Definition of money laundering
Money Laundering is understood as:
• The conversion or transfer of property, especially money, knowing that such
property is derived from criminal activity or from taking part in such activity, for the
purpose of concealing or disguising the illegal origin of the property or of helping any person who is involved in the commission of such an activity to evade the legal
consequences of that person or companies action;
• The concealment or disguise of the true nature, source, location, disposition,
movement, rights with respect to, or ownership of, property, knowing that such
property is derived from criminal activity or an act of participation in such an
• The acquisition, possession or use of property, knowing, at the time of receipt, that
such property was derived from criminal activity or from assisting in such activity;
• Participation in, association to commit, attempts to commit and aiding, abetting,
facilitating and counselling the commission of any of the actions referred to in points
Money laundering shall be regarded as such even when the activities which
generated the property to be laundered were carried out in the territory of a third country.
Anti-Money Laundering Policy
Players may not use Olymp.casino services in any way directly or indirectly associated with money laundering.
If the Player does not respect these rules and regulations, then Olymp.casino may suspend the Player's Account pending investigation
Registration of Players
The process for the registration of players is provided under the T&Cs. This provides for the due diligence process to be carried out before the opening of Accounts. The due diligence procedure is carried out for the prevention of money laundering.
- When using the Website, registering an account or using the Service, the User may be asked to provide his/ her personal data.
- The User guarantees the authenticity of the Personal Data and the User also guarantees that he/ she owns such Personal Data. The User has no right to provide information about third parties.
- Bets and deposits are accepted from Customers over 18 (eighteen) years old and possessing relevant legal capacity. The bettor (the customer) is responsible for the breach of this paragraph.
- Olymp.casino shall, at all times, keep a secure online list of all registered Players. Anyone individual can only register a single Account with Olymp.casino and multi-account practices are strictly prohibited.
- Olymp.casino shall not open anonymous Accounts or Accounts in fictitious names such that the true beneficial owner is not known.
Examination of transactions
Each and every transaction may be subject to money laundering or the funding of terrorism investigation scrutiny. Olymp.casino reserves the right to examine with special attention, and to the extent possible, the background and purpose of any complex or large transactions and any transactions which are particularly likely, by their nature, to be related to money laundering or the funding of terrorism.
Payments of winnings
A Player requesting the first withdrawal following registration shall be required to verify his identity. The withdrawal request shall not be acceded to by Olymp.casino prior to the verification process on the website.
In all cases, Olymp.casino reserves the right to suspend a cash-out request pending verification of the Player's identity, age and location.
Withdrawals from player's Account are made using the same payment method as was used for the deposit. The administration can decide to allow withdrawals using different methods of payment in certain instances.
Reporting to authorities
Olymp.casino reserves the right to report suspicious transactions to the relevant authorities.