Anti-Money-Laundering & KYC
Our obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, what we verify, what we report and how long we keep records.
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1. Our obligations
As a gambling operator we are a reporting entity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations. We maintain a written compliance program with a designated compliance officer, documented policies and procedures, a risk assessment of our business, ongoing training for staff, and an effectiveness review of the program at least every two years.
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2. Know your customer (KYC)
Before you obtain full access to your account, and in every case before any withdrawal, we verify your identity, your age and your residency in British Columbia. Verification uses government-issued identity documents supplied through our Document Upload tool and, where available, an electronic check against reliable independent sources including credit-bureau records. We re-verify where information changes, where a transaction pattern warrants it, or where our records have become out of date.
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3. Reporting to FINTRAC
We report to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC): large cash transactions of $10,000 or more in a 24-hour period; large virtual currency transactions of $10,000 or more in a 24-hour period, where applicable; disbursements of $10,000 or more in a 24-hour period; suspicious transactions and attempted transactions, regardless of amount, where there are reasonable grounds to suspect a link to money laundering or terrorist financing; and terrorist property, where applicable. Suspicious transaction reports are filed as soon as practicable after the suspicion is established. We are prohibited by law from telling you that a suspicious transaction report has been made.
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4. Source of funds
We may ask you to demonstrate the source of the funds you deposit, and the source of your wealth where the amounts or the pattern of activity make that appropriate. Acceptable evidence includes bank statements, pay records, sale documents or other independent records. Deposits must come from an account or payment instrument in your own name; third-party funding is not accepted. Where a request for source of funds is not satisfied, we may decline the deposit, restrict the account or return the funds to their origin.
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5. Monitoring
Account and transaction activity is monitored on an ongoing basis, including automatically, for indicators of money laundering, terrorist financing and fraud. Where an indicator is raised, the case is reviewed by a member of the compliance team before any restriction is applied. See the “Automated monitoring and profiling” section of our Privacy Policy for what data is analysed and what it can mean for you.
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6. Politically exposed persons and sanctions
We determine whether a player, or a person closely associated with a player, is a politically exposed person, a head of an international organisation or a family member or close associate of one, and we apply enhanced measures where that is the case. We screen against applicable Canadian sanctions and terrorist listings and act on any match in accordance with the law.
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7. Record retention
Records obtained or created for the purposes of the PCMLTFA — identity verification records, account opening records, transaction records, reports filed and the supporting material for them — are retained for at least 5 years. Retention periods for other categories of personal information are set out in the Retention section of our Privacy Policy.
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8. What this means for you
Complete verification early: an unverified account cannot be used to withdraw. Use your own payment instruments. Expect a request for further information if your activity changes materially. Restrictions applied for compliance reasons are not a judgement about you; they are obligations we are required by law to meet, and Customer Support can tell you what is needed to resolve them, subject to the limits the law places on what we may disclose.
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9. Contact
Compliance enquiries can be sent to support@lottobcmobile.co, marked for the attention of the compliance officer, or by post to British Columbia Lottery Corporation (BCLC), 74 West Seymour Street, Kamloops, BC V2C 1E2, Canada.