AML and FICA Compliance Policy

OneBet Anti-Money Laundering (AML) and FICA Compliance Policy

This Anti-Money Laundering (AML) and Financial Intelligence Centre Act (FICA) Compliance Policy sets out OneBet (Pty) Ltd’s approach to preventing and detecting money laundering, terrorist financing, and other forms of financial crime in accordance with South African law and the Western Cape Gambling and Racing Board regulations.

1. Legal and Regulatory Framework

OneBet operates as an Accountable Institution under Schedule 1 of the Financial Intelligence Centre Act, 2001 (FICA). As such, we are obligated to establish and verify the identity of our customers, maintain appropriate records, and report suspicious and unusual transactions to the Financial Intelligence Centre (FIC).

2. Purpose of This Policy

This policy outlines the internal controls and procedures that OneBet uses to comply with AML and FICA obligations, including customer verification, ongoing monitoring, reporting duties, and record-keeping. The policy aligns with practices adopted by other reputable South African bookmakers such as PantherBet, Betway, and Hollywoodbets.

3. FICA Verification

a) OneBet (Pty) Ltd has obligations under FICA to perform identity establishment and verification procedures, customer due diligence, transaction monitoring, and record retention. These measures ensure that OneBet’s services are not used for money laundering or the financing of terrorism.

b) Where FICA or its associated regulations specify procedures or restrictions, OneBet will operate in full accordance with those provisions. Where FICA does not specify such procedures, OneBet will implement internal controls consistent with industry best practices.

c) As an accountable institution, OneBet is obliged to report to the FIC in the following circumstances:

• Suspicious or unusual transactions.
• Transactions involving persons suspected of intending to commit or of having committed offences related to terrorism or related activities.

d) OneBet will not activate a betting account until the identity of the customer has been established and verified. Customers must provide the following information during account creation or at any other time required for verification:

• Full names.
• Residential address.
• Date of birth.
• Contact details (email, mobile number).
• South African ID number or passport number.
• Source of funds used for betting purposes.

e) OneBet reserves the right to verify all information and documentation provided and to request additional proof of identity, address, and banking details where necessary. Accounts with incomplete or inconsistent information may be suspended or closed.

4. Customer Due Diligence (CDD)

OneBet applies a risk-based approach to CDD, categorising customers by their risk level and applying Enhanced Due Diligence (EDD) where warranted. This includes additional verification for Politically Exposed Persons (PEPs), high-risk jurisdictions, and unusual betting patterns.

5. Reporting Obligations

OneBet is committed to timely and accurate reporting to the FIC. The following reports are filed in accordance with FICA requirements:

• Suspicious Transaction Reports (STRs) under Section 29 of FICA.
• Cash Threshold Reports (CTRs) for cash transactions of R50,000 or more under Section 28.
• Terrorist Property Reports (TPRs) under Section 28A where applicable.

6. Record Keeping

All customer records, including identification and transaction data, are maintained securely for a minimum of five (5) years after the relationship ends, in compliance with FICA requirements. These records are made available to the FIC or regulatory authorities upon lawful request.

7. Staff Training and Compliance Oversight

All employees of OneBet receive ongoing AML and FICA compliance training. The Compliance Officer is responsible for monitoring adherence to this policy, conducting internal audits, and ensuring that suspicious activity is escalated promptly.

8. Sanctions and Enforcement

Non-compliance with this policy may result in disciplinary action, including termination of employment or account privileges. OneBet also reserves the right to report unlawful activity to law enforcement agencies.

9. Review and Approval

This policy is reviewed annually or as required by regulatory updates. All amendments must be approved by the Board of Directors and communicated to relevant staff.