Roobetcanada.com, operated by Raw Entertainment B.V., is a prominent online casino platform recognized for its commitment to ethical practices and compliance with international regulations. Incorporated under the laws of Curaçao, Roobet operates under license 8048/JAZ2021-031 issued by the Government of Curaçao. As a reputable entity in the gambling industry, Roobet explicitly condemns and prohibits the use of its platform for illicit activities, including money laundering and terrorist financing. We have implemented robust measures and internal procedures to detect and prevent such activities, adhering to the regulations set forth by Curaçao and following industry best practices.
What is Money Laundering and Terrorism Financing?
Money Laundering
Money laundering is the process of disguising the origins of money obtained through illegal activities, making it appear legitimate. This process typically involves three stages:
Placement
This initial stage involves introducing illegal funds into the financial system, separating the money from its criminal origins.
Layering
During layering, the illicit funds are moved through a complex series of financial transactions to obscure their source. This stage aims to create a web of transactions that make tracing the original illegal activity difficult.
Integration
In the final stage, the laundered money is integrated into the economy through legitimate means, making it appear as clean money.
Terrorism Financing
Terrorism financing involves the collection or provision of funds with the intent or knowledge that they will be used to carry out terrorist activities. This process is distinct from money laundering but equally harmful, requiring vigilant detection and prevention measures.
How Do We Fight It?
Roobet has established comprehensive measures, internal procedures, and policies to prevent its platform from being used for money laundering and terrorism financing. These measures are divided into several key components:
Internal Policies & Procedures
We have developed internal policies and procedures that are designed to detect and deter illicit activities. These policies are regularly reviewed and updated to ensure compliance with current regulations and best practices.
Know Your Customer (KYC)
We implement thorough KYC processes to verify the identity of our players. This includes:
- Checking personal information such as name, date of birth, and address.
- Conducting Politically Exposed Persons (PEP) and sanctions checks.
- Verifying the source of funds when appropriate.
Transactions Monitoring
Monitoring transactions is crucial in identifying and preventing illicit activities. Roobet employs a combination of internal and external software tools to analyze players’ gameplay patterns and financial transactions. This monitoring system helps us detect and report any suspicious activities.
Governance & Training
Roobet has appointed a Money Laundering Reporting Officer (MLRO) responsible for overseeing the implementation of our AML policies and procedures. The MLRO works with other stakeholders to review policies, assess regulatory requirements, and investigate suspicious activities. Additionally, we provide annual AML training to all employees to foster awareness and ensure compliance throughout the organization.
Reporting
As a regulated entity, Roobet is committed to reporting any unusual or suspicious transactions to the Curaçao Financial Intelligence Unit (FIU). We also cooperate with government authorities in investigations related to illicit activities.
Know Your Customer
The KYC process is a critical component of our AML strategy. At Roobet, we apply due diligence measures at the time of player registration and throughout our ongoing relationship with the player. Our KYC procedures include:
Identity Checks
We verify the identity of our players by checking their personal information, ensuring it matches with official documents.
PEP and Sanctions Checks
We perform checks to identify Politically Exposed Persons (PEPs) and individuals on sanctions lists to prevent high-risk individuals from using our platform.
Source of Funds Verification
Where appropriate, we verify the source of the funds used by our players to ensure they are not derived from illegal activities.
Transaction Monitoring
To prevent money laundering and terrorism financing, Roobet employs a sophisticated transaction monitoring system. This system combines internal and external tools to analyze players’ transactions and gameplay patterns. By continuously monitoring these activities, we can detect, deter, and report any suspicious behavior.
Implementation of Monitoring Systems
Our monitoring systems are designed to identify potential red flags and unusual activity. These systems are regularly updated to incorporate the latest technology and best practices.
Analysis of Gameplay Patterns and Activity
By analyzing gameplay patterns and transaction activity, we can assess the risk profile of our players and take appropriate action when necessary.
Governance & Training
Effective governance and training are essential to maintaining our AML compliance.
Role of the MLRO
The Money Laundering Reporting Officer (MLRO) is responsible for coordinating the implementation of our AML policies and developing initiatives to enhance our internal procedures. The MLRO also collaborates with other stakeholders to revise policies and ensure compliance with new regulatory requirements.
AML Initiatives and Policy Revisions
The MLRO continuously assesses and updates our AML policies to adapt to evolving regulatory landscapes and emerging threats.
Annual AML Training for Employees
We provide annual AML training to all employees, ensuring they understand their responsibilities and are equipped to recognize and report suspicious activities.
Reporting & Collaboration
Roobet is committed to transparency and cooperation in the fight against money laundering and terrorism financing.
Reporting Suspicious Transactions
We have established procedures to detect and report suspicious transactions to the Curaçao Financial Intelligence Unit (FIU). This ensures that any potential illicit activities are promptly investigated.
Collaboration with Government Authorities
Roobet actively collaborates with government authorities and other regulatory bodies to support investigations and share information that may help prevent illicit activities.
Contacts
If you have any questions regarding our KYC-AML-CFT policy or wish to report any suspicious activity, please contact our support team at [email protected].