AML & KYC statement

1. Our obligations

BAGGYBET PTY LTD is a reporting entity under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), enrolled with AUSTRAC, the Australian financial intelligence agency. We maintain an AML/CTF Program approved at board level, covering customer due diligence, transaction monitoring, staff training and reporting. This page is the public summary; the full Program is an internal document, as the Act contemplates.

2. Identity verification before you bet

We verify every customer's name, date of birth and residential address before the account is opened and before the first bet is accepted — not at withdrawal time. Verification runs electronically against Australian identity records via approved providers; most checks complete in minutes. Betting and deposits stay locked until verification succeeds.

3. Documents we may request

• Australian driver licence or passport — where electronic verification is inconclusive.
• Proof of address — a utility bill or bank statement less than 3 months old.
• Source of funds or wealth evidence — payslips, bank statements or similar, where transaction patterns require enhanced due diligence.

Documents are uploaded only through the encrypted account area — we never ask for them by email — and are handled as described in our Privacy Policy.

4. Ongoing customer due diligence

We monitor transactions on a risk basis for patterns associated with money laundering: rapid deposit-withdrawal cycles with minimal betting, structuring of amounts, activity inconsistent with a customer's profile, and use of accounts by third parties. Where risk indicators appear we may pause transactions, ask questions, request evidence, or end the relationship — and in some cases the law prohibits us from telling you why.

5. Payment rules that flow from the law

• No credit cards — prohibited for online wagering under the Interactive Gambling Act 2001.
• Deposits only from payment methods in your own name; third-party payments are returned.
• Withdrawals only to a verified Australian bank account in your name — never to a different person or an anonymous instrument.
• No cash, cheques or anonymous prepaid instruments.

6. Reporting to AUSTRAC

We file suspicious matter reports, threshold transaction reports (cash transactions of A$10,000 or more, which in practice do not occur in our online model) and compliance reports with AUSTRAC as required. Tipping off a customer about a suspicious matter report is a criminal offence, so questions about specific reports cannot be answered.

7. Record keeping

Customer identification and transaction records are retained for 7 years after account closure, stored encrypted with restricted access, then securely destroyed. Retention details are in the Privacy Policy.

8. What this means for you, practically

Register with your real details, deposit from your own accounts, and withdraw to your own bank — and you will likely never notice any of the machinery on this page. If we do ask for a document or a source-of-funds explanation, it isn't an accusation; it's the system working as Parliament designed it. Questions? Contact us.