or slides;\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">other important records, including: any reports by the AML Officer to senior management\u002F Board of Directors made for the purposes of complying with the obligations under the Law.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15.2 PERIOD OF RETENTION OF RECORDS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation shall maintain the records for a period of at least five (5) years. The date of commencement of this time period depends on the type of records to be retained.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">With respect to CDD and\u002For EDD documentation, the time period of five (5) years commences from the date on which the Business Relationship is terminated. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">It is provided that the documents\u002Fdata mentioned above which may be relevant to ongoing investigations shall be kept by the Organisation until the FIU confirms that the investigation has been completed and the case has been closed.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15.3 FORM OF RECORDS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation maintains records in any one of the following forms: physical file, scanned form, computerised or electronic form.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Subject persons should use a standardised approach to record keeping and must ensure that the approach used enables the quick retrieval of records for the purposes laid out in Section 15.4 below.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15.4 RETRIEVAL OF RECORDS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Subject persons are required to maintain efficient record-keeping procedures that enable them to retrieve information in a timely manner when so requested by the relevant authorities acting in accordance with the Law and Directive.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">To this effect, the Organisation shall establish effective systems which are commensurate with the size and nature of its business and that enable it to respond efficiently, adequately, promptly and comprehensively to such enquires made to them by Curacao Gaming Control Board, the FIU Curacao or other relevant competent authorities in accordance with Law. The provision of this information is of particular importance in the context of procedures leading to measures such as freezing or seizing of assets, including terrorist assets.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">When requests for information are made by the Curacao Gaming Control Board or the FIU Curacao, the Organisation should ensure that it is able to reply to these enquiries in a timely manner but not later than five (5) working days from when the demand is made, unless the subject person makes representations justifying why the requested information cannot be submitted within the said time. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">15.5 CERTIFICATION & LANGUAGE OF DOCUMENTS \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The documents\u002Fdata obtained, shall be in their original form or in a copy form.  A translation shall be attached in the case that the documents above are in a language other than Dutch or English. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Each time the Company shall proceed with the acceptance of a new Client, the Client Support Department shall be responsible for ensuring compliance with the provisions of points above.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">16. EMPLOYEES’ OBLIGATIONS, EDUCATION AND TRAINING ON ANTI-MONEY LAUNDERING AND TF\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisations’ employees can be personally liable for failure to report information or suspicion, regarding money laundering or terrorist financing. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The employees cooperate and report, without delay, anything that comes to their attention in relation to transactions for which there is a slight suspicion that are related to money laundering or terrorist financing. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The employees are aware of their obligations of not tipping off customers, where there are any suspicions in regard to money laundering or when there is an ongoing investigation. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The organisation shall establish and adhere to proper policies and procedures in screening their employees for criminal records. The Organisation shall develop training programs and provide training to all personnel who handle transactions that may be qualified as unusual based on the indicators outlined in the Ministerial Decree regarding the Indicators for Unusual Transactions (N.G. 2015 no. 73). Training includes setting out rules of conduct governing employee’s behavior and their ongoing education to create awareness of the casino’s policies against money laundering and terrorist financing. Most areas of the institution should receive training, and the target audience should include most employees. But each segment should be trained on topics and issues that are relevant to them. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Training must at least address the following topics:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> a) New employees\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A general training of the nature and process of money laundering and terrorist financing, and the need to report any unusual transactions to the appropriate designated officer must be provided to all new employees who will handle customers or their transactions, irrespective of their level of seniority. They shall be made aware of the existing internal policies, procedures and regulations concerning money laundering, terrorist financing, proliferation of weapons and the reporting requirements. They must also be trained on the money laundering methods and trends in the gambling sector. They must receive an explanation on customer due diligence and objective and subjective indicators for reporting unusual transactions.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> c) Audit staff\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Those charged with overseeing, monitoring and testing money laundering controls should also be trained about changes in regulation, money laundering methods and enforcement, and their impact on the organization.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> d) AML Compliance staff \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">People authorized to perform functions related to the provision and implementation of the AML policy will need specialized training to be able to stay on top of new trends or changes that impact the organization and the way it manages risk. This will require attending conferences or AML-specific presentations to go into greater detail.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\"> e) Supervisors and Managers\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A higher level of instruction covering all aspects of money laundering, terrorist financing policies, procedures and regulations must be provided to those with the responsibility to supervise or manage the staff. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">f) Senior management and board of directors\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Money laundering issues and dangers should be regularly and thoroughly communicated to the board. This to keep board members aware of the reputational risk that money laundering poses to the institution. Refreshment training must be arranged at regular intervals to ensure that staff members are kept informed of current and new developments regarding money laundering and terrorist financing techniques, methods and trends. To demonstrate compliance with aforementioned staff training guidelines, the casino shall maintain records that include:  Details on the content of the training programs;  The names of the staff members who have received the training;  The date on which the training was provided;  The results of any testing carried out to measure staff understanding of money laundering and terrorist financing requirements; and  An ongoing training plan.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation will organize internal and external training for its employees and AML\u002FCFT compliance officer.  The AML Officer will additionally provide training to the employees of the Organisation, when needed. The main purpose of the training is to ensure that relevant employees become aware of:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the AML Law of Curacao \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the European Union laws and directives \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the Organisations’ Anti-Money Laundering Policy and relevant Procedures\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the statutory obligations of the Organisation to report suspicious transactions \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the employees own personal obligation to refrain from activity that would result in ML\u002FTF\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">the importance of the Clients’ due diligence and identification measures requirements for ML\u002FTF prevention purposes. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The training program will have a different structure for new employees and existing employees. On-going training shall be given at regular intervals so as to ensure that the employees are reminded of their duties and responsibilities and kept informed of any new developments.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Organisation will keep documented records, in regard to the trainings attended, dates and the names of the employees that have received the training. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">17. REVIEW AND UPDATE OF THE POLICY\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The adequacy of internal control measures intended for the prevention of money-laundering and terrorist financing shall be regularly revised in order to ensure that the measures implemented remain up-to-date and are proportionate to risks arising for the Organisation. The AML Policy must be reviewed at least annually as well as in the event of any changes in the applicable regulations and\u002For in cases when provision of new services are being considered.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Appendix 1\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">EXAMPLES OF SUSPICIOUS TRANSACTIONS\u002FACTIVITIES RELATED TO\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">MONEY LAUNDERING AND TERRORIST FINANCING\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The transactions or the size of the transactions requested by the Client do not comply with his usual practice and activity. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Large volume of transactions. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">The Business Relationship involves only one transaction, or it has a short duration. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Any transaction the nature, size or frequency appear to be unusual. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Instructions of payment to a third person. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Transfer of funds to and from countries or geographical areas which do not apply, or they apply inadequately FATF’s recommendations on Money Laundering and Terrorist Financing.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A Client is reluctant to provide complete information when establishes a Business Relationship. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A Client provides unusual or suspicious identification documents that cannot be readily verified. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">A Client’s home\u002Fmobile telephone is disconnected. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Unexplained inconsistencies arising during the process of identifying and verifying the Client (e.g. previous or current country of residence, country of issue of the passport, documents furnished to confirm name, address and date of birth etc). \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Attempts to deposit funds through one payment system, but arranging the withdrawal of funds through another\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Receiving alerts from PSPs that the credit\u002Fdebit card is lost\u002Fstolen\u002Ffrozen\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Appendix 2\u003C\u002Fspan>\u003C\u002Fp>\u003Cp> \u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Prohibited countries list:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Cuba, Iran, North Korea, Syria, Ukraine (Crimea, Donetsk, Luhansk), Russian Federation, Burma, Côte d’Ivoire, Congo, Eritrea, Iraq, Lebanon, Liberia, Libya, Somalia, Afghanistan, Burma (Myanmar), Central African Republic, Congo, Ethiopia, Sudan, Venezuela, Yemen, Zimbabwe, Australia, Austria, Belgium, Belize, Bulgaria, Colombia, Croatia, Curacao, Denmark, Estonia, Finland, France, Georgia, Germany, Italy\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color:transparent;\">Netherlands, Panama, Portugal, Romania, Spain, Sri Lanka, United Kingdom, United States, Aruba, Bonaire,  Saba, Statia, St. Martin\u003C\u002Fspan>\u003C\u002Fp>",{"data":16},{"data":16},{"data":25},[]]