CarvalhoBet Anti-Money Laundering (AML) Policy
Aries Processing Ltd Cyprus is fully committed to preventing money laundering, fraud, terrorism financing, and other financial crimes. As part of our dedication to regulatory compliance, CarvalhoBet adheres to EU Anti-Money Laundering (AML) Regulations and implements advanced security measures to protect both our users and the integrity of the platform.
AML Compliance & Security Measures
Strict adherence to EU Directives, Belgian AML Laws, and Sanctions Regulations.
Know Your Customer (KYC) procedures to verify user identities.
Use of AI-driven fraud detection systems to monitor and flag suspicious activities.
Continuous transaction monitoring to prevent illicit financial activities.
Account Verification Process
To ensure compliance with AML regulations and maintain a secure environment, all users must complete certain verification steps depending on their activity level.
Basic Verification (Required for all users)
Before users can withdraw funds or complete certain transactions, they must provide:
• Full name
• Date of birth
• Country of residence
• Complete residential address
• Nationality and gender
Intermediate Verification (Required for larger transactions)
This verification step is necessary for users who:
• Deposit or withdraw $2,000 or more
• AMLPolicy.verification_process.intermediate.requirements.1
This process includes submitting a high-resolution photo ID and completing a digital verification. If this step fails, users may be required to submit additional proof of residence.
Advanced Verification (Required for high-value transactions)
For users who:
• Deposit or withdraw $5,000 or more
Users will need to provide proof of Source of Wealth to verify the legitimacy of their funds.
Risk-Based User Classification
CarvalhoBet employs a risk-based approach to assess financial crime risks according to user location and transaction behavior:
• Low-Risk Regions: Standard verification process applies.
• Medium-Risk Regions: Lower transaction limits may trigger additional verification requirements.
• High-Risk Regions: Users from countries on restricted lists will not be allowed to register.
Ongoing Monitoring & Compliance
• All user transactions are continuously monitored for unusual or suspicious activity.
• Our AI-powered fraud detection system analyzes user behavior to detect irregularities.
• If fraudulent activity or money laundering is suspected, appropriate authorities will be notified promptly.
Reporting Suspicious Activity
CarvalhoBet's AML team actively reviews user transactions and reports any suspicious activity to the Financial Intelligence Unit (FIU) as required by law. If illegal activity is identified, user accounts may be suspended or terminated in accordance with legal obligations.
Data Security & Record Keeping
In compliance with AML regulations, CarvalhoBet ensures the following:
• Identification data is securely stored for a minimum of ten years after account closure.
• Transaction records are securely stored for legal auditing and compliance purposes.
• All personal data is treated confidentially and protected in accordance with data privacy laws.
