Elabet operates in full compliance with the applicable AML/CFT framework. The AML Program is designed to detect, deter, report, and prevent money laundering and the financing of terrorism, and to maintain the integrity of the platform and public confidence.
This policy applies to all Elabet customers and all account activity conducted on the platform. Elabet maintains an internal AML Program with governance, risk based due diligence, and ongoing monitoring procedures as required by law and regulatory expectations.
Elabet applies a risk based approach to customer due diligence and enhanced due diligence. On account opening the platform collects identifying information verifies identity assesses risk level and implements ongoing monitoring of activity.
When a customer aggregate deposits exceed EUR 2000 in lifetime value or a withdrawal is requested the customer enters the full KYC process. During verification the customer may be assigned a temporary approval status. While in Temporarily Approved status, activity is limited as described below.
During Temporarily Approved status customers may not perform deposits beyond an aggregate limit of EUR 500 and are not eligible to complete withdrawals. The KYC team will review submitted materials within 24 hours and communicate the outcome as approval, rejection, or request for additional information.
Elabet continuously monitors transactions to identify patterns consistent with money laundering or the financing of terrorism. Suspicious activity and transactions are escalated to the appropriate authorities in accordance with applicable law and the AML Program policies.
Elabet may request supplementary information including income sources or payment system statements and may require a video or telephone interview to validate information and ensure accuracy of records.
Elabet screens customer data against applicable sanctions and high risk jurisdiction lists. Access to services may be restricted for individuals or entities located in or transacting from jurisdictions as determined by the AML Program and regulatory requirements.
Personal data collected in connection with AML controls will be processed in accordance with Elabet privacy and data protection framework. Where required by law or competent authorities, Elabet may disclose information to regulatory bodies, law enforcement, and other authorized entities.
Customers must provide accurate information promptly update changes in personal details and cooperate with Elabet AML processes. Deliberate misrepresentation or failure to provide requested information may lead to account restrictions, suspension, or closure.
Elabet reserves the right to amend this AML policy. When changes are made customers will be notified in accordance with the platform's communication policy. Continued use of services after the effective date constitutes acceptance of the updated policy.