KYC Procedure


1.Player registration procedure – Account creation

Each player must create a unique account on web-site. All accounts are verified to make sure that the account is unique in the system, that the player is of age, and that the information entered is correct. All available checks are implemented to make sure that the information is correct and in compliance with regulations. The system automatically checks each that piece of information is in correct format, the employees perform all other checks. Each player should confirm that the information entered is correct and that this is his only account on the system. Also, the player needs to confirm that he or she accepts the Age Verification Policy, Privacy Policy, Terms and Conditions and General Rules for the web-site.

Each player is responsible for keeping his account password secret and know only to the account holder. If a player suspects that his password has been compromised, he is able to change it at any time by him/her self or with the help of our staff.

Mandatory information for account creation:

  • First and Last name.
  • Birthday (also used for age verification).
  • Email address.
  • Password.
  • Security question and answer (for identity verification and password retrieval).
  • Currency.
  • Address and phone number.

When all information is entered, the player clicks to confirm and submit the information to the system. Standard email verification is performed to ensure that the email address entered is valid and that the player has access to it.

When all information is verified to be correct and in compliance with the regulations and company’s rules, the account is activated. Each active account is periodically checked for compliance. Each account detail is checked for uniqueness on the system.

The company reserves the right to check each of the information the player submitted. This includes requests that the player sends copies of personal identification documents and/or other papers.

All sensitive information contained in every account is stored in the form of hash values and is not readable by anyone. This ensures that all sensitive information is protected from unauthorized use due to being unreadable to anybody.

Credit Card Data

Credit card or any other financial data is not kept at all at Meridian Systems. We always user 3rd party services for credit cards and payments processing. Sensitive credit card data is never kept, used, transmitted, or stored on any part of our systems.

 

2.Player log on procedure

To log on the web-site, the player must provide his username and password. Username is the email and password is one that the player entered when registering on web-site. Email must be unique for each player. The password that the player selects is stored using a 512bit hash algorithm (SHA-512 is used) and can not be seen anywhere in the system. Password must be 6 characters’ minimum. The password should be known only to the account holder – the player. The player can, at any time, choose to change his password.

If the password is lost or forgotten, a player can retrieve it using his email and security question to which he or she has keyed in a security answer. The security answer is also stored in form of a 512bit hash value. If the player knows the answer to the security question the system sends a new password to his email address. If the player loses his password and has no access to his email, the account password can not be retrieved, and this account can not be used any more. In that case, the account is closed, and all money that was on player’s balance is being paid out with previously selected payment methods.

All communication between the player and web-site is securely encrypted with HTTPS.

Player money deposit procedure

In the future Player will have multiple options to deposit funds to his account. 

  • Various credit cards
  • Various payment providers
  • Bank Transfer.

After login into his account a player must select the payment method. After that a secure page of the payment provider is shown and the player has options to transfer the money to his account. All payment providers are carefully selected and securely integrated into our system so that payment is performed in a safe manner.

All transactions successful or failed are logged. All logs are kept indefinitely. All logs are available to the Company’s authorized staff and to certified representatives of the authorities.

Credit Card sensitive data is never used, transmitted, or stored on any part of Company’s systems.

 

3.Player betting procedure

After logging in, player can choose on of numerous betting opportunities, which due to number of available options this document will not cover. Major betting options are listed in the enclosed documents. Each bet is stored on our system, and the main thing concerning this document is that each bet affects the players balance. When a bet is placed, the stake money is withdrawn from the player’s balance. If a bet is winning the winnings are added to the player’s balance. If a bet is cancelled or voided for any reason, the stake money is added to the player’s balance.

The player has reporting tools so that he can keep track of all his previous bets, open and closed ones. Closed bets can be winning, loosing, or canceled/voided. The report gives balances of both real money and bonus money that is sometimes awarded for promotional purposes. The player has, always, all information about all his previous activities on web-site. This information includes but is not limited to:

  • All previous bets, Winning, Loosing, or Canceled.
  • All open bets, the ones that have not been settled yet.
  • All previous deposits, with all the details like the date, method of payment, amount.
  • All previous withdrawals, with all the details like the date, method of payment, amount.
  • Current balance of the real money account.
  • Current balance of the bonus money account, clearly distinguished from the real money account.

4.Player money pay-out procedure

The player has, at any time, the right to request to withdraw his/her funds from the web-site. Banking fees may apply for some payment methods or amounts of money being transferred.

When a request is received, the staff undergoes additional checks to verify that the account holder is in fact the person he/she is claiming to be. This is to help prevent any fraudulent activity, possibilities of cheating, betting under false name, or with somebody else’s ID information, using stolen credit cards, using hacked accounts, money laundering etc.

The methods of checking usually include some (one or more) of methods listed here (list is not complete, additional checks may apply):

  • Player must provide proof of identity in the form of ID card, Passport, or other ID paper with a picture.
  • Player must provide a utility bill, to prove that his address of residence matches the information stored when the player has created the account.
  • Player must verify that all information entered while registering matches his real data.
  • Player must send a picture of him/her self with his face shown, holding at the same time opened valid ID papers with photograph, to prove the identity.
  • Player must contact the company via landline phone.

When the player creates an account he/she confirms that he/she agrees to all these security checks.

When a player successfully completes all checks, the requested money is transferred to the account from which the original deposit was placed. This helps prevent fraudulent behavior, money laundering, stolen credit card usage, etc.

 

5.Account closing – termination

A player’s account can be terminated in one of the following situations:

  • The Company suspects any kind of fraudulent activity, or any other breach of agreement that the player has agreed to while creating the account. When the account is terminated, the money is transferred back to the players private account or credit card from which the deposits were made.
  • The player requests that his account is terminated. Like in the previous case, all money from the player’s account is returned.
  • The representative authorities request that the player’s account is terminated. The money return rule also applies here.

 

6.Account monitoring tools

The company has a set of monitoring tools to keep track of:

  • all player accounts, active or terminated
  • all financial transactions
  • all communication with the players

These tools are at to be used by company’s authorized personnel and certified authorities for the jurisdiction in question. The information is never disclosed to unauthorized personnel or to third parties.

All reports are available through a set of specialized applications that enable easy and secure retrieval of all relevant information regarding player accounts. All connections to the company’s system are protected with SSL encryption to prevent eavesdropping.

The applications include sets of predefined reports that are used to retrieve relevant information from the system. No sensitive data such as passwords, security question answers or any other security information is shown in any of these applications.

All customers can contact our staff, free of charge, to gain any relevant piece of information regarding their balances, previous and current bets, previous money transfers, withdraw requests, or any other question regarding their account on the web-site.

 

7. KYC – Procedures

Verification of account:

Considering the high security standards, Company follows, and in order to be able to protect the privacy of your account, its details and funds in it, an account must be verified.

Customers send to Company the following for the verification of your account:

-             Evidence on identity: image of your ID card (front and back)

-             Evidence on address: copy of the recent utility bill (telephone, electricity, and similar).

Documents can be sent by mail to: info@meridianbet.com.cy

 

 

Important information for the client:

 

If the person has submitted false information, the Company is obliged to not register the said person as a client and, in the event the said person has already been registered, the Company is obliged to cancel his registration immediately.

A person who has not completed his eighteenth (18th) birthday is prohibited from registering as a client.

Company will maintain, in electronic form, a safe list of all client registered with him with the details mentioned in subsection (2) of the present section and any possible publication of such details or any part thereof, constitutes an offence, in accordance with the Processing of Personal Data (Protection of the Individual) Law.

Company will, at the request of the player in whose name an account has been created, transfer the amounts due to the player, within five (5) working days, from the date of the request, having first verification KYC procedure.

Company is obliged to retain the account of every registered client for a period of five (5) years from the date of the last transaction and may not destroy any of the information concerning the account unless the period of five (5) years lapses and has obtained the prior approval of the Authority.

All clients have been notified as to the conditions and the manner of conducting the bet, including the remuneration, if any.

Company is obliged within a period of thirty (30) days from the submission of the application for registration to confirm the identity of the client and to verify the information of the client.