Parimatch AML/KYC Policy

Compliance with Anti-Money Laundering Laws

To safeguard its players’ funds and ensure the brand meets international trade standards, Parimatch operates strictly within the bounds of laws aimed at preventing money laundering, terrorism financing, and criminal activities. 

This policy is designed to adhere to the regulations outlined in key legislations, including the Council for Financial Activities Control (COAF), which now operates as the financial intelligence unit (FIU) under the Brazilian Central Bank (as per article 2 of Law 13,974/2020). 

Additionally, the brand abides by the provisions set forth by the Central Bank itself, under article 1 of Law 9,613/98, commonly known as the Anti-Money Laundering Act, with the amendments introduced by Law 12,683/12.

Compliance Department

In order to follow the rules set by law, Parimatch company has set up a Compliance Department. This department works on creating measures to prevent money laundering and procedures to verify the identity of Parimatch players (AML/KYC). These measures are mandatory for all employees. The department also decides how Parimatch interacts with its players who have profiles on the site. 

The Compliance Department’s main goal is to make sure everything the company does aligns with global standards for fighting money laundering and terrorism financing. They also ensure that all documents players provide are current and meet legal requirements. So, when you sign up on Parimatch site, you’re agreeing to follow the company policy and abide by these rules without any reservations.

Verification Documents 

The Company needs certain documents from you to verify your identity. These include a colored copy of your passport (showing the first two pages with your picture and details, and any page with your residential address if it’s there), or a colored copy of your national ID card. 

Sometimes, the brand might ask for extra documents like your driver’s license or utility bills to confirm your address. The bookmaker will also need to confirm your phone number. If necessary, Parimatch might ask for more documents to complete its anti-money laundering checks and meet its compliance standards.

Withdrawals Rules 

Withdrawals from your profile are absolutely fine, but before the brand proceeds, it needs to verify your identity to ensure security. This involves submitting documents such as your passport, ID, driver’s license, or any other valid identification that confirms your identity. Additionally, the bookmaker will require you to complete a brief questionnaire.

When you’re prepared to make a withdrawal, the funds will be transferred directly to your own profile with Parimatch. The bookmaker maintains strict policies against sending funds to others or making transfers between profiles. The goal is to keep everything organized and secure, exclusively for your benefit.

Parimatch Responsibilities 

The Company has a responsibility to share your information with financial institutions and law enforcement agencies if the law requires it. The brand can do this without asking for your permission beforehand. When you use the site, you’re agreeing to this. According to this rule, the Company keeps all your details and records of your bets and payments for at least five years.

Players Responsibilities 

The player agrees to abide by all legal regulations, including international laws aimed at preventing illegal money transfers, financial scams, money laundering, and the legitimization of funds acquired through unlawful activities.

The player promises to do everything possible to steer clear of getting involved, directly or indirectly, in any shady financial dealings or unlawful transactions while using the site. Furthermore, the players assure that the money they deposit into their profile is obtained legally, rightfully belongs to them, and they have the authority to use it.

Parimatch Rights

If Parimatch happens to notice any fishy transactions in your account—like receiving cash from sketchy sources where the sender’s info doesn’t line up with yours—or if Parimatch spots any actions that seem fraudulent (like refunds or payment cancellations), the brand might need to launch an internal investigation. 

In some cases, the bookmaker might have to temporarily freeze or shut down your profile, cancel any pending payments, and halt any activity until Parimatch has completed its official inquiry. Parimatch decisions in these matters are always based on what the law says.

The company can ask you for more details if you’re using a different method to withdraw funds compared to how you deposited them. The brand might also temporarily lock your account if you decline to give the extra info Parimatch needs during its investigation.

During Parimatch investigation, the brand may need to ask for more copies of your ID, bank cards you’ve used to add money to your profile, payment records, and any other documents that prove your money is rightfully yours and came from legal sources. The bookmaker might even need to see the original documents.

The company has to be really careful when dealing with players classified as high-risk jurisdictions. The company won’t do transactions it sees as suspicious, like blocking or closing your account. But just because of that, the company isn’t legally responsible if it can’t meet its obligations to you. The company doesn’t have to let players or others know about the steps it takes to stop money laundering and terrorist financing.