Betnest adheres to and complies with “Know your customer” principles, which aim to prevent financial crime and money laundering through client identification and due diligence.

Betnest reserves the right, at any time, to ask for any KYC documentation it deems necessary to determine the identity and location of a user in www.betnestinc.com. We reserve the right to restrict the service, payment, or withdrawal until identity is sufficiently determined, or for any other reason in our sole discretion based on the legal framework.

We take a risk-based approach and perform strict due diligence checks and ongoing monitoring of all clients, customers, and transactions. As per the money laundering regulations, we utilize three stages of due diligence checks, depending on the risk, transaction, and customer type.

SDD — simplified due diligence is used in instances of extremely low-risk transactions that do not meet the required thresholds

CDD — customer due diligence is the standard for due diligence checks, used in most cases for verification and identification

EDD — Enhanced Due Diligence is used for high-risk customers, large transactions or special cases.