KYC Policies
Registration
To register an account, the player is required to enter the following details:
- Full Name
- Date of Birth
- Country
- Address
- Password
- Age
Copytip does not allow any player under the age of 18 to register or take part in our services. It is not possible to register an account with the date of birth set to lower than 18 years of age, and if there is under any circumstances suspicion of a minor registering a fake date of birth, we will close the account till the customer is able to send a valid ID, and in some cases a face ID (picture where the customer is holding the ID next to his face).
Verification
The customer will not be able to get a withdrawal approved until the relevant documents are approved by our payments team. Verification requires a valid government issued ID and proof of address in order to verify the customer’s name, date of birth/age, address and registered country. The proof of address needs to be recent, from the last three months, to prove they are currently living there.
Customers can only withdraw to payment accounts already used for successfull deposit. This is part of the first stage DD checks known as “Simplified Due Diligence” check and shall be carried out upon each withdrawal request. At this stage, PEP and sanction checks are also carried out by relevant staff. Sanction lists consulted include Interpol, Europol, Consolidated EU Sanction List, UN Consolidated List of Targets, EEAS, Consolidated List. For PEP checks, customers are screened against CIA World Leaders Database; everypolitician.org; EU Members of Parliament. Should a customer appear on a sanction list, this shall be immediately escalated to the MLRO and the customer account shall be closed and reported to relevant authorities in Curacao or any other relevant jurisdiction. If a customer or close family member is discovered to be a PEP, this shall also be immediately flagged to the MLRO. The MLRO shall then decide whether to close the account and terminate the customer relationship, or whether to retain the customer relationship and keep the account open. If this decision is to keep the account open, the customer account shall be treated as high risk and subject to increased monitoring and fulfilment of the enhanced due diligence process.
The second stage of due diligence, known as the “Customer Due Diligence” stage, is carried out when the customer hits EUR10,000 in cumulative deposits or the equivalent in any other currency. At this stage, adverse media checks are carried out on the customer by using public sources. Therefore, depending on the country of residence and nationality, public sources are used to make adverse media checks on customers as necessary by using search engines such as Google, Bing, DuckDuckGo and referencing any media articles or other sources of public information.
The third stage of due diligence, known as the “Enhanced Due Diligence” process (“EDD”) shall be carried out for any customers, or any customers who have reached EUR50,000 in cumulative deposits or the equivalent in any other currency. At this stage, therefore, the customer shall be requested to provide a document proving the source of wealth.
Additionally, in all cases for bank transfers, Copytip would also need to verify that the bank account belongs to the same person as the customer, by verifying their bank statement showing customers name, bank account number and the bank logo. All suspicious transactions shall be immediately escalated to the MLRO. The MLRO will then decide whether the filing of a suspicious transaction report with the relevant authorities in Curacao and/or the relevant country of residence of the customer as appropriate is required. If a report is not made, the MLRO shall document the reason as to why this decision was made and retain all necessary information on the case.