Last updated: January 2025
ChampeBet is committed to preventing money laundering, terrorist financing, and other financial crimes. This Anti-Money Laundering (AML) Policy outlines our procedures to comply with the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), the Gambling Control Act, and directives from the Financial Reporting Centre (FRC).
As a licensed gambling operator in Kenya, ChampeBet is a 'reporting institution' under POCAMLA. We are required to conduct customer due diligence (CDD), monitor transactions, maintain records, and report suspicious transactions to the FRC. We also comply with the Gambling Control Act's AML provisions and any guidelines issued by the Betting Control and Licensing Board (BCLB).
Before activating an account, we verify your identity using reliable, independent source documents. This includes your national ID, full name, date of birth, phone number, and M-Pesa number. For higher-value transactions or when risk indicators are present, we may request additional documentation such as proof of address or source of funds.
We apply enhanced due diligence for higher-risk customers, including politically exposed persons (PEPs), customers from high-risk jurisdictions, and transactions above certain thresholds. EDD measures may include obtaining additional identification, verifying source of wealth, and conducting more frequent monitoring.
We use automated systems to monitor transactions in real time for suspicious patterns, such as unusual deposit or withdrawal amounts, rapid movement of funds, multiple accounts from the same IP address, and transactions that don't match a customer's profile. All alerts are reviewed by our compliance team.
If we suspect that a transaction is linked to money laundering or terrorist financing, we are legally required to report it to the FRC. We do not notify the customer that a report has been made, as this could compromise the investigation. We cooperate fully with law enforcement and regulatory authorities.
We maintain records of all customer identification documents, transaction data, and AML reports for at least five years after the account is closed or the transaction is completed, as required by POCAMLA and the Gambling Control Act.
All ChampeBet employees receive regular AML/CTF training to recognize suspicious activity and understand their reporting obligations. Our compliance team receives advanced training on regulatory developments and emerging money laundering typologies.
ChampeBet does not permit: the use of anonymous accounts, the use of virtual assets (cryptocurrency) for gambling transactions, third-party funding of accounts, or any attempt to structure transactions to avoid reporting thresholds. Accounts found in violation will be suspended and reported.
For AML-related inquiries, contact our Compliance Officer at info@champebet.com or +254 102 733 755.