1. Introduction
Casumo Casino, operated via www.kauricoast.com, is committed to maintaining the highest standards of integrity and compliance with applicable anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations.
This AML Policy outlines our internal systems, controls, and procedures to detect and prevent the misuse of our platform for money laundering, terrorist financing, or other criminal activities.
2. Legal Framework
Casumo Casino complies with:
- The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (New Zealand)
- Any applicable international AML/CTF standards, including FATF recommendations
- Regulatory guidance issued by relevant authorities in jurisdictions where we operate
3. Objectives
The objectives of this AML Policy are to:
- Prevent Casumo Casino from being used for money laundering or terrorist financing
- Establish a robust Know Your Customer (KYC) and Customer Due Diligence (CDD) process
- Detect and report suspicious activities to relevant authorities
- Ensure all employees are aware of their responsibilities in combating financial crime
- Maintain secure and transparent record-keeping
4. Customer Due Diligence (CDD)
a. Verification of Identity
Before a customer can deposit, wager, or withdraw funds, we require the verification of:
- Full legal name
- Date of birth (to confirm legal gambling age)
- Residential address
- Valid government-issued photo ID (e.g., passport, driver’s license)
- Proof of address (e.g., utility bill or bank statement no older than 3 months)
b. Ongoing Monitoring
We continuously monitor customer behavior, including:
- Deposit and withdrawal patterns
- High-value or frequent transactions
- Unusual gameplay behavior
- Use of multiple accounts or payment methods
Additional verification may be required when thresholds are reached or behavior changes.
5. Enhanced Due Diligence (EDD)
Enhanced due diligence is applied to higher-risk categories, including:
- Politically Exposed Persons (PEPs)
- Customers from high-risk jurisdictions
- Transactions exceeding regulatory thresholds
- Players engaging in unusually complex or large transactions
EDD measures may include:
- Additional ID verification
- Source of funds or wealth declarations
- Ongoing monitoring of the player account
- Approval from senior management before continuing the relationship
6. Reporting Suspicious Transactions
Casumo Casino has internal systems to detect and flag suspicious activity.
a. Suspicious Transaction Reporting (STR)
If any transaction or behavior raises concern, we may:
- File a Suspicious Transaction Report (STR) with the New Zealand Financial Intelligence Unit (FIU)
- Freeze or restrict access to player accounts
- Terminate the player relationship where necessary
All reporting is handled confidentially and in accordance with the law.
7. Record Keeping
We retain AML-relevant records for a minimum of 5 years after the end of the customer relationship, including:
- KYC documents
- Transaction records
- Communications regarding suspicious activities
- Internal reports and decisions
8. Training and Awareness
All employees and contractors at Casumo Casino undergo regular AML/CTF training, including:
- How to recognize suspicious behavior
- KYC and CDD obligations
- Reporting procedures
- Consequences of non-compliance
9. Risk Assessment and Internal Controls
We conduct periodic risk assessments to:
- Identify vulnerabilities in our services and systems
- Adapt our controls to new risks, technologies, and regulations
- Ensure effective implementation of AML policies across departments
Internal audits and independent reviews may be conducted to test the strength of our AML framework.
10. Cooperation with Authorities
Casumo Casino cooperates fully with law enforcement, regulators, and other government bodies involved in AML investigations. We comply promptly with any lawful requests for information and ensure transparency in our operations.
11. Policy Review
This AML Policy is reviewed at least annually and updated as necessary to reflect changes in:
- Applicable laws and regulations
- Business operations and risk profile
- Industry best practices
12. Contact Information
For any questions or concerns related to this AML Policy or to report suspicious activity, please contact our compliance team:
📧 Email: [email protected]
🏢 Address: 101 Don Street, Invercargill 9810, New Zealand
🌐 Website: www.kauricoast.com
