Anti Money Laundering Principles
Stake aims to prevent its services from being used for illegal financial activity. The company regularly reviews its internal procedures and updates them when regulatory requirements change. The AML program focuses on:
- Preventing money laundering and terrorist financing;
- Detecting suspicious transactions;
- Screening users against sanctions lists;
- Monitoring high risk account activity;
- Training employees on compliance procedures;
- Conducting regular reviews of AML controls.
These measures help Stake identify unusual behaviour before it affects the platform.
Money Laundering and Suspicious Activity
Money laundering is the process of concealing the origin of illegally obtained funds by making them appear legitimate. It typically involves moving funds through a series of transactions before they re-enter the normal financial system.
Stake also monitors other forms of suspicious activity, including:
- Fraudulent transactions;
- Attempts to bypass sanctions;
- Terrorist financing;
- Unusual betting or payment patterns;
- Activity linked to prohibited jurisdictions.
Accounts showing these indicators may be reviewed before additional transactions are allowed.
Customer Verification
Stake applies Know Your Customer (KYC) procedures before and during account use. Verification requirements depend on the customer’s risk profile and account activity. Players may be asked to provide:
- Full name;
- Date of birth;
- Residential address;
- Government issued identification;
- Proof of identity;
- Information about the source of funds or source of wealth.
Stake may also use independent verification providers to confirm the information submitted by players.
Transaction Monitoring
Stake continuously reviews account activity to identify unusual transactions or behaviour that may require additional checks. Monitoring may include:
- Deposits and withdrawals;
- Cryptocurrency wallet screening;
- Transaction size and frequency;
- High risk payment patterns;
- Activity linked to sanctioned or restricted jurisdictions.
If unusual activity is detected, withdrawals may be delayed while additional verification is completed.
Restricted Users
Stake may refuse registration or suspend accounts that do not meet its compliance requirements. This may apply to users who:
- Submit false or incomplete verification documents;
- Attempt to hide their location;
- Access the website from restricted jurisdictions;
- Appear on international sanctions lists;
- Cannot demonstrate the source of their funds when requested.
The company also reserves the right to suspend accounts whenever additional compliance concerns arise.
Ongoing Compliance Controls
AML checks continue after an account has been verified. Stake uses automated systems together with manual reviews to identify activity that requires further investigation. Additional controls include:
- Device and multi account detection;
- Time zone and location monitoring;
- Blockchain transaction analysis;
- Withdrawal reviews for higher risk accounts;
- Screening of cryptocurrency wallets;
- Restrictions on anonymous transaction methods.
These checks help detect behaviour that may indicate fraud or attempts to bypass compliance procedures.
Employee Training and Compliance
Stake regularly trains employees on anti money laundering, counter terrorist financing, and sanctions compliance. The AML program is supervised by the company’s Chief Compliance Officer, who oversees policy implementation, regulatory updates, and investigations into suspicious activity.
Reporting Suspicious Activity
Where required by law, Stake reports suspicious transactions and sanctioned individuals to the relevant authorities.
Accounts linked to money laundering, terrorist financing, sanctions violations, or other criminal activity may be suspended while an investigation is carried out. Additional information may be requested before access to the account or withdrawals is restored.