Anti-Money Laundering Policy – Memo Casino UK
Memo Casino supports legal gambling and tracks all suspicious activity to fight with criminal activity on the platform. Therefore, the company applies an anti-money laundering policy to fight with financial fraud and prevent the cases, when players take advantage of the casino. For these purposes, Memo Casino implements strong security measures and uses modern algorithms, which help the company to track any attempts of money-laundering and address necessary law authorities. Read the article below and explore more about the casino’s AML policy.
Combating Money Laundering in Transactions
For many criminals, the gambling platform appears to be a perfect tool to launder their finances. Therefore, Memo Casino’s security service notices suspicious transactions and starts reviewing them diligently to find possible signs of money-laundering. Here are the actions that the company takes to prevent fraud via online transactions:
- Tracking strange bets and payment requests;
- Applying KYC (know-your-customer) policy to verify players and their transactions;
- Daily, weekly, and monthly limitations of withdrawals;
- Saving the history of your transactions;
- Marking suspicious accounts as potentially dangerous and applying long-term monitoring to them;
- Banning accounts which participate in financial crimes forever.
Security and Monitoring
To maintain a high security level, the company has implemented several helpful tools. All players have to complete the verification process by providing the casino with identification documents. The verification level depends on your actions and the more suspicious they are, the more thorough inspection will be. You can be asked to present your ID, connect with the security team live and even prove your source of wealth.
All employees of the casino are trained well, and they know how to notice money laundering. In addition to that, the company records all phone calls and acts immediately when the account is suspected of financial crime.
Responsibility
The players who are somehow involved in money laundering will bear responsibility for their actions. Memo Casino applies strict measures to such players and makes everything possible to prosecute them. In case the user launders the funds on the platform, the company can:
- Report to the legal authorities or AML institutions;
- Permanently ban his account;
- Address to other platforms and warn them, to block any access to online gambling platforms;
- Confiscate all funds on his balance, including winnings.
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