AML Policy at Red Dog Casino
RedDogCasino is devoted to preventing money laundering by implementing an infrastructure with specialized controls and systems designed specifically to facilitate the use of our platform in fighting money laundering. In our work, we strictly observe the anti-money laundering procedures that have been established within the framework of our AML policy.
AML Policy Standards at Red Dog Casino
Casino AML policy is aimed at establishing compliance with the minimally required AML standards and as such includes the following:
- Appointing a proper money laundering reporting officer (MLRO) with sufficient knowledge and seniority in the field and appropriate accountability to manage and monitor compliance oversight through the use of legitimate and appropriately fitting rules, regulations, legislation, and industry guidelines.
- Instituting and managing the assessment of the risk of financing terrorism and laundering of money through the use of a specifically established risk-based approach.
- Implementing and managing the identification, legal review, and, if the occasion requires, the Know Your Clients procedure on any client that has been suspected of being risk-based. A casino may also apply extended legal review procedures on clients that have been representing a higher risk, like politically exposed persons.
- Instituting and managing customer activity monitoring procedures and risk-based systems.
- Instituting various procedures for reporting any relevant suspicious client activity both to the relevant law enforcement agencies and inside the company.
- Managing and maintaining any relevant and applicable records for the minimum necessary period of time.
- Implementing the proper awareness education on all relevant employees, assuring that all procedural requirements are met.
Countering Terrorism Financing
When faced with a potential AML risk, every casino featured in RedDog implements the Counter Financing of Terrorism (CFT) approach and procedure based on risk assessment.
In addition, a casino could have established specialized CFT internal controls, aimed to track and conduct any relevant procedures towards terrorism financing issues in a manner that overrules any other operating task, business, or strategy.
International Sanctions
RedDog Casino is prohibited from making transactions with any companies, individuals, and/or countries that are listed on the prescribed sanctions lists.
Additional AML Policy Actions
An AI overseen by the Officer who is reporting on the issues associated with the money laundering will examine any unusual behavior and immediately report it to the casino website personnel. Considering risk and general experience, the human staff will revise all checks that are earlier performed by the AI or other personnel and may redo or do additional reviews according to the circumstances.
The AML Policy is outlined after identifying and documenting the money laundering risks connected with the gambling services. In order to avoid these risks casinos check the clients to whom they offer services, transactions made by these clients, the channels of delivery the bank uses, and the geolocation of the operations performed by the bank. The AML risk categories are classified based on the knowledge of the regulatory requirements, expectations, and industry guidance.