Anti-Money Laundering and Counter-Terrorism Financing Procedure
Batery adheres to stringent international and national anti-money laundering (AML) and anti-terrorist financing (CTF) regulations. This AML policy shows the commitment of the casino to operate legally and transparently according to international standards of compliance. For users from India, it is important to understand how the funds and security protection at the gaming site or Batery Bet app are handled at the Batery.
Content
AML and CTF Definitions at the Core of Policy
The Batery follows an AML and CTF system. Concealment of illicit funds means hiding money that was earned illegally. It includes making this money look legal by covering up where it really came from. Terrorist financing means using money to support terrorism, no matter where the money comes from. The company combines both ideas into one procedure. This helps to find and report suspicious activity quickly.
National and International Legal Framework
Batery’s AML procedures are based on Curaçao’s financial legislation. This includes regulations relating to customer identification, transaction monitoring, and reporting of unusual activity. The company also follows the standards of international organizations such as the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF).
Through these partnerships, the casino contributes to the reduction of financial crime around the world. Players from India can be assured that procedures comply with recognized international AML protocols.
Risk-Based Customer Classification
To manage potential risks, Batery conducts regular client assessments. Players are classified according to their behavior and activity. Each new client is initially categorized as “Low Risk” and undergoes a standard KYC (know your customer) process. However, if suspicious activity such as transaction discrepancies or abnormal gaming activity is detected, the client may be moved to the “High Risk” category.
High-risk customers undergo Enhanced Due Diligence (EDD), which includes more stringent verification and document collection measures.
Politically Exposed Persons and Country Risk
Batery pays particular attention to identifying Politically Exposed Persons (PEPs), which are individuals who hold high government positions, such as heads of state or high-ranking military officers. Because such individuals may be at risk of bribery and corruption, they are subject to more rigorous screening.
To do this, Batery uses global indices such as Transparency International’s Corruption Perceptions Index and FATF country assessments to identify high-risk jurisdictions.
Customer Due Diligence Measures
The company implements strict verification procedures at different stages of the client’s interaction with the casino. CDD (Customer Due Diligence) procedures are applied at registration when requesting a withdrawal, and when monthly transaction limits are exceeded.
For high-risk customers, EDD may include:
- Selfies with ID;
- Utility bills or bank statements;
- Proof of source of income;
- Evidence of the legality of the payment method.
Reporting Suspicious Transactions
The Batery requires the Money Laundering Compliance Officer (MLCO) to report all suspicious money transactions to the Financial Intelligence Unit (FIU) of Curaçao. This applies to both confirmed and suspected disguising of illegal income or terrorist financing activities.
Two types of indicators are distinguished:
- Objective (e.g., transactions above a certain threshold);
- Subjective (e.g, behavior that does not match the player profile).
All reports must be submitted promptly, usually within 48 hours, through the GoAML portal.
