Anti-Money Laundering (AML) Policy at Ultrawin

Policies for Anti Money Laundering (AML) have become a business strategy at Ultrawin. We understand that maintaining anti-money laundering procedures is important to the operations of our business. Our objective is: the enhancement of his corporate policy concerning ML – apprehension, prevention, and eradication of money laundering, fraud, and terrorism financing.

Main AML Activities in Ultrawin

Customer Identification and Verification

A stringent know your customer (KYC) procedure is followed to ensure that customers who come onto the sites are legit. Every new user needs to submit the following:

  • A Proof of identity (such as a passport or a driving license)
  • Address Verification (utility bills, bank statements)
  • Cells and Emails

This information is checked against third party database to verify the authenticity and existence of the customer.

Risk Assessment Method

A similar practice is employed by Ultrawin in regards to its customers. Enhanced Due Diligence (EDD) is administered to such users that are seen to be high risk (from certain jurisdictions with weak AML measures or customers with strange behavior). This helps in ensuring that all relevant details regarding such individuals are always available in case large transactions are to be settled.

Transaction Monitoring

The system incorporates price-volume analysis and determines the level of activity. We highlight abnormal activities, for instance

  • Taking out or putting in a very large amount of money suddenly
  • Making bets that are not normal for the gambler.
  • Moving money between many accounts quite often

If suspicious activity has been flagged and this activity is shown, we proceed to deeper investigation on that transaction.

Suspicious Activity Reporting (SAR)

In accordance with regulatory requirements, UltraWin is required by law to furnish suspicious activity reports to the relevant authorities. Our compliance department analyzes the transactions, raised liabilities and submits a SAR.

AML Training and Awareness

It is our position here at Ultrawin that every individual is accountable in the fight against money laundering. Each employee is given the basic knowledge of fighting money laundering to be able to understand how to recognize and report suspicious actions. Periodic refresher courses are conducted so that the employees will be of help to new regulatory changes and new ways that duct funds lawfully due to enhanced funds sophistication.

Record Keeping And Reporting

To enhance credibility to their services, Ultrawin has established policies of keeping records for all monetary and customer details as well as details on flagged transactions for a minimum retention period which is legally required. These records are well secured and are available for reviews or inspections by the appropriate regulatory authorities for purposes of compliance audits.

Collaboration with Regulatory Authorities

Ultrawin makes all efforts to cooperate with the law enforcement and financial regulation officials in the fight against laundering and other illegal financial activities. Every request for information is dealt with in a timely manner, and every effort is made to meet the highest level of compliance.

Customer Responsibilities

We advise our users to use the services at their own risk and do not engage in any illegal activity. It is the customers’ responsibility to register and conduct transactions by providing exact on information only. Making changes to documents, hiding the sources of funds, or engaging in any other misleading activities will lead to the closure of your account and a notification to the relevant agency.