AML Policy

Last updated: 20.04.2025

Introduction

This AML (Anti-Money-Laundering) policy of J8de. The objective of the AML Policy is to offer the highest security to all users and customers on J8de. For that purpose, a three-step account verification process is undertaken to ensure the identity of customers. This process is intended to verify that the details provided during registration are accurate and that the deposit methods used are not stolen or used by another party. It is also established to create a general framework in the fight against fraud and money laundering. Moreover, depending on the customer's residence, origin, payment method, and withdrawal requirements, different safety measures must be taken.

General AML Measures

J8de implements reasonable measures to control and limit money laundering risk, including dedicating appropriate resources. J8de is committed to high standards of anti-money laundering (AML) in accordance with Malaysia’s, Singapore’s, Korea’s Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) and Personal Data Protection Act (PDPA) guidelines and regulations, and requires its management and employees to enforce these standards to prevent the use of its services for money laundering. AML compliance is maintained in accordance with internationally recognized regulations and standards for the prevention of money laundering, which include requirements for transparency in fund transfers, the implementation of sanctions and restrictions on designated individuals and goods (including dual-use items), and measures to limit cash usage.

Definition of Money Laundering

Money laundering is understood as:

– The conversion or transfer of property, especially money, knowing that such property is derived from criminal activity or participation therein, for the purpose of concealing or disguising the illegal origin of the property or of helping any person involved to evade legal consequences;

– The concealment or disguise of the true nature, source, location, disposition, movement, rights in respect of, or ownership of, property, knowing that said property is derived from criminal activity or participation in such activity;

– The acquisition, possession, or use of property, with knowledge at the time of receipt that such property was derived from criminal activity or from aiding in such activity;

– Participation in, association with, attempts to commit, or the aiding, abetting, facilitating, or counselling of any of the aforementioned actions.

Money laundering shall be considered as such even when the activities generating the property to be laundered are carried out in another Member State or a third country.

Organization of AML at J8de

In accordance with AML legislation, J8de has designated the highest authority for the prevention of money laundering, an AML Compliance Officer (AMLCO) is responsible for enforcing the AML policy and procedures within the system and is directly accountable to general management. Any major change to the J8de AML Policy must be approved by the AMLCO.

Verification Procedures

Step One

Every user and customer must complete step one verification before any funds can be withdrawn, regardless of payment method, payment amount, withdrawal amount, withdrawal method, or the nationality of the user/customer. Step one verification is a document that must be completed by the user/customer themselves, providing the following information: first name, last name, date of birth, country of usual residence, gender, and full address.

Step Two

Users who deposit over RM 2000, SGD 610, KRW 700 000 or withdraw any amount must complete step two verification. Until such verification is complete, any withdrawal, tip, or deposit will be held. In step two, the user/customer is directed to a subpage where they must submit their ID. The user/customer must take a picture of their ID with a paperclip displaying a six-digit randomly generated number positioned beside it. Only an official ID is permitted for verification (the list of accepted IDs may vary by country). An electronic check is also performed, comparing the data provided in step one with two different databases to ensure consistency with the information on the ID. If the electronic check fails or is not feasible, the user/customer must provide a government-issued certificate of registration or a similar document as confirmation of their current residence.

Step Three

Users who deposit over RM 5000, SGD 1500, KRW 1 800 000. Withdrawal over RM 5000, SGD 1500, KRW 1 800 000 or send another user over RM 3000, SGD 900, KRW 1 000 000 must complete step three verification. Until such verification is complete, any withdrawal, tip, or deposit will be held. For step three, the user/customer is required to provide information regarding the source of wealth.

Customer Identification and Verification (KYC)

The formal identification of customers, upon entering into commercial relations, is a critical element for compliance with money laundering regulations and the KYC policy. Such identification is accomplished by providing a copy of a passport, ID card, or driving license together with a handwritten note containing six randomly generated numbers, and by submitting a second photograph of the customer’s face. The customer may blur out any non-essential information to safeguard privacy, except for the date of birth, nationality, gender, first name, surname, and the photograph. All four corners of the ID must be visible within the same image, and all details must be clearly legible. Additional verification may be performed by an employee if deemed necessary.

Proof of Address

Proof of address is obtained through two separate electronic verifications using different databases. If the electronic verification fails, the user/customer may manually provide proof of residence by submitting a recent utility bill (issued within the last 3 months) or an official government document that validates the user’s residence (e.g., an electricity bill, water bill, bank statement, or government mail). The document must be submitted with clear resolution such that all four corners are visible and the text is legible. Additional verification may be required, as necessary.

Source of Funds

For users intending to deposit over RM 5000, SGD 1500, KRW 1 800 000 a source of wealth (SOW) verification process is initiated. Examples of acceptable evidence of SOW include business ownership, employment, inheritance, investments, and family support. It is imperative that the origin and legitimacy of the funds are clearly established. Should a user deposit the specified amount (RM 5000, SGD 1500) in one or more transactions, their account will be temporarily frozen. An email notification will be sent to the user, and a notification will appear on the website, requesting SOW verification. J8de may also request bank wire or credit card information to further verify the user/customer’s identity, along with additional financial information as needed.

Verification Form for Step One

The verification form is accessible via the settings page on J8de. Every user is required to complete the form with the following details: first name, last name, country of residence, gender, and date of birth. The information will be stored and processed by an AI system, and the Compliance Officer may conduct additional checks as necessary.

Risk Management

To address varying risks and wealth levels across different countries, J8de categorizes nations into three risk regions:

• Region One (Low Risk): Users from these nations undergo the three-step verification process as described above.

• Region Two (Medium Risk): For these nations, the three-step verification is required at lower deposit, withdrawal, and tip amounts. In this case, step one remains unchanged; step two must be completed after deposits or withdrawals of RM 1000, SGD 300, KRW 300 000 or tips of RM 500, SGD 150, KRW 150 000; and step three must be completed after deposits or withdrawals of RM 2500, SGD 700, KRW 900 000 or tips of RM 1000, SGD 300, KRW 300 000. In addition, users from low-risk regions who exchange cryptocurrency to other currencies will be treated as medium-risk users.

• Region Three (High Risk): Players from high-risk regions shall be banned. High-risk regions will be updated regularly in response to the evolving global environment.

Additional Measurements

An AI system will monitor for unusual activity and report any such occurrences immediately to a Compliance Officer. In addition, a data scientist supported by modern electronic analytical systems will observe unusual behavior (such as depositing and withdrawing without betting, attempts to use different bank accounts for deposits and withdrawals, changes in region or currency, behavioral or activity changes, and verification that an account is being used by its original owner). Furthermore, users must use the same method for withdrawals as was used for deposits to prevent money laundering.

Enterprise-wide Risk Assessment

As part of its risk-based approach, J8de has conducted an AML “Enterprise-wide Risk Assessment” (EWRA) to identify and assess risks specific to its business. The AML risk policy is determined after the inherent risks in its business lines (including the services provided by the website, the users served, transactions performed, delivery channels, geographic locations, and other qualitative and emerging risks) are identified and documented. These risk categories are based on J8de’s understanding of regulatory requirements, expectations, and industry guidance. Additional safety measures are implemented to address the risks associated with the worldwide web. The EWRA is reassessed on an annual basis.

Ongoing Transaction Monitoring

AML-Compliance ensures ongoing transaction monitoring is conducted to detect transactions that are unusual or suspicious relative to the customer profile. This monitoring is structured in three tiers:

The First Line of Control:

J8de works solely with trusted Payment Service Providers that maintain effective AML policies, ensuring that the majority of suspicious deposits occur only after proper KYC procedures have been executed on potential customers.

The Second Line of Control:

J8de informs its network that any contact with a customer, player, or authorized representative must trigger due diligence on the account’s transactions. This includes requests for executing financial transactions, inquiries regarding payment methods or account services, and information gathered via the three-step verification process with adjusted risk management. All transactions must be overseen by employees who report to the AML Compliance Officer, who in turn reports to general management. Specific transactions submitted via the customer support manager or the Compliance Manager are also subject to due diligence. The determination of an unusual transaction is based on a subjective assessment in light of the customer’s KYC, financial behavior, and the counterparty of the transaction. These assessments are performed by an automated system, with AML specialists performing additional cross-checks. Transactions for which it is difficult to ascertain the lawful activities and origin of funds are promptly deemed atypical, and any staff member observing such transactions must notify the AML division.

The Third Line of Control:

As a final safeguard against money laundering, J8de will conduct manual checks on all suspicious and high-risk users. If fraud or money laundering is detected, the authorities shall be notified.

Reporting of Suspicious Transactions on J8de

Within its internal procedures, J8de sets forth precise terms for when and how its staff shall report atypical transactions. Reports of such transactions are analyzed by the AML team in accordance with the methodology detailed in internal procedures. Based on the analysis and the information gathered, the AML team will decide whether to submit a report to the local authorities , in accordance with the legal obligations under the law of AMLA and PDPA , and whether to terminate business relations with the customer.

Procedures

The AML rules, including the minimum KYC standards, are translated into operational guidance or procedures, which are available on the J8de website.

Record Keeping

Records of data obtained for the purpose of identification must be retained for at least ten (10) years following the termination of the business relationship. Records of all transaction data must be kept for at least ten (10) years after the execution of transactions or the end of the business relationship. Such data will be securely encrypted and stored both offline and online.

Auditing

Internal audits are conducted regularly to assess AML activities, with missions and reports established accordingly.

Data Security

All data provided by any user/customer will be stored securely, and will not be sold or disclosed to any third party except when required by law or for the purpose of preventing money laundering. J8de shall adhere to all guidelines and rules of the PDPA.

Contact Us

Should you have any questions regarding our AML and KYC Policy, or if you have any complaints concerning our AML and KYC Policy or the procedures applied to your account and data, please contact us by email at: support@J8de