AML & KYC Compliance Statement

Wager is committed to preventing money laundering, terrorist financing, and fraud. We implement Anti-Money Laundering (AML) and Know Your Customer (KYC) measures to ensure the safety and legality of our platform.

1. Know Your Customer (KYC)

To comply with legal requirements and ensure user safety, we verify the identity of our users.

Standard Verification

Our standard verification process requires a valid Phone Number, GPS Location, Full Name, and Email Address. This information is collected to ensure compliance with federal and state regulations, verify eligibility to participate in skill-based competitions, and prevent fraud. We use this data to confirm you are located in a jurisdiction where our contests are legal and to maintain a secure gaming environment.

When Enhanced Verification is Required

Tax Reporting Threshold: If you win more than $600 in a calendar year, federal tax law requires us to issue a Form 1099-MISC. At this point, you will be required to provide your Social Security Number (SSN) and full legal name for tax reporting purposes.
When depositing or withdrawing amounts exceeding certain high-value thresholds.
When suspicious activity is detected on an account.
Upon request by our compliance team.

Enhanced Verification Documents

In these specific cases, we may request:

Government-issued photo ID (Passport, Driver's License).
Proof of address (Utility bill, Bank statement).
Selfie for liveness verification.

2. Anti-Money Laundering (AML)

We monitor transactions to detect and prevent money laundering activities.

Transaction Monitoring: All deposits, withdrawals, and wagers are monitored for unusual patterns.
Source of Funds: We reserve the right to ask for proof of source of funds for large transactions.
Wallet Screening: We screen wallet addresses against sanctions lists and known illicit addresses.

3. Fraud Detection

We employ advanced fraud detection systems to protect our users and platform.

Multi-Accounting: Creating multiple accounts to bypass limits or abuse bonuses is prohibited.
Collusion: Users found colluding to manipulate game outcomes or transfer funds will be banned.
Suspicious Activity: Accounts exhibiting suspicious behavior may be temporarily suspended pending investigation.

4. Reporting

We are required to report suspicious transactions to relevant financial intelligence units and law enforcement agencies where applicable.