🛡️ Compliance with AML Regulations at Bingo Betsy
At Bingo Betsy, we take the safety and security of our players very seriously. To ensure a safe and secure gaming environment, and in compliance with international regulations, we require all players to undergo identity verification. This process is essential for preventing fraud, money laundering, and other illicit activities that could affect our players and the integrity of the game.
Why Do We Need Identification?
As part of our commitment to responsible gaming and regulatory compliance, Bingo Betsy follows strict Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures. These are industry-standard practices designed to ensure the safety of your funds, protect you from fraud, and make sure that our platform is not used for illegal activities.
1. Combating Money Laundering
Money laundering is a serious global issue, and as an online gaming operator, Bingo Betsy is obligated to take all necessary steps to prevent illegal money flows through our platform. To achieve this, we need to verify the identity of all our players, ensuring that funds used for gambling are not linked to criminal activity.
2. Compliance with AML Regulations
We are fully compliant with the laws and regulations governing online gambling. This includes performing Customer Due Diligence (CDD) checks on all players, and Enhanced Due Diligence (EDD) for customers deemed high-risk. By following these regulations, we aim to create a safe and secure platform for all our players and reduce the potential risks of money laundering and other criminal activities.
What is KYC (Know Your Customer)?
KYC is a process that helps us verify the identity of our players. When you sign up to play at Bingo Betsy, we may ask for specific documents such as:
- A valid government-issued ID (passport, driver’s license, etc.)
- Proof of address (a utility bill or bank statement)
- Payment method verification (if applicable)
These documents help us confirm that you are who you say you are and ensure that all transactions are legitimate.
🔐 Credit Card Velocity Control Policy (Tiered Limits)
As part of our fraud prevention and AML compliance measures, and in accordance with the regulatory framework of our Anjouan gaming license, we have implemented tiered credit card velocity controls. These controls help mitigate transaction abuse, safeguard player funds, and meet the expectations of financial institutions and payment processors.
✅ 1. Tiered Transaction Frequency & Spending Limits
We enforce strict limits based on user account status and verification level:
🔹 Level 1 – Unverified / New Players
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Daily Limit: €250
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Weekly Limit: €750
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Monthly Limit: €1,000
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Transaction Frequency: Max 3 per day, 10 per week
These limits apply automatically to all newly registered users until identity verification is completed.
🔹 Level 2 – Verified Players
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Daily Limit: €500
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Weekly Limit: €1,500
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Monthly Limit: €5,000
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Transaction Frequency: Max 5 per day, 15 per week
Users who complete full KYC/AML verification are automatically upgraded to this level.
🔹 Level 3 – VIP Players (By Request & Approval)
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Daily Limit: €1,000
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Weekly Limit: €3,000
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Monthly Limit: €10,000
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Transaction Frequency: Max 7 per day, 20 per week
VIP limits are available upon request and are granted only after enhanced due diligence and a positive risk assessment.
✅ 2. Duplicate Transaction Prevention
Identical transactions (same card, account, and amount) attempted within 5 minutes are automatically blocked to prevent duplication errors or abuse.
✅ 3. Failed Transaction Cool-Off Period
After a failed or declined payment attempt, a minimum delay of 15 minutes is enforced before the same card can be used again.
✅ 4. IP and Geo-Based Monitoring
We monitor usage velocity from shared IP addresses or geographic clusters. Excessive usage from a single IP or region may trigger automatic review or blocking of further transactions.
✅ 5. 2-Factor Authentication (2FA)
All user accounts are protected by mandatory 2-Factor Authentication (2FA). This helps prevent unauthorized access even if login credentials are compromised.
✅ 6. Responsible Gaming Alignment
Velocity controls work in tandem with our player-set deposit limits and responsible gambling tools, providing additional protection and promoting safe gaming behavior.
✅ 7. Manual Review Triggers
All unusual transaction activity — including spending spikes or rapid frequency — is flagged for manual review by our compliance team. Transactions may be held pending further verification or investigation.
These layered controls reflect our commitment to secure, responsible, and transparent gaming operations in accordance with the standards expected by our payment partners and the Anjouan Financial Services Unit.
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
Customer Due Diligence (CDD) is the standard process we use to assess the risk of potential customers and ensure they are not involved in any illegal activities. CDD checks include verifying your identity and reviewing your account activity to detect any suspicious behavior.
For customers who may be considered higher risk (based on factors such as large transaction amounts, unusual activity patterns, or geographic location), we will conduct Enhanced Due Diligence (EDD). EDD involves a deeper investigation to ensure we fully understand the nature of the customer’s transactions and activities.
How Do These Measures Benefit You?
By ensuring strict identification protocols and compliance with AML regulations, we protect you, our players, from fraud and ensure that your winnings are legitimate. These measures also help maintain the integrity of the platform and promote a fair and transparent gaming experience for everyone.
Our Commitment to Data Privacy
Rest assured that any information you provide during the identity verification process is stored securely and is handled with the utmost care. We comply with all data protection regulations to safeguard your personal details.
Conclusion
At Bingo Betsy, we are committed to providing a safe and trustworthy environment for our players. Our identity verification procedures and compliance with AML regulations are designed to protect you and ensure the integrity of our platform. By following these essential processes, we help create a secure and enjoyable gaming experience for everyone.
If you have any questions or need assistance with the verification process, our customer support team is available to assist you.
Please send a Ticket to Customer Service via your account for assistance.
