Ultrwin’s Anti-Money Laundering Policy
Ultrwin, as a multiplayer and networked gaming environment, resonates throughout the entire jurisdiction in which the players participate. It is a gambling activity with all participants engaging from different jurisdictions and we have taken the responsibility to undertake the strictest compliance measures. To this end, we created an Anti-Money Laundering (AML) policy.
We are a risk-based organization
It is an understatement to argue that the gaming industry is extremely lucrative which means that everyone interested in the gaming space will try to generate an income from it. Further, gaming and gambling platforms open a multitude of opportunities for criminals. We are aware of these risks, and as a company, our mission is to source gaming or gambling within a legal framework and through proper rules. This is why the first step is to have a sound AML policy.
Giving the chance to create a completely legal business
Majority gamers tend to forget that gambling maliciously also has its consequences. Games are not only rigged or created as a source of income. Instead, there is a universal problem in the industry: there are more players than games available for developers. We comply with the legal framework to ensure that even in such an environment we abide by the laws and do not turn into a monopoly.
Let’s start with the Fundamental Concepts of KYC Procedure
As part of our Client Due Diligence; Ultrwin engages itself in the Know Your Customer (KYC) process, which requires providing an identity of all users. We can ascertain that our customers are indeed who they say they are through the procurement and verification of their personal information. This is a step in the right direction as it enables us to mitigate fraud and ensure that our gamers do not engage in the laundering of money or financing of crimes.
What Are the KYC Documents Required: All Users need to submit valid forms of identification (e.g. state ID or Passport or Driver license), proof of where they live (e.g. a utility bill and a bank statement) and any other documents needed as per local laws.
How Does The Verification Process Work: All documents sent are verified to ensure that they are the same as those in the pictures submitted. Players will be informed when they are able to be verified and once their identity is confirmed.
Let’s touch on Transaction Monitoring Tools at Ultrwin
Ultrwin reserves the rights to any unusual transactions and employs every means to stop any suspicious/fraud activities from occurring. Every deposit/withdraw/bet made by a player is done through a system that analyzes that gamblers tracks for any transactions that would be a cause for concern in regard to laundering or any other financial crime.
Suspicious transactions: In order to make sure we prevent fraud, we will monitor transactions that stand out as quite large, reporting frequent small transactions, unusual withdrawal amounts or risk of repatriation transactions as high risk.”
Reporting of suspicious activities: Any behavior identified as suspicious will, however, be reported to the appropriate authorities as required in the compliance regulations. Assistance will be accorded to the bodies in the identification of illegal acts if any arise.
Employee Training and Awareness
The Methods involve training, occupation, and packaging that every Ultrwin staff, especially customer support, and sales and customers in finance departments in use to prevent money laundering. We train our staff on the AML frameworks so that they are in a position to identify anything illegal on the site.
Ongoing Training: We are offering money-laundering Prevention and detection trainings on a regular basis and also updating the employees on the changes in the legal framework with regard to the AMl laws.
Legal and Regulatory Obligations
Ultrwin has an Operating manual for all employees and adheres to the special financial oversight and banking website regulations in each of the operating areas. We work with information that follow national and cross-national regulations on money laundering and relevance of terrorism ilana.
International Standards: Ultrwin constructs its operations on the principles and guidelines put out by international bodies like FATF and local jurisdiction laws where we operate.
Suspension and Termination of Accounts: If a player is found to be laundering money, Ultrwin has the right to ban him or her from his or her account or from playing entirely at a whim. Putting underground economies to good report about the entire place will be disbursed and of course, any resources deemed illegal will be expelled from the economy.
Reporting Requirements
In the events of suspicious or fraudulent activityX Ultrwin will fully restrict themselves in participating even further in this misconduct. This may involve barring of accounts, snooping the funds, and notifying the incident towards appropriate authorities such as financial regulators or law agencies.
Funds Monitoring and Source of Funds
Particularly in the deposit documents that are known to be large deposits or irregular deposits, for which Ultrwin may require documentation giving account of the source of the necessary funds to be utilized. This may include the situation where the account activity is dubious or the funds deposited in the accounts are different and irrelevant than the ones previously provided, thus requesting players to provide further clarifications where necessary.
Source of Funds Declaration: Players may be contacted to give an explanation on how they have sourced their funds or they may be requested to provide supporting documents (for example: pay slips from employment, business income, and/or some documents showing inheritance) so that it can be demonstrated that the money used in gaming is not obtained through illegal activities.
Player Cooperation
Players are strongly advised to comply with our AML policy in such case. Lack of assistance or provision of the expected documentation, or attempts to go around our verification procedures may lead to restrictions being imposed on the account, the ability to withdraw funds, or termination of the account.
Policy Updates
Ultrwin reserves right to review this Anti Money Laundering Policy and make revisions at any time as deemed fit so as to avoid contravening the law, be it local or international. Users will be informed about the changes through our website or messages to their accounts.
Contact Us
For inquiries that are related to the verification of your account or Anti-Money Laundering, feel free to reach out to our customer support team at:
Email: support@ultrwincom.in
At Ultrwin, we do everything to make sure that the whole platform runs smoothly and that the players are not put at risk of illegal activities. Your safety, security and enjoyment come first with us.