Last Updated: October 25, 2025
This AML & KYC Policy establishes the legal, ethical, and operational requirements for preventing money laundering, fraudulent activity, terrorist financing, and financial crime within the services offered by sib-bet.com. All users must comply with these rules to ensure a secure and transparent gaming and payment environment.
1. Compliance Commitment
sib-bet.com adheres to internationally recognized AML/CFT standards, including but not limited to:
- EU Directive 2015/849 – Prevention of Criminal Financial Activity
- EU Regulation 2015/847 – Funds Transfer Transparency
- Best Practices of Global Gaming and Financial Regulatory Frameworks
We cooperate with regulatory authorities, financial intelligence units, banks, and reputable payment service providers to detect and stop suspicious activities.
2. Definitions
Money Laundering includes any action intended to disguise the origin of funds derived from illegal activity, transfer such funds through intermediaries, or support criminal conduct through financial transactions. Any form of participation, assistance, facilitation, or attempt to engage in such activity is prohibited.
3. AML Management & Responsibility
The implementation and enforcement of this Policy are overseen by:
- Top-Level Management of sib-bet.com
- AML Compliance Officer (AMLCO), responsible for monitoring, reporting, and control procedures
All changes to this Policy require formal approval by senior compliance leadership.
4. Multi-Level Verification System (KYC)
KYC verification is mandatory to protect users and the platform against fraud and illegal funding. The levels are:
Step 1: Basic Identity Verification
- Full Name (exactly as printed on government-issued ID)
- Date of Birth
- Nationality
- Gender
- Residential Address
Without completing Step 1, withdrawals will not be processed.
Step 2: Enhanced ID Verification
Required when a user deposits or withdraws above 2,000 USD (or equivalent). This includes:
- Uploading a clear image of a government-issued ID
- A handwritten note with a randomly generated security code beside the ID
- Electronic validation through certified databases
- Submission of a government-issued proof of residence if needed
Step 3: Source of Funds Verification
Required when a user deposits or withdraws over 5,000 USD (or equivalent) or transfers over 3,000 USD to another user.
Accepted proof may include:
- Employment income documents
- Business ownership proof
- Bank statements
- Investment records
- Inheritance or family-backed funds
5. Risk-Based Country Classification
Countries are categorized into three compliance tiers:
- Low Risk: Standard verification applies
- Medium Risk: Reduced transaction limits before Step 2 and Step 3 activation
- High Risk: Accounts not permitted for regulatory compliance and fraud prevention
Risk categories are continuously monitored and updated.
6. Ongoing Transaction Monitoring
We maintain advanced monitoring systems to detect irregular activities such as:
- Rapid deposit and withdrawal without gameplay
- Use of unrelated third-party bank accounts
- Abnormal behavioral or access patterns
- Sudden changes in nationality or currency
- Account control inconsistent with user profile
Anomalies are reviewed by compliance specialists and may result in account suspension pending verification.
7. Suspicious Activity Reporting (SAR)
If suspicious transactions are identified, the AMLCO may:
- Submit reports to authorized financial intelligence agencies
- Freeze or permanently close customer accounts
- Cancel pending transactions
Legal authorities will be notified if required by applicable laws.
8. Record Retention
All KYC data and transactional records are stored for a minimum of 10 years after account closure, secured through encryption, with strictly limited access.
9. Data Protection & Confidentiality
sib-bet.com complies with global privacy standards to protect users’ identities and personal financial information. Data will never be sold or shared with third parties except when legally required under AML regulations.
10. Staff Training & Internal Audits
- Mandatory AML training for all relevant employees
- Annual review of AML and KYC framework
- Continuous system audits to enhance protection
11. User Responsibilities
By creating an account, users confirm:
- They are the lawful owner of deposited funds
- All submitted documentation is accurate and authentic
- They will not engage in illegal financial activity
Misuse of the platform will lead to suspension, reporting, and legal action.
12. Contact Us
If you have questions or require clarification about this Policy, please contact our compliance team:
- Email: [email protected]
- Support Page: Customer Support Center
Notice: Continued use of sib-bet.com signifies acceptance of this AML & KYC Policy. Regulatory compliance is mandatory to maintain secure and lawful services for all users.