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AML & KYC Policy

AML & KYC Policy: Building Trust, Ensuring Security

Pinup Bet Online operates with a paramount commitment to integrity and security. This unified Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines our stringent procedures to combat financial crime, including money laundering and the financing of terrorism (CFT). We at pinup-bet-online.ng website maintain a zero-tolerance approach to illicit activities.

Regulatory Mandate: As a licensed betting operator in Nigeria, we are designated as a Non-Financial Institution (DNFI) and adhere strictly to the Money Laundering (Prevention and Prohibition) Act, 2022. Our procedures are fully compliant with the oversight and reporting requirements of:

  • The Economic and Financial Crimes Commission (EFCC).
  • The Special Control Unit against Money Laundering (SCUML).
  • The National Lottery Regulatory Commission (NLRC).

Part 1: KYC – Customer Onboarding and Verification

Our KYC protocol is the crucial first layer of defense, ensuring that we know and verify the true identity of every player on our platform.

1. Initial Identity Capture

All players must provide accurate and verifiable data upon registration, including their full legal name, date of birth (must confirm 18+ eligibility), current Nigerian residential address, and active contact details.

2. Mandatory Document Verification

Before processing any withdrawal or high-value transaction, players must submit satisfactory documentation for verification:

  • Proof of Identity (POI): A clear copy of a valid government-issued photo ID (e.g., National ID Card, International Passport).
  • Proof of Address (POA): A recent utility bill or bank statement (not older than 3 months) that clearly displays the player’s name and registered address.
  • Payment Verification: Proof that the payment method used for deposits is legally registered in the player’s own, verified name.

Note: Failure to comply with KYC requests will result in immediate suspension of the account and prohibition of all financial transactions until verification is complete.

3. Prohibition of Third-Party Transactions

We strictly prohibit the use of any payment instrument (bank account, card, or e-wallet) that is not registered in the player’s verified name. Any such transaction will be flagged, reversed, and may lead to account termination.

Part 2: AML – Transaction Monitoring and Scrutiny

Our AML framework focuses on continuous, risk-based scrutiny of all financial and wagering activities to detect and prevent the criminal exploitation of the platform.

1. Continuous Transaction Monitoring

Our systems employ risk-based methodologies to analyze transactional behavior for any activity that deviates from established norms. Triggers for Enhanced Investigation (EDD) include:

  • Wash Trading: Depositing funds and immediately requesting withdrawal without engaging in proportionate or meaningful betting activity.
  • Unexplained Transactions: Sudden, large-volume deposits or accumulated winnings relative to the player’s established profile or known Source of Funds (SoF).
  • Payment Cycling: Rapid, unjustified switching between different payment methods for deposits and withdrawals.

2. Enhanced Due Diligence (EDD)

In cases of high-risk activity, large transactions, or whenever required by our AML Compliance Officer, we will implement EDD, which includes formally requesting documentation regarding the lawful Source of Funds (SoF) or Source of Wealth (SoW) from the player.

3. Counter-Financing of Terrorism (CFT)

We proactively screen our database and transactions against national and international sanction lists and regulatory blacklists to ensure the platform is not exploited for the purpose of financing terrorism or dealing with sanctioned entities.

Part 3: Enforcement and Reporting

1. Mandatory Suspicious Activity Reporting (SAR)

If any transaction or player behavior is deemed suspicious and cannot be satisfactorily explained through EDD, it will be escalated internally. Our designated AML Compliance Officer is legally mandated to file a Suspicious Activity Report (SAR) to the appropriate Nigerian authorities (SCUML/EFCC). This is done without prior notification to the player, as required by law to prevent tipping off.

2. Account Enforcement

Pinup Bet Online reserves the absolute right to:

  • Suspend or Terminate any account that violates this AML/KYC Policy or is linked to fraud or illegal activities.
  • Void Bets and Retain Funds that are directly or indirectly linked to illicit or unverified activities, pending investigation by Nigerian authorities.

3. Compliance Contact

For any confidential inquiries regarding these policies or to report suspicious activity, please contact dedicated AML Compliance Team.

By registering and using our services, you acknowledge and accept these AML and KYC policies and consent to all necessary security checks and reporting procedures mandated by Nigerian law.