KYC & Compliance Policies
Happy Rise will establish a department in charge of compliance and other legal matters. The company also conducts the necessary procedures for the establishment of entities in the countries that are friendly with blockchain technology, the lottery, and the gaming industry.
KYC (Know Your Customer) compliance ensures every Happy Rise player is identified and age-verified before any play is allowed, eliminating underage players, as well as other non-compliance activities.
Happy Rise’s system maintains comprehensive audit trails providing full transparency.
The reasons for carrying out KYC or customer due diligence are as follows:
- to be confident that the customers are who they say they are
- to create fairness for customers and other players
- to determine whether customers are acting on behalf of others, and
- to guard our company against being used for fraud, money laundering or other criminal activity
Identification takes place by obtaining personal details and other relevant information in relation to that person.
- Name and surname
- Date of birth
- Permanent residential address
Other customer due diligence documents and status will be requested.
By law, our company is obligated to determine that the customer is old enough to participate in lottery activities and other games. If a customer provides a date of birth that does not match the legal age of the lottery in that jurisdiction, registration will be blocked.
Our company will adopt any government tools available in each country for age or identification checking where we operate.
Verification of the identity of the customer occurs when the user has reached the $2000 threshold or upon registration, if the customer is considered to be a high-risk customer, depending on the predetermined risk levels. In such cases, the customer will receive a notification to upload a verification document in the relevant section inside the customer Account. These documents will be reviewed and validated or rejected by employees of our company. In determining whether the customer reached the threshold of $2000, we will not take into account the winnings accumulated from the previous transaction which had not been collected but are reused to purchase tickets.
Any of the following documents are accepted as a means of verification of identity as long as the document contains photographic evidence of the user and is valid and unexpired:
- Driving license
- National Identification card (photographic)
- Other Government-issued documents with photos
Any of the following documents are accepted as a means of verification of residential address as long as the document contains the current residential address of the customer and is not older than 3 months:
- The bank statement
- Recent utility bill
- The official conduct certificate
- Other government-issued documents not mentioned
Documents used to verify the address of the customer must not be more than three months old. If documents are in a foreign language, our company will make sure that the relevant sections which provide evidence of the customer’s identity are translated and understood by the company.
If valid verification documents are not provided within 30 days from the moment they are requested, the suspicious transaction report will be considered. Within the 30-day window, the customer shall be able to deposit and play but not withdraw.
Once the KYC section is fully implemented, it will serve as a document management system as well and therefore, automatically checks all verification documents to ensure that they are not expired.
Should a document expire, or further information is required, the customer will be notified and the accounts will be flagged. Withdrawals will not be processed until valid documentation is provided.
The frequency of reviews and ongoing monitoring must vary according to the risk scoring of the client.