Company Operational Model
3play is fully licensed under SG International N.V., registration no.137028 , registered at Dr. M.J. Hugenholtzweg 25 Unit 11, Curacao, license Nr. 8048/JAZ2015-035 and is carried out in accordance with the legislation of the country.
Our company policy statement dictates that BlockDance B.V. adheres to the AML obligations outlined by Curacao legislation.
Consequently, our senior management has instituted systems and procedures to comply with the standards mandated by relevant AML legislation in Curacao.
Definitions ML
Money Laundering: The process of disguising the origins of illegally obtained money to make it appear as if it was obtained from legitimate sources. This process typically involves three stages:
Placement: The initial stage involves placing illicit funds into the financial system, often through deposits or other means.
Layering: In this stage, the illicit funds are separated from their source through a series of complex financial transactions. This may include converting cash into various financial instruments such as traveler's checks, money orders, wire transfers, or purchasing assets.
Integration: The final stage involves reintroducing the laundered funds back into the economy through legitimate transactions, thereby making the illicit funds appear as if they were obtained legally. This allows the criminal to use the "clean" money without attracting suspicion.
AML (Anti-Money Laundering) Policy
BlockDance B.V. is aware that offering services related to online gaming pose a risk for money laundering and terrorist financing.
To identify, prevent, and limit the risks of money laundering and terrorist financing.
BlockDance B.V. implemented measures, processes, and internal controls into its daily business operations, which consider the nature of the BlockDance B.V.’s clients and services carried out by BlockDance B.V. With these measures, processes, and internal controls in place BlockDance B.V. meets all legal requirements related to measures preventing money laundering and terrorist financing, as required by applicable Curacao legislations.
BlockDance B.V. has prepared AML Policy regarding the prevention of money laundering to prove its commitment for detection, prevention, and reporting to national authorities of all attempts of using BlockDance B.V.’s services for any kind of transaction which would meet the statutory definition of money laundering and/or terrorist financing, or which presents any other form of illegal financial transactions.
AML Policy is modified and upgraded by changing legislation and good practice in the industry. The content of the AML Policy covers:
The internal organization of processes related to the prevention of money laundering.
Due diligence processes, also known as "Know Your Customer" (KYC) procedures.
Money laundering risk assessment procedures.
Identification of non-eligible and eligible categories of clients.
Implementation of enhanced due diligence measures for high-risk clients or transactions.
Reporting obligations towards competent authorities for suspicious transactions or activities.
To adhere to Anti-Money Laundering (AML) procedures, we mandate a 1x wagering requirement on all deposits before allowing withdrawal requests. Failure to fulfill this requirement may result in restrictions or denial of withdrawal until it is met.
Once the one-time turnover requirement is satisfied, users can request withdrawals based on the profits earned from their deposits.
For example, if User A deposits $100, they must wager a total of $100 to initiate a withdrawal.
If User A then earns a profit of $58 from this 1x wagering, the correct withdrawal amount for User A would be $158. Users may engage in additional wagering activities to accrue further rewards.