Main
/
AML Policy

Anti-Money Laundering (AML) & CFT Policy: Integrity in Every Bet

Pin-Up Bet Nigeria and our Pin-Up website maintains a strict, zero-tolerance policy against money laundering (AML) and the financing of terrorism (CFT). Our platform is designed to be transparent, secure, and fully compliant with Nigerian and international financial regulations. We are committed to upholding the highest standards of integrity to protect our users and the financial system from criminal abuse.

Regulatory Compliance in Nigeria

Our AML/CFT policy is governed by and implemented in accordance with the Money Laundering (Prevention and Prohibition) Act, 2022, and strict guidelines issued by Nigerian regulatory bodies for Designated Non-Financial Institutions (DNFIs), including:

  • The Economic and Financial Crimes Commission (EFCC).
  • The Special Control Unit against Money Laundering (SCUML).
  • The National Lottery Regulatory Commission (NLRC).

Pillar 1: Customer Due Diligence (CDD) and KYC

Verifying the identity of every player is the indispensable foundation of our AML defense. This process is mandatory and non-negotiable.

Identity Verification (Know Your Customer – KYC)

All players must successfully pass our KYC checks, typically before their first financial transaction or large withdrawal. This includes:

  1. Identity Documents: Providing a clear, valid government-issued photo identification (e.g., National ID Card, International Passport).
  2. Proof of Residence: Supplying a recent utility bill or bank statement confirming the registered Nigerian address.
  3. Age Verification: Confirmation that the player is 18 years of age or older.

Enhanced Due Diligence (EDD): We reserve the right to request additional documentation, including confirmation of the source of wealth or source of funds, for high-value accounts or transactions deemed to carry a higher risk.

Source of Funds Policy

All deposits must be made from a payment account (bank account, card, or wallet) legally held and registered in the player’s own name. The use of third-party payment instruments (e.g., a friend’s card or a family member’s bank account) is strictly prohibited and will result in the immediate suspension of the account and seizure of related funds.

Pillar 2: Transaction and Continuous Monitoring

We employ advanced, automated systems to continuously monitor all financial transactions and betting activity for unusual or suspicious patterns.

Monitoring Triggers

Our compliance systems automatically flag and investigate activities that deviate significantly from a player’s established profile, including:

  • Large, sudden, or complex deposits and withdrawals without a clear purpose.
  • Any attempt to deposit funds and immediately withdraw them without corresponding and substantive gaming activity (an attempt at “wash trading”).
  • Frequent, unjustified changes to payment methods or bank accounts used for withdrawals.
  • Transactions involving regions or entities subject to national or international sanctions.

Suspicious Activity Reporting (SAR)

Any transaction or pattern identified as suspicious, or where the player fails to provide verifiable evidence of the source of funds, will be treated as a Suspicious Activity Report (SAR). This will be reported immediately to SCUML and/or the EFCC, without prior notification to the player, as required by Nigerian law.

Pillar 3: Operational Controls and Payments

Withdrawal Requirements

To ensure a verifiable audit trail and prevent money circulation:

  1. Same Source Rule: Withdrawals must, as far as possible, be processed back to the same payment method and source used for the original deposit, up to the amount deposited.
  2. Wagering Threshold: Withdrawals will not be authorized if the account has not met the minimum required wagering activity to ensure that the platform is not being used simply as a money transfer service.

Currency

All financial transactions, deposits, and withdrawals on Pin-Up Bet Nigeria are conducted exclusively using the Nigerian Naira (NGN).

Zero Tolerance for Counter-Financing of Terrorism (CFT)

Pin-Up Bet Nigeria strictly prohibits the use of its services for any activity related to financing terrorism. We proactively screen our user base and transaction records against national and international sanction lists and regulatory blacklists. Any funds or accounts linked to known terrorist activities or entities will be immediately frozen and reported to the relevant Nigerian authorities.

Our Compliance Oversight

Our internal AML Compliance Officer is responsible for:

  • Developing and maintaining the AML/CFT training program for all employees.
  • Overseeing the daily operation of all CDD and monitoring procedures.
  • Serving as the primary liaison and reporting authority for all reports to SCUML and the EFCC.

Reporting Suspicious Activity

If you have information regarding any activity on our platform that you suspect may be related to money laundering, fraud, or terrorism financing, please report it immediately and confidentially to Compliance Team.

By registering and using the services of Pin-Up Bet Nigeria, you confirm your acceptance of this AML/CFT Policy and provide consent for us to carry out all necessary verification checks as required by Nigerian law.