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AML & KYC Policy

AML & KYC Policy

Introduction

At Funky Time Bangladesh, player trust is our top priority. To maintain a secure environment for all users, we follow robust AML (Anti-Money Laundering) and KYC (Know Your Customer) protocols.
These measures protect players from fraud, ensure fair play, and align with global regulatory requirements in the online gaming industry.

Note: We are not an operator but an informational platform. The casinos we recommend are required to comply with AML and KYC laws, and we feature only those that meet these standards.

What is AML?

Anti-Money Laundering (AML) refers to a set of laws and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
In the context of online gaming, AML compliance ensures that gambling platforms are not used for fraudulent activities, terrorist financing, or other unlawful purposes.

  • Prevents illicit money from entering the gaming system.
  • Requires monitoring of financial transactions for suspicious activity.
  • Mandates reporting to relevant authorities if suspicious activity is detected.

What is KYC?

Know Your Customer (KYC) is the process by which gaming platforms verify the identity of their users. This includes confirming personal details and ensuring that the player is of legal age to participate in gambling.

Common KYC verification steps include:

  • Proof of identity (passport, national ID, driver’s license).
  • Proof of address (utility bill, bank statement, government correspondence).
  • Verification of payment method ownership (bank statement, e-wallet screenshot).

Why AML & KYC are Important for Bangladeshi Players

As Bangladesh does not have a domestic licensing system for online casinos, players typically access games like Funky Time via international platforms.
AML and KYC policies ensure that even in a cross-border environment, your identity, funds, and rights are protected.

Without these safeguards, players could face increased risks of fraud, identity theft, and unfair gameplay. Choosing licensed, AML/KYC-compliant platforms is critical for safety.

How AML Works in Online Gaming

Licensed platforms follow structured AML policies that include:

  1. Customer Due Diligence (CDD): Basic verification before allowing deposits and gameplay.
  2. Enhanced Due Diligence (EDD): More detailed checks for high-risk transactions or accounts.
  3. Transaction Monitoring: Continuous oversight of deposits, withdrawals, and betting patterns.
  4. Suspicious Activity Reports (SAR): Filing with regulators if suspicious behavior is detected.

KYC Process in Detail

Completing the KYC process is typically mandatory before your first withdrawal. The process generally involves:

  1. Registering an account with accurate details matching your legal documents.
  2. Uploading identity proof and address proof documents via a secure portal.
  3. Verifying your payment method to ensure it’s in your name.
  4. Waiting for the casino’s compliance team to approve your documents (usually within 24-72 hours).

Documents Required for KYC Verification

  • Proof of Identity: Passport, driver’s license, or national ID card.
  • Proof of Address: Recent utility bill, lease agreement, or bank statement.
  • Payment Method Proof: Screenshot or statement showing ownership of your deposit/withdrawal method.

Player Responsibilities

  • Provide accurate and up-to-date information during registration.
  • Ensure that all documents are clear, valid, and match your account details.
  • Use only personal payment methods that are in your own name.
  • Respond promptly to any additional verification requests from the platform.

How Funky Time Bangladesh Evaluates AML & KYC Compliance

Before recommending any platform, we check for:

  • Visible licensing from a recognized authority (MGA, UKGC, Curacao eGaming).
  • Clear and accessible AML/KYC policy pages.
  • Secure document upload systems (HTTPS, encryption).
  • Positive player feedback on verification processes.

Security Measures for Player Data

Platforms we recommend use modern encryption and data handling practices:

  • SSL encryption for all sensitive communications.
  • Restricted employee access to verification documents.
  • Compliance with GDPR or similar data protection laws.
  • Document deletion after verification, where possible.

Risks of Playing Without AML & KYC

Choosing a non-compliant platform can lead to:

  • Blocked or delayed withdrawals.
  • Loss of deposited funds if fraud is detected.
  • No recourse in disputes.
  • Potential misuse of your personal data.

Responsible Gaming Connection

AML and KYC checks are not just for legal compliance — they also help enforce responsible gaming.
By verifying identities, platforms can block underage gambling, monitor high-risk play patterns, and offer self-exclusion tools effectively.

FAQs

1. Do I need to complete KYC to play Funky Time?

You can often play before KYC, but withdrawals typically require full verification.

2. How long does KYC take?

Most platforms process KYC within 24-72 hours if documents are clear and valid.

3. Is my personal data safe?

Yes, if you play on licensed platforms with encryption and strict privacy policies.

4. What happens if I refuse KYC?

You may be unable to withdraw funds, and your account could be restricted.

5. Are AML and KYC the same?

No. AML covers anti-money laundering rules; KYC is one part of AML compliance focused on identity verification.