Customer identification and verification (KYC)

22/05/2024

The formal identification of customers on entry into commercial relations is a vital element, both for the regulations relating to money laundering and for the KYC policy.

This identification relies on the following fundamental principles:

A copy of your passport, ID card, or driving license, each shown alongside a handwritten note displaying six, randomly generated numbers. Also, a second picture with the face of the user/customer is required. The user/customer may blur out information to secure their privacy, besides the date of birth, nationality, gender, first name, second name, and picture.

Please note that all four corners of the ID must be visible in the same image and all details must be clearly readable besides the information mentioned above. We might ask for all details if necessary.

An employee may do additional checks if necessary, based on the situation.

Proof of Address:

• Proof of address may be carried out via different electronic checks using two different databases. If an electronic test fails, the user/customer has the option to provide proof manually.
• A recent utility bill was sent to your registered address, issued within the last three months, or an official document from the government that proves your state of residence. To make the approval process as speedy as possible, please make sure the document is sent with a clear resolution where all four corners of the document are visible, and all text is readable. For example, an electricity bill, water bill, bank statement, or any governmental correspondence addressed to you.
•  An employee may do additional checks if necessary, based on the situation.

Source of funds:

If a player deposits over five thousand euros, there is a process in place to understand the source of wealth (SOW).

Examples of SOW are:

• Ownership of a business
• Employment
• Inheritance
• Investment
• Family

It is critical that the origin and legitimacy of that wealth are clearly understood. If this is not possible an employee may ask for an additional document or proof.

The account may be frozen if the same user deposits either this amount in one go or multiple transactions which amount to this. An email will be sent to them manually to go through the above, and the information on the website itself.

betvivo.com also asks for a bank wire/credit card to further insure the Identity of the user/customer. It also gives additional information about the financial situation of the user/customer.

The basic document for step one:

The basic document will be accessible via the setting page on betvivo.com. Every user may be required to fill out the following information:

●     First name

●     Second name

●     Nationality

●     Gender

●     Date of Birth

 The document will be saved and checked by an AI, and an employee may do additional checks if necessary based on the situation.

Sanctions, Persons, and Entities of Special Interest as well as PEPS

The www.opensanctions.org database is used for screenings of open sanctions. The website is a global database of persons and companies of political, criminal, or economic interest. It combines the most important sanctions lists, databases of politically exposed persons, and other public information into a single easy-to-access dataset. It Cross-checks leaks and public databases for possible conflicts of interest and signs of illicit activity, it tracks political conflicts, compares worldwide sanctions policies, and checks potential customers and partners in international dealings. The project includes sanctions lists, lists of politicians, ban lists used in government procurement, lists of known terrorists, and other data sources relevant to journalistic research and due diligence.

In order to facilitate the use of this database betomets.com has created a script that incorporates the OpenSanctions search engine on the website. The user will sign up and may be required to add his/her name, address, and email address. Before they move on to the next stage of checks, a script extracts their name and scans this through the database to ensure that they are not a listed person. If the results come back negative, the customer may not be able to enter the site and we may inform authorities.

betvivo.com may also have a subscription to namescan.io