AML & KYC Policy
Ensuring safe, secure, and transparent gaming for Bangladeshi players through robust Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.
Understanding AML in Online Gaming
AML stands for Anti-Money Laundering, a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. In the context of online gaming, AML measures ensure that casinos are not used for money laundering, fraud, or terrorist financing.
Licensed platforms offering Monopoly Live must follow international AML standards to monitor transactions, verify player identities, and report suspicious activity to relevant authorities.
Understanding KYC
KYC stands for Know Your Customer. This is the process of verifying a player’s identity before allowing them to deposit, play, or withdraw. KYC ensures that only legitimate players use the platform, protecting both the casino and the player.
- Prevents underage gambling.
- Blocks fraudulent accounts.
- Ensures compliance with local and international laws.
Why AML & KYC Are Important for Bangladeshi Players
Bangladesh does not have a local licensing framework for online casinos, meaning players rely on international platforms. AML and KYC policies from licensed operators add a critical layer of protection. They safeguard your deposits, ensure fair play, and maintain the integrity of the gaming ecosystem.
How AML Works in Monopoly Live
For Monopoly Live Bangladesh, AML measures include:
- Customer Due Diligence (CDD): Basic checks to confirm identity and legitimacy.
- Enhanced Due Diligence (EDD): Additional verification for large transactions or high-risk profiles.
- Transaction Monitoring: Continuous tracking of deposits, bets, and withdrawals.
- Suspicious Activity Reporting (SAR): Filing reports with regulators if questionable activity is detected.
How KYC Verification Works
Completing KYC is usually required before your first withdrawal. The process generally involves submitting documents and information such as:
- Proof of Identity: Passport, national ID, or driver’s license.
- Proof of Address: Recent utility bill, bank statement, or government letter.
- Payment Method Verification: Screenshot or statement showing ownership of your deposit method (bKash, Nagad, Rocket, card, etc.).
Typical KYC Process for Bangladeshi Players
| Step | What Happens | Player Action |
|---|---|---|
| 1. Registration | Create an account with accurate personal details. | Use your real name and date of birth. |
| 2. Document Upload | Platform requests proof of identity and address. | Scan or photograph documents clearly and completely. |
| 3. Payment Verification | Confirm that your deposit method belongs to you. | Provide transaction screenshots or statements. |
| 4. Review | Compliance team checks the documents. | Wait for confirmation, usually within 24–72 hours. |
Player Responsibilities Under AML & KYC
- Provide truthful and accurate information.
- Ensure documents are valid, legible, and match account details.
- Use payment methods in your own name.
- Respond promptly to any additional verification requests.
What Happens If You Fail KYC Verification
If your documents are unclear, expired, or inconsistent with your account details, the platform may reject your KYC submission. This can delay withdrawals or even freeze your account until the issue is resolved.
Data Protection and Privacy
Licensed Monopoly Live platforms use encryption and secure servers to protect your personal data during the AML and KYC process. Many operators also comply with GDPR or similar privacy frameworks.
Risks of Playing Without AML & KYC
- Greater risk of fraud or identity theft.
- Difficulty recovering funds in disputes.
- No assurance of fair play or responsible gaming tools.
Responsible Gaming Connection
AML and KYC checks help enforce responsible gaming by verifying player age, tracking spending patterns, and providing self-exclusion options when needed.