Famebet

Anti-Money Laundering & Anti-Terrorist Financing Policy Statement

1. Company Overview

Better Fame N.V. (“FameBet” or the “Company”) is incorporated under the laws of Anjouan and operates the online gaming platform at www.famebet.com. Established to provide a secure and enjoyable gaming experience, FameBet serves users in multiple jurisdictions globally, adhering to regulatory frameworks and best practices.

2. Company Policy Statement

FameBet is committed to preventing and detecting any form of illicit activity on its platform. While not classified as a financial institution under applicable law, we comply with the Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) regulations of Anjouan, as stipulated by the Anjouan Gaming Control Board. We reject the use of our services for any illegal activities, including money laundering and terrorist financing, and actively implement measures to ensure compliance with international standards.

3. Definitions

  • Money Laundering: The process of concealing the origins of illegally obtained money, typically involving three stages:
    • Placement: Introducing illicit funds into the financial system.
    • Layering: Obscuring the origins through complex transactions.
    • Integration: Restoring the laundered money to the economy, making it appear legitimate.
  • Suspicious Activity: Any activity that raises suspicion of fraudulent or illegal purposes, requiring further investigation.
  • Sanctions: Measures imposed by governments or international bodies to limit the activities of specific entities or individuals, often aimed at promoting compliance with international law.

4. Governance and Oversight

FameBet has designated a Chief Compliance Officer (CCO) to oversee the implementation of the AML and ATF policies. The CCO is responsible for developing and enforcing compliance initiatives, conducting staff training, and investigating potentially suspicious activities. Regular independent reviews will assess the effectiveness of these measures.

5. Know Your Customer (KYC) and Transaction Monitoring

FameBet employs a robust KYC process to identify and verify users, tailored to the risks associated with our services.

A. Customer Due Diligence (CDD)

FameBet conducts thorough due diligence, which includes:

  • Identity Verification: Collecting essential documentation such as wallet addresses, personal information, and age verification through reputable third-party providers. We ensure users do not appear on any sanctions lists.
  • Risk Assessment: Establishing a risk profile for each user based on transaction patterns, geographic location, and the nature of their activities.
  • Geo-Blocking: Implementing restrictions to prevent users from accessing our services from jurisdictions where gambling activities are prohibited.

B. Enhanced Due Diligence

For higher-risk accounts, FameBet performs enhanced due diligence, including:

  • Collecting additional information, such as source of funds, occupation, and transaction history.
  • Increased scrutiny of transactions, with a focus on identifying any irregularities or suspicious patterns.

C. Acceptance Policy

FameBet maintains a strict acceptance policy, which prohibits users who:

  • Fail to provide required identification or provide fraudulent documents.
  • Attempt to conceal their location through deceptive means.
  • Reside in jurisdictions subject to sanctions or restrictions.
  • Show indications of gambling addiction or related mental health issues.

6. Transaction Monitoring

FameBet employs a sophisticated transaction monitoring system to detect unusual or suspicious activities:

  • Real-Time Monitoring: Continuous assessment of transactions to identify patterns indicative of money laundering or terrorist financing.
  • Red Flag Indicators: Monitoring for behaviors that may raise suspicion, leading to further investigation and potential account suspension.
  • Screening for Sanctions: Transactions are screened against global sanctions databases to ensure compliance.
  • Chainalysis Review: All cryptocurrency deposits and withdrawals are analyzed for signs of fraud or suspicious activity. High-risk accounts undergo additional scrutiny.
  • User Behavior Analysis: Monitoring user activity for deviations from typical behavior, focusing on changes in transaction volume, frequency, or patterns.

7. Reporting Obligations

FameBet is committed to reporting any suspicious transactions to the relevant authorities as mandated by the National Ordinance. Reports include information regarding users linked to money laundering or terrorist financing.

8. Education and Training

FameBet ensures that all employees receive comprehensive training on AML and ATF compliance. Training programs are regularly updated to reflect current regulations and best practices, reinforcing our commitment to a secure and compliant gaming environment.

9. Compliance Innovation

To adapt to the evolving regulatory landscape, FameBet will continuously review and enhance its compliance practices. This includes evaluating new technologies and methodologies to strengthen our AML and ATF initiatives.

10. Collaboration with Regulatory Bodies

FameBet will maintain an open line of communication with relevant regulatory authorities, ensuring compliance with current laws and regulations. This collaborative approach aids in identifying best practices and staying ahead of emerging risks in the gaming and cryptocurrency sectors.