AML Policy

Base Online N.V. is committed to preventing money laundering, terrorism financing, fraud, and other financial crimes. By registering for an account, you agree to comply with our General Terms & Conditions, Privacy Policy, and AML Policy.

At BaseBet, AML compliance is a top priority. We implement rigorous processes and update our systems to detect and prevent financial crimes. Our three-step account verification procedure ensures the highest level of security for our users, with considerations for country-specific risks.

We adhere to strict anti-money laundering (AML) standards in compliance with EU guidelines. Our management and employees must enforce these standards, ensuring that our services are not misused for money laundering or other illicit activities.

Definition of Money Laundering

Money laundering is defined as:

  • Conversion or transfer of property, particularly money, with the knowledge that it is derived from criminal activity or participation in such activities. This is done to conceal or disguise the illegal origins of the property or to assist any person involved in such activities in evading the legal consequences of their actions.

  • The concealment or disguise of the true nature, source, location, disposition, movement, rights, or ownership of property, knowing that it has been derived from criminal activity or participation in such activity.

  • The acquisition, possession, or use of property with the knowledge, at the time of receipt, that it was obtained from criminal activity or by assisting in such activity.

  • Participation in, association with, or attempts to commit, aid, abet, facilitate, or counsel the commission of any actions listed above.

Money laundering is considered an offense even if the activities that generated the laundered property occurred in another Member State or a third country.

BaseBet AML Program

The BaseBet AML Program is designed to comply with the following regulations:

  • EU Directive 2015/849 of the European Parliament and the Council of 20 May 2015 on preventing the use of the financial system for money laundering purposes.

  • EU Regulation 2015/847 on information accompanying transfers of funds.

  • EU Sanctions Regulations that impose restrictive measures on specific individuals and embargoes on goods and technology, including dual-use goods.

  • Belgian Law of 18 September 2017 on preventing money laundering and limiting the use of cash.

The responsibility for ensuring compliance with this AML Policy and Program rests with the General Management of Base Online N.V., which emphasizes the importance of strict adherence to AML requirements. General Management appoints an Anti-Money Laundering Compliance Officer (AMLCO) to oversee and enforce the AML policy and procedures.

Base Online N.V. General Management and the AMLCO must approve any significant changes to the BaseBet AML Policy.

Account Verification

Basic Verification:

Basic Verification is a mandatory Know Your Customer (KYC) procedure that all users must complete before making any withdrawals or transactions to another user. This process applies regardless of payment method, withdrawal amount, or user nationality. The following information is required for Basic Verification:

  • First name

  • Last name

  • Date of birth

  • Country of residence

  • Gender

  • Complete address

Intermediate Verification:

Users who deposit, withdraw, or transfer cryptocurrency equal to $2,000 or more (or transfers equal to $1,000 or more between users) must complete Intermediate Verification. Until this procedure is completed, the withdrawal, deposit, or transfer will be paused.

Intermediate Verification requires users to upload a high-resolution photo ID showing their face and identification number. If the information provided during Basic Verification is accurate, a digital verification will be performed using two databases to confirm that the data and documents match. If digital verification fails or cannot be performed, users must provide proof of residence, such as a government-issued registration certificate or similar document.

BaseBet reserves the right to require any user to complete identity verification at its sole discretion for any reason.

Advance Verification:

Advanced verification is required for users who deposit or withdraw cryptocurrency equal to $5,000 or more or transfer cryptocurrency to another user equal to $3,000 or more. In such cases, users must also provide proof of their source of wealth. Until this verification is complete, the withdrawal, deposit, or transfer will be paused.

BaseBet reserves the right to request source of wealth verification from any user at any time and for any reason.

Identification Verification (KYC)

Formal customer identification is a crucial aspect of our KYC (Know Your Customer) policy and is essential for complying with anti-money laundering regulations. To complete identification verification, the following steps are required:

  • A copy of your passport, ID card, or driving license, with the identification number visible.

  • A second photo showing your face.

You may blur any personal information on the identification document except for the following:

  • Date of birth

  • Nationality

  • Gender

  • First and second name

  • Photo

Ensure that all four ID corners are visible and all required details are readable. A BaseBet employee may conduct additional checks to verify the information if necessary.

Proof of Address

Proof of address is typically verified through digital verification. If the digital process fails, you will be asked to provide manual proof of address. Acceptable documents include a recent utility bill (issued within the last three months) sent to your registered address or an official government document confirming your residence.

To expedite the approval process, please ensure the document is a high-resolution photo with all four corners visible and all text readable. Acceptable examples include:

  • Electricity bill

  • Water bill

  • Bank statement

  • Any official government correspondence addressed to you

A BaseBet employee may perform additional checks to verify your proof of address.

Source of Wealth

If a player deposits cryptocurrency equal to $5,000 or more, a Source of Wealth (SOW) verification must be conducted. The SOW can be established through the following means:

  • Ownership of a business

  • Employment

  • Inheritance

  • Investments

  • Family wealth

The wealth's origin and legitimacy must be clearly understood. If further clarification is required, a BaseBet employee may request additional documentation or proof.

If a user deposits this amount in a single transaction or through multiple smaller transactions, their account will be frozen until verification is completed. An email will be manually sent to the user requesting a bank wire or credit card statement to confirm their identity. Additional information about the user’s financial situation may also be required.

Basic Document

A basic document is generated and accessible on the user’s profile page at BaseBet.io. To obtain this, users must provide the following information:

  • First name

  • Last name

  • Nationality

  • Gender

  • Date of Birth

An AI system will create and save this document. If necessary, a BaseBet employee may perform additional checks.

Geographical Risk Management

Certain countries pose a higher risk for money laundering and terrorism financing than others. BaseBet uses a variety of credible sources to assess these risks, categorizing users based on their citizenship, country of residence, or country of business.

BaseBet uses the following regional classifications:

  • Region One: Low Risk

  • As outlined earlier, users from low-risk nations undergo the standard three-step verification process.

  • Region Two: Medium Risk

  • For users from medium-risk nations, the three-step verification process is triggered at lower deposit, withdrawal, and tip amounts:

    • Intermediate Verification for transactions of $1,000 or more

    • Advance Verification for transactions of $2,500 or more

  • Region Three: High Risk

  • Users from high-risk regions are banned. The list of high-risk regions is regularly reviewed and updated.

Additional Measures:

An AI system, overseen by the AML Compliance Officer, monitors and reports unusual behavior. A Data Scientist also uses advanced tools to detect suspicious activity, such as:

  • Depositing and withdrawing without significant betting activity.

  • Using different bank accounts or exhibiting changes in nationality, currency, or behavior.

Users must use the same method for both deposits and withdrawals.

Enterprise-Wide Risk Assessment (EWRA)

BaseBet has conducted an Enterprise-Wide Risk Assessment (EWRA) to identify and understand AML risks specific to its services, users, transactions, delivery channels, and geographic operations. The EWRA is reassessed annually, with measures taken to address emerging risks and ensure compliance with regulatory expectations.

Ongoing Transaction Monitoring

Ongoing transaction monitoring ensures that all transactions are compared against the customer profile to detect unusual or suspicious activity. This monitoring occurs at three levels:

First Line of Control:

BaseBet works with trusted payment service providers and has robust AML policies to prevent suspicious deposits. KYC procedures are rigorously applied to all potential customers.

Second Line of Control:

BaseBet maintains a system to perform Customer Due Diligence (CDD) as needed. This includes verifying financial transactions, payment requests, and other account activities.

All transactions are subject to scrutiny, and unusual transactions are flagged and reviewed by employees supervised by the AML Compliance Officer.

Third Line of Control:

As a final measure, manual checks are performed on suspicious or high-risk users. If fraud or money laundering is detected, the relevant authorities will be informed.

Reporting of Suspicious Transactions

According to internal procedures, BaseBet staff members are trained to report suspicious transactions. The AML team analyzes these reports, and depending on the results:

  • A report may be sent to the Financial Intelligence Unit (FIU) in compliance with the Law of 18 September 2017.

  • Business relationships with the customer may be terminated if necessary.

Record Keeping

Identification data must be kept for at least ten years after the business relationship ends. Transaction data must also be stored for ten years following the completion of a transaction or the termination of the business relationship. These records will be encrypted and securely stored both online and offline.

Audit

Internal audits are regularly conducted to review and report on AML activities and compliance.

Data Security

All user data will be handled with strict confidentiality and will not be sold or disclosed to third parties except when required by law or to prevent money laundering. BaseBet follows all relevant data protection guidelines and regulations.

Contact Us

If you have any questions, complaints, or concerns about the

AML/KYC Policy

or account checks, please contact us.

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