AML/CTF, KYC & Source of Funds
Bonus Kingdom Pty Ltd provides a designated service under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). We are committed to preventing our service from being used for money laundering, terrorism financing or other financial crime.
Our obligations
- Maintain and apply an AML/CTF program appropriate to our business and risk.
- Verify the identity of customers (Know Your Customer / KYC). In line with the Applicable Customer Identification Procedure (ACIP) rules for online wagering, we complete identity verification before an account can be used to gamble, and again before withdrawals.
- Conduct ongoing customer due diligence and monitor transactions for suspicious activity.
- Report suspicious matters, threshold transactions and other required reports to AUSTRAC via AUSTRAC Online.
- Keep records for the periods required by law (generally a minimum of seven years).
Governance & our AML/CTF program
- Risk-based approach: our program is built around an assessment of the money-laundering and terrorism-financing risks of our business, customers, products, channels and jurisdictions, and is updated as those risks change.
- AML/CTF Compliance Officer: we appoint a nominated AML/CTF Compliance Officer at management level, with senior-management and board oversight of the program.
- Politically Exposed Persons (PEPs): we identify PEPs and apply enhanced customer due diligence and senior-management approval where required.
- Sanctions screening: we screen customers against applicable sanctions lists and do not deal with sanctioned persons or entities.
- Staff training: relevant staff receive AML/CTF training appropriate to their role, refreshed regularly.
- Independent review: our AML/CTF program is subject to regular independent review, as required under the Act.
What this means for you
- We may ask for government-issued ID, proof of address and, where relevant, source of funds or wealth.
- We may request this information at registration, before a withdrawal, or at any time during our relationship.
- We do not accept credit cards for gambling, and we accept deposits and pay withdrawals only to accounts in your own verified name.
- We may delay, decline or refund a transaction, or restrict an account, where required to meet our legal obligations.
Source of funds & source of wealth
As part of our ongoing customer due diligence, we may ask you to explain and evidence where your funds or wealth come from — for example, payslips, bank statements, or other reasonable documentation. We do this to meet our legal obligations and to help prevent gambling-related financial harm, not to pry. We may:
- request source-of-funds information at registration, before or after a deposit or withdrawal, or at any time;
- set or adjust limits, or pause account activity, until satisfactory information is provided;
- decline or refund a transaction where we cannot satisfy our obligations.
Information you provide is handled under our Privacy Policy.
Cooperation with authorities
We cooperate with AUSTRAC, the Victorian Gambling and Casino Control Commission (VGCCC) and law-enforcement agencies as required by law. We may be legally prohibited from telling you if a report has been made about your account ("tipping off").
Your privacy
Information collected for AML/CTF purposes is handled in line with our Privacy Policy.