This Anti-Money Laundering (AML) and Know Your Customer (KYC) policy applies to all users of the N1 Casino platform, including those accessing services from Canada. The AML/KYC framework is intended to prevent money laundering, terrorist financing and other financial crimes, and to ensure compliance with applicable legal obligations in the jurisdictions in which the platform operates or accepts customers.
1. Purpose and Scope
This policy is maintained to meet obligations under international AML standards and the regulatory requirements of the jurisdictions where customers are accepted. For users in Canada, procedures are aligned with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and with guidance issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
This policy applies to all account holders, prospective customers and any person or entity conducting transactions through N1 Casino.
2. Identity Verification Requirements
2.1. When Verification Is Required
Customer identity is verified in the following situations:
- At account opening, before any funds are disbursed or withdrawn.
- When a transaction or series of related transactions reaches or exceeds CAD 10,000 in cash or virtual currency.
- When CAD 10,000 or more is disbursed to a customer.
- When credit of CAD 3,000 or more is extended to a customer.
- When funds of CAD 3,000 or more are received from a customer.
- When a foreign currency exchange of CAD 3,000 or more is conducted.
- When the platform initiates or receives an electronic funds transfer of CAD 1,000 or more, where applicable.
- When a transaction is considered suspicious, regardless of amount.
2.2. Information Collected
For individual account holders, the following information is collected and verified:
- Full legal name
- Date of birth
- Residential address
- Occupation or nature of principal business
For corporate or other entity accounts, the following information is collected and verified:
- Legal name of the entity
- Incorporation or registration number
- Registered address
- Nature of business
- Beneficial ownership information, where required
2.3. Methods of Verification
Identity verification is performed using government-issued identification documents, such as passports, national identity cards or driver’s licenses. Third-party identity verification services, electronic database checks and document authentication technologies may also be used.
For entities, certified copies of incorporation documents, shareholder registers and beneficial ownership declarations are required.
3. Ongoing Monitoring and Record Keeping
3.1. Updating Customer Information
Customer identification records are kept up to date. This includes periodic review and updating of name, address and occupation or business activity. Customers are required to notify the platform of any material changes to their personal or business information.
3.2. Transaction Monitoring
All transactions are subject to ongoing monitoring to identify patterns or activities that may indicate money laundering, structuring or other suspicious behavior. Monitoring criteria include:
- Unusual deposit or withdrawal patterns
- Rapid movement of funds into and out of accounts
- Transactions inconsistent with the customer’s known profile or stated purpose
- Use of multiple payment methods or accounts
- Transactions just below reporting thresholds
3.3. Record Retention
Identity verification records, transaction records and supporting documentation are retained for a minimum of five years from the date of the last transaction or account closure, or for a longer period if required by applicable law.
4. Suspicious Activity Reporting
If a transaction or pattern of activity gives reasonable grounds to suspect money laundering or terrorist financing, a suspicious transaction report is filed with the relevant authorities, including FINTRAC where applicable. No information is provided to the customer regarding the filing of such a report.
5. Enhanced Due Diligence
Enhanced due diligence measures are applied to customers who present higher risk, including:
- Politically exposed persons (PEPs), their family members and close associates
- Customers from high-risk jurisdictions
- Customers involved in high-value or high-frequency transactions
- Customers whose source of funds or wealth cannot be readily verified
Enhanced measures may include additional identity verification, source of funds documentation, approval at a higher management level and more frequent monitoring.
6. Sanctions and Restricted Persons Screening
All customers and relevant transactions are screened against international sanctions lists, including those maintained by the United Nations, the European Union, the Office of Foreign Assets Control (OFAC) and other relevant authorities. Accounts linked to sanctioned persons, entities or jurisdictions are blocked, and related transactions are not processed.
7. Virtual Currency Transactions
Where virtual currency deposits or withdrawals are accepted or processed, the same AML/KYC standards apply as for fiat currency transactions. Virtual currency transactions are subject to identity verification thresholds, transaction monitoring and reporting obligations consistent with Canadian and international regulatory expectations.
8. Exemptions and Exceptions
In limited circumstances, previous identity verification may be relied upon if all of the following conditions are met:
- The customer was previously verified using an acceptable method.
- The required records have been retained.
- There is no reasonable doubt about the accuracy or completeness of the information.
Identity is not re-verified for transactions involving funds received from a financial entity or public body acting on behalf of a client, subject to applicable legal conditions.
9. Compliance Program
The AML/KYC compliance program of the platform includes:
- Written policies and procedures reviewed and updated on a regular basis.
- A designated compliance officer responsible for oversight of the program.
- Risk-based assessment of customers and transactions.
- Training for staff involved in customer onboarding, payments and compliance functions.
- Independent testing and audit of the effectiveness of AML/KYC controls.
10. Customer Obligations
Customers using the service are required to:
- Provide accurate and complete information during registration and verification.
- Submit requested identity documents and supporting materials promptly.
- Notify the platform of any changes to personal, contact or business information.
- Cooperate with additional verification or due diligence requests.
- Ensure that funds deposited originate from legitimate sources and are not connected to criminal activity.
Failure to comply with these obligations may result in account restrictions, transaction delays or account closure.
11. Contact for AML / KYC Matters
Questions regarding this AML/KYC policy, identity verification procedures or documentation requirements should be directed to the compliance team through the support channels indicated on the N1 Casino website.
This policy is effective as of the date of publication and may be updated periodically to reflect changes in legal requirements or internal procedures. Continued use of N1 Casino services constitutes acceptance of this policy.