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Sign Up NowWhen providing services to Royal Reels 16 customers, the company follows a series of protocols that it puts in place to ensure compliance with applicable laws, regulations, and international standards. Customer due diligence, KYC, monitoring account holder activity, reporting suspicious transactions, recordkeeping, risk management, risk categorisation, and the money laundering reporting officer are all part of these processes.
When it comes to its customers, the company takes a risk-based strategy to identify and avoid any problems including money laundering, terrorist funding, and fraudulent transactions.
There are two parts to the Company's risk categorisation system:
Because of their low risk status, all participants are required to undergo normal due diligence processes, such as providing the Know Your Customer (KYC) documents outlined above and having their account activity monitored continuously.
The main element that determines the high-risk rating is the player's activity. An extended due diligence approach will be implemented if an automatic alert has been created or if suspicious behaviour has been observed, classifying the player as high risk. Not restricted to the examples given earlier, there are other situations that might also deserve a high-risk rating.
A corporation must know its clientele in order to comply with local regulations and international standards. To keep a business and the economy secure, it is essential to have a solid Know Your Customer (KYC) strategy and process in place. This is why the following measures have been implemented by the Company:
Only those who have registered and received a Player Account are allowed to play games that involve money. No individual, household, or business may have more than one Player Account. In order to become a player, one has to provide the necessary Know Your Customer details:
Please provide your date of birth and a valid form of identification proving that you are at least eighteen (18) years old, or the age of majority in your jurisdiction, whichever is greater. A valid passport, another form of identity, and proof of address are the necessary pieces of identification.
Name of the player, both first and last.
Full home address of the player?
The email address of the player must be genuine.
Information on the payment.
Passwords and user IDs.
The applicant's computer IP is geo-referenced throughout the registration process to verify that they are in a valid country. Unfortunately, the registration procedure will be halted if the applicant is not in an authorised jurisdiction. After receiving the submitted information, the Company will analyse it and may ask for more paperwork to confirm the details. If the Company discovers that the information provided in the Player Account is inaccurate or misleading, the Player Account may be cancelled or placed on hold until adequate information is obtained.
After reviewing the given Know Your Customer information, the Company has the right to reject or cancel a Player Account at its discretion.
Players are firmly forbidden from sharing their login data with any other party. If a third party obtains the login information for a Player Account, the Company has the right to deactivate the account without providing a refund.
A current copy of the Player's utility bill or bank statement, together with a valid passport or driver's licence, is required by the Company for the purpose of identification verification. The procedure may be carried out at any point throughout the onboarding process, in response to a withdrawal request, or at the Company's discretion.
Phone verifications of Player Accounts are also within the Company's purview; these verifications may include checking facts like name, home address, email, phone number, picture ID, payment methods, bet kinds, amounts, and event details. The Company has the right to cancel the Player Account and take any wins if the verification is not sufficient because of inaccurate, deceptive, non-existent, fabricated, false, or unverifiable facts.
Players identified as High Risk undergo Enhanced Due Diligence, which entails a heightened degree of investigation and validation. Withdrawal funds must be deposited into the same bank account as the initial deposit. To complete the additional Know Your Customer requirements, the Company may ask for a driver's licence or valid passport, a selfie with the player holding the identification document, a utility bill or bank statement that has been issued within the last three months, and a bank statement that shows the initial deposit. It is also possible to ask for details about the wealth's origin.
In certain cases, Enhanced Due Diligence is used:
if the player's country of residence is a high-risk jurisdiction or if the onboarding geolocation check reveals that the player is a citizen of a high-risk country;
if it is believed that a player is trying to or has already established many Player Accounts using various identities;
in the event that it is believed that the Player(s) are involved in a conspiracy to get an unfair advantage over the Company;
because it is believed that the Player is a politically exposed person (PEP);
if any abnormal, questionable, improper, or deceitful behaviour is discovered;
at any moment as determined by the Company.
The Company may suspend the Player Account until further verification information is provided or cancel the account if it determines that the information provided is inaccurate or misleading, regardless of whether further efforts have been made to verify the Player's identity.
Compliance with anti-money laundering and counter-terrorism funding legislation is greatly aided by the MLRO. In order to prevent and identify illegal conduct, the MLRO is responsible for supervising the evaluation and monitoring of Know Your Customer (KYC) information and Player Account activities, keeping track of registered Account Holders, educating the appropriate personnel, and communicating with the appropriate authorities.
Furthermore, it is the responsibility of the MLRO to monitor compliance with the Company's KYC policy and to evaluate and revise it as necessary. Regarding issues of anti-money laundering and counter-terrorism funding, the MLRO serves as the primary point of contact for regulatory bodies, law enforcement, and other relevant authorities.
The MLRO collaborates closely with other KYC staff and may notify the proper authorities of any questionable or odd transactions or activity. When it comes to high-risk players or transactions, the MLRO could be engaged in implementing extra due diligence procedures.
In the event that they discover anything out of the ordinary, questionable, improper, or fraudulent behaviour associated with a Player Account, designated staff will investigate the matter. The team extensively investigates automatic alarms generated by security systems.
Player classification to High Risk and implementation of enhanced due diligence (EDD) processes will occur in the event of any discovered or attempted irregular, suspicious, improper, or fraudulent action.
On a regular basis, we check player accounts for a number of red flags, such as: providing false, misleading, or unverifiable KYC information; using fictitious names to hide the real beneficial owner; engaging in inappropriate or fraudulent activity; and/or placing odd bets or zero-risk strategies.
In addition, the following may cause a review to be initiated: complicated or substantial transactions that could be linked to terrorist funding or money laundering; players who are believed to have created numerous accounts using different identities; players who are believed to have conspired to obtain an unfair advantage over the Company; and any other behaviour that appears unusual, questionable, improper, or fraudulent.
Attempts to breach or bypass the system's security measures, using software programmes with artificial intelligence, and logging in from a reputable or high-risk country are all absolutely forbidden.
The following cases get special emphasis:
In the event that the Company discovers evidence of additional accounts, it will respond accordingly. Each individual, household, business, or other entity is limited to a single account per physical location, email, phone number, Internet Protocol (IP) address, or other shared resource. In the event that the Company becomes aware of any player's suspected multi-accounting or group collusion, it will temporarily suspend all associated accounts and initiate an enquiry.
Playing histories, IP location records, and computer sharing technologies will all be reviewed as part of the study. The Company retains the right to deduct any deposited monies and/or cash or bonus prizes in the event that it is discovered that an individual or group has established many accounts and is participating in a syndicate.
The Company will verify the player's identity and look for signs of numerous accounts or a fraudulent proxy when they seek a withdrawal. If it is determined that the player has more than one account, all of their accounts will be cancelled and they will not be allowed to create any new ones.
Should the Company become aware of any suspicious activity involving an Account Holder's funds, it will initiate an enquiry and may seek more details from the Account Holder. Until the necessary paperwork is sent in, the account will remain suspended. The Account Holder is notified that their account will be deleted if adequate information is not provided within 30 days. After that, the suspicious transaction would be reported to the proper authorities by the MLRO (Money Laundering Reporting Officer).
There are well-defined processes in place at the company for getting your money out. The Player must use their Player Account to request a withdrawal, and the Company will ask for Know Your Customer documents to confirm the Player's identification. The money will be sent directly to the player by the company; it will not be deposited to any other account.
If the Company suspects suspicious behaviour, such as money laundering or questionable play, it will investigate the Player Account before approving any withdrawals. An example of suspicious behaviour may include making a deposit but never betting any money, or establishing many Player Accounts using different identities. According to what's explained here, the Company has the right to withhold payments and ask for further paperwork, launch an investigation, suspend the Player Account, prevent access to the system or the account, or cancel the Player Account and notify the appropriate authorities.
For this platform to process bitcoin transactions, the first deposit must be made using cryptocurrency. From then on, you'll need to use the same cryptocurrency for everything. That includes deposits, bets, and payments. The business lacks the necessary authorisation to deal in cryptocurrencies or to convert it into or from fiat money. The corporation is obligated to gather and confirm the Player's age, address, and identity in order to adhere to the rules specified by the Master Licence Holder. From the moment a player signs up until they request a withdrawal, hardware KYC is gathered and maintained to guarantee that all transactions originate from or go to the same player.
The corporation must also provide appropriate proof of balance to the Master Licence Holder in order for the Player's payments to be deposited. Periodically, evidence of solvency covering all bets and prizes must be presented, and the cryptocurrency must be stored in a separate account. There can be no cryptocurrency to fiat currency trading on the website, and the homepage must show the current exchange rate. Also, the business has to let the players know that the value of cryptocurrencies might change a lot depending on the market.
By letting users pay using a method that is specifically designated for gaming and service usage, the platform demonstrates compliance with anti-money-laundering legislation. The only option for players to get their money out of their accounts is by withdrawing wins, and if they do so without playing, their cash will be frozen. Since it is not a bank, the business cannot provide customers interest on their savings. At its discretion, the firm may impose limits on payment methods in certain areas or to certain Players.
Account Holders will be notified via email when new payment ways are added to the platform. The website's Terms and Conditions and Manual will be updated for each new depositing method. Players will be notified that the value of cryptocurrencies might rise or fall depending on market conditions, and the firm will show the conversion rate between cryptocurrencies and fiat money on the homepage of the website. As a whole, the business follows all the rules and laws so that players may trust their bitcoin transactions.
To guarantee compliance with the Terms and Conditions and relevant laws, the Company has the right to evaluate the Account Holder's registration details, including their identity, age, and verification of compliance. When you register with our service, you're giving us permission to verify your identity and access to our services by asking the right questions and sharing certain information with other parties. In order to ensure the accuracy of certain information, such as age, identity, address, and payment details, as well as to obtain credit reports and compare them to public or private databases, the Company may use third-party agencies. The applicant or account holder agrees that the company or an authorised third party may use, record, and disseminate the information they supply.
Periodic evaluations may be conducted by the Company at its discretion for regulatory, security, or other business-related reasons. While the assessment is underway, the Customer may be unable to access some Services on the website or withdraw money from their account.
Regarding anti-money-laundering and anti-illegal-activity legislation, the Company is devoted to following all applicable rules and regulations. We shall notify the Financial Intelligence Unit (FIU) in Curaçao of any transaction that seems suspicious or does not have enough supporting documentation. In cases where the Company determined it was not required to notify the FIU, a record of such events shall be maintained by the Money Laundering Reporting Officer (MLRO). When this occurs, the MLRO will provide enough reasons to justify not reporting.
In order to ensure that its services are not used for any unlawful or criminal purpose, the Company shall implement all required safeguards. As part of this process, we check the identities of all Account Holders and keep an eye on all transactions. Additionally, the Company retains the authority to decline any transaction that it believes may be associated with unlawful activity such as money laundering. If the Company suspects that an Account Holder is abusing its services, the Account Holder must comply with the Company's reasonable demands for information and verification.
At least five years after the termination of a commercial partnership, the Company is obligated to store relevant records in an independent database as part of its record-keeping requirement. Authorities conducting investigations should be able to track specific transactions — including their amounts, currencies, and types — through the records. Verification, accuracy, and currency of the Company's records are essential.
In accordance with applicable laws and regulations, the Company is authorised to make copies of its records under certain conditions upon request. If this occurs, the Company may be required by law enforcement or regulatory bodies to divulge certain documents. All relevant data protection and privacy rules and regulations will be followed by the company while providing records.
The Company adopts stringent hiring standards to ensure its employees maintain the highest standards of honesty and reliability. A curriculum vitae, two references, and any applicable academic or professional certifications are the standard components of each job application. After receiving all of the necessary paperwork, the company's HR department reviews it to ensure accuracy before making a hiring choice.
