Terms And Conditions
Legal Information
Terms and Conditions
These legal terms and conditions (hereinafter referred to as “Terms”) aim to outline and regulate your rights and responsibilities while using the https://fabulous-bv.com/ website (hereinafter referred to as the “Fabulous Ltd”) and the relationship between you and Fabulous Ltd. By accessing or utilizing the Website, you expressly acknowledge and confirm your comprehension and acceptance of these Terms. Unless proven otherwise, all activities carried out on the Website via your Internet connection or electronic device are deemed to be your responsibility.
The ownership and management of fabulous-bv.com are under the jurisdiction of Fabulous Ltd, with registration number 15714 and registered address at Hamchaku, Mutsamudu, The Autonomous Island of Anjouan, Union of Comoros
UPDATES AND MODIFICATIONS TO TERMS AND CONDITIONS
These Terms were last revised on July 3, 2024.
These Terms may be altered, amended, or modified for any reason without prior notification. In the event of such changes, revisions, or modifications, the updated Terms and Conditions will be published on this Website along with the date of revision. It is your responsibility to regularly review the Terms before using this Website. Your continued use of the Website following any revisions to these Terms implies your acknowledgment that you have read the revised Terms and agree to abide by them.
1. GOVERNING LAWS & TERMS OF WEBSITE USAGE
These Terms and Conditions shall be interpreted and governed in accordance with the laws of Union of Comoros. Any disputes arising from or related to these Terms and Conditions shall exclusively fall under the jurisdiction of the courts of Union of Comoros.
1.1. Terms of Use and Restrictions
Your use of the Website is strictly governed by lawful purposes and compliance with these Terms and Conditions. You expressly agree not to use the Website in violation of the provisions outlined below.
1.2. Violation of Laws and Regulations:
Engaging in any activity that breaches any applicable national, provincial, or international laws or regulations is expressly prohibited.
1.3. Unlawful Transmission of Material:
Utilizing the Website in any manner that involves or may involve the transmission or dissemination of unauthorized and/or illegal material, including but not limited to advertising, promotional materials, “junk mail,” “chain letters,” or “spam,” is strictly prohibited.
1.4. Impersonation:
Participating in any form of impersonation, such as using an email address associated with another person, or attempting to impersonate Fabulous Ltd, its employees, other visitors, or any other individual or entity, is expressly prohibited.
1.5. Restrictions on Use and Enjoyment:
You are strictly prohibited from engaging in any conduct that restricts or inhibits the use or enjoyment of the Website and its digital assets, or which, as determined by Fabulous Ltd, may harm Fabulous Ltd or visitors to the Website or expose it to liability.
1.6. Inappropriate Content:
Using the Website in any manner that contains defamatory, harassing, obscene, embarrassing, vulgar, malicious, harmful, threatening, derogatory, discriminatory, false, political, abusive, sexist, hateful, racist, or profane content is expressly prohibited.
1.11. Additional Restrictions:
Apart from the limitations mentioned above, you explicitly agree to abstain from the following:
Use of automated devices:
Employing any automated device, such as robots, spiders, or any other mechanism, current or developed in the future, to access the Website for any purpose, including monitoring or duplicating any content from the Website.
Unauthorized Monitoring or Duplicating:
Engaging in any manual or automated process to observe, replicate, or utilize any content from the Website for unauthorized purposes without prior written consent from Fabulous Ltd.
Disabling or Harming the Website:
Using the Website in a manner that could potentially impair, overload, or harm the Site, or disrupt another party’s ability to use the Website, including their participation in real-time activities through the Website.
Interference with Website Functionality:
Employing any current or future device, software, or routine that disrupts the proper functioning and reliability of the Website.
Malicious Software:
Introducing any form of malicious code, including viruses, Trojans, worms, or other harmful materials, to the Website, whether existing or developed in the future.
Unauthorized Access and Disruption:
Attempting unauthorized access, interference, damage, or disruption to any part of the Website, its servers, or any connected server, computer, or database.
Attack or Interference Attempt:
Any effort to attack or disrupt the normal operation of the Website is strictly prohibited.
1.12. Reporting Illegal Use
If you possess any evidence, such as audio, video, or photographic documentation, regarding the unlawful use of the Website or its components, kindly notify us via the our email: [email protected]
2. INTELLECTUAL PROPERTY RIGHTS PROTECTION
Trademarks, copyrights, and various other intellectual property rights, including information, data, code, interfaces, text, designs, artwork, photographs, music, images, and materials (collectively referred to as “Intellectual Property”), are either the exclusive property of Fabulous Ltd or are provided by its suppliers, customers, or licensors.
Any use of the aforementioned intellectual property rights and/or related materials on the Website is subject to the following terms and conditions:
The Website and all intellectual property and/or related materials contained therein are solely for your personal, internal, and private use.
Without prior written permission from Fabulous Ltd, you may not use, reproduce, republish, post, broadcast, or transmit any part of the Website or its intellectual property and/or related materials for any purpose, as expressly prohibited by law. This includes restrictions on reproducing or storing any intellectual property from the Website in any electronic retrieval system or service.
Modification or creation of derivative works based on any intellectual property rights on the Website is strictly prohibited unless explicitly permitted by Fabulous Ltd in these Terms or in writing.
All rights not expressly granted in these Terms or in writing by Fabulous Ltd are reserved by Fabulous Ltd.
3. ADDITIONAL RIGHTS AND RESPONSIBILITIES
3.1. Indemnification
You explicitly acknowledge and agree to indemnify, defend, and hold harmless Fabulous Ltd , its affiliates, subsidiaries, agents, officers, and employees from any actions, claims, demands, damages, losses, liabilities, judgments, settlements, costs, or expenses (including attorneys’ fees and costs) arising directly or indirectly from:
- Your breach of these Terms or any user using your electronic device or internet connection.
- Claims, losses, or damages resulting from your use or attempted use of the Website, or inability to use it.
- Your violation of any law, regulation, or other obligations under these Terms or applicable law.
3.2. Coorperation
You agree to fully cooperate with Fabulous Ltd in defending against any actions, claims, demands, settlements, costs, and during compromise negotiations specified in the INDEMNIFICATION clause of these Terms.
3.3.Assignment
You acknowledge and agree that the assignment of any rights, interests, or obligations under these Terms is prohibited without prior written consent from Fabulous Ltd , except as expressly permitted herein. Fabulous Ltd reserves the right to assign these Terms or any rights, interests, or obligations without your consent.
3.4. Third Parties
This Website may contain links to third-party websites, applications, or resources operated by third parties. By accessing these third-party resources, you acknowledge and agree to do so at your own risk. Fabulous Ltd expressly disclaims any liability for the content or consequences of visiting these third-party resources.
3.5. Privacy Policy
Your personal data is processed in accordance with the Website’s Privacy Policy. It is advisable to read the Privacy Policy before providing any personal data or using the Website.
4. LIMITATION OF LIABILITY & LEGAL DISCLAIMER
4.1 Disclaimer of Warranties
The Website and its content are provided “AS IS” unless expressly provided by Fabulous Ltd and/or under these Terms. Fabulous Ltd disclaims all representations and warranties to the fullest extent permissible by law.
4.2 Limitation of Liability
Fabulous Ltd, its affiliates, licensors, service providers, agents, officers, directors, or employees shall not be liable for any damages of any kind under any Legal Theory arising from or in connection with your use of the Website, including direct, indirect, special, incidental, consequential, or punitive damages.
5. SEVERABILITY
If any provision of these Terms is deemed invalid or unenforceable, it shall be deleted, and the remaining provisions shall remain enforceable. A valid and enforceable provision shall replace any deleted provision.
PURPOSE OF THIS PRIVACY POLICY
This privacy policy (“Policy”) is designed to provide you with a transparent understanding of the collection and processing of your personal information through your use of this website. This includes any data you may provide while interacting on the website, including entering contact information in conversations or messaging with our team, or when seeking information about our software and potential services.
This policy is dedicated to ensuring the protection and preservation of your personal preferences. It is important that you review this Policy in conjunction with our other policies available on this Website.
1. INTRODUCTION
fabulous-bv.com is the property of and is operated by Fabulous Ltd, registration number 15714, registered address Hamchacko, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros. Fabulous, hereinafter referred to as “Fabulous”, “we”, “our” or “Controller”, is the designated controller and is responsible for the processing of your personal data. To safeguard information from loss, misuse, alteration, or unauthorized access by third parties, the Company adheres to all relevant administrative and technical requirements, including conducting regular checks, tests, and other crucial assessments.
If you have any questions regarding this Policy, please contact [email protected].
POLICY UPDATES
This policy was last updated on July 1, 2024
2. TYPES OF DATA COLLECTED
2.1. Privacy:
This refers to any personally identifiable information, excluding deleted (anonymized/anonymized) data.
2.2. Personal information categories:
Contact and communication data: Limited to email address, phone number, Skype or other means of contact.
Technical data: This includes your IP address, browser type and version, time zone and location, operating system and/or device information, and other technical details of the device or means used to access this website.
Website data: Relates to information about your use and navigation of this website.
2.3. Aggregated data:
We may collect, use and share aggregated data, such as statistical or demographic data, for various purposes. This data, derived from some of your personal data, does not directly or indirectly reveal your real identity. For example, it may be used to calculate the overall percentage of visitors to a website or specific part of a website.
COOKIE USAGE
For comprehensive details regarding the type and manner of cookie usage, please refer to our Cookie Policy by following the provided link.
PROCESSING OF MINORS' DATA
The Website is explicitly not designed for individuals under the age of 18, and we have no intention to knowingly process data of individuals under this age. If you are a parent or legal guardian and discover that your child has utilized our Website, kindly contact us through available communication channels, and we will promptly implement appropriate measures.
3. METHODS OF DATA COLLECTION
3.1. Various Avenues of Data Collection Include, But Are Not Limited To:
3.1.1. Information Provided through Website Contact Form and/or Website Online Chat:
In this manner, we collect Identification data, Contact and communication data, and other relevant data voluntarily provided by the individual. This information is gathered through the individual’s voluntary submission on our Website and is processed to furnish a clear response to queries or requests.
Legal Basis: The legal foundation for such processing is your explicit consent.
In this mode, we collect Website data and Technical data, encompassing details about Website navigation, products of interest, dynamic IP address, browser type, operating system, referral sources, and other pertinent information.
Legal Basis: The legal foundation for such processing is the ongoing monitoring and enhancement of our Website and user interactions.
3.1.3. Information Obtained through Third Parties and/or Publicly Available Sources:
Legal Basis: The legal foundation for such processing is the protection of our own and third-party legal rights.
3.1.4. Information Collected via Our Cookies:
Legal Basis: The legal foundation for such processing is your explicit consent.
3.1.5. Information Recorded for Documentation and Correspondence:
Legal Basis: The legal foundation for such processing is the protection of our own, yours, and, if applicable, third-party legal rights.
4. HOW IS THE COLLECTED DATA USED?
4.1. The use of collected data is subject to legal permissions. Personal data is generally used in the following cases:
4.1.1. We will contact you based on your contact form and/or online chat query you have opted to use to contact us.
4.1.2. Execute a non-disclosure agreement for subsequent business proposals.
4.1.3. Necessary to protect our legitimate interests and/or the legal rights of us, you and third parties (as applicable).
4.1.4. We fulfill other legal obligations as controller.
Pursuant to clause 4.1. (c) Personal data may be processed for our legitimate interests and for the purposes described below.
Collection, recording, processing of the information obtained, performing statistical and other analyzes and further research to improve and upgrade the website and services.
Management and development of the website and its services.
Improving the website user experience, including providing personalized services.
We will contact you regarding your request/inquiry via follow-up correspondence.
Profiling you and/or your activities on the Website for the purpose of improving the marketing of the Website and Services.
5. PRINCIPALS OF DATA PROCESSING
5.1. Your fundamental rights are fully respected and the protection of your privacy is Fabulous Ltd’s top priority. When processing personal data, we adhere to the basic privacy principles under the laws of the governing jurisdictions.
5.1.1. Principles of legality, fairness and transparency. We submit your personal data to legitimize our processing and ensure a fully transparent approach to data processing.
5.1.2. Purpose limitation and data minimization principles. Personal data is collected and processed only for legitimate and explicit purposes as described in this Policy.
5.1.3. Accuracy principle. Personal information received is kept securely and is thoroughly checked and verified with your assistance to ensure accuracy. Corrections or updates will be made as needed.
5.1.4. Identification principle. Your personal data will be kept in identifiable form so that you and we can identify it for as long as the processing requires it.
5.2. We confirm that your personal data is collected only for the purposes set out in this Policy and we do not intend to collect it beyond this scope. Additionally, the personal data collected is not used for automated decision-making or profiling.
5.3. Without prejudice to this Policy, we will not disclose, intend to disclose or transfer your personal data to any third party without your consent, except where permitted or obligated to do so by law or specific contractual agreement.
5.4. As a data controller, we ensure compliance with all applicable laws and legal obligations.
6. DATA SHARING AND DISCLOSURE
6.1. Under certain circumstances, we may share and disclose your personal data as described below.
6.1.1. Legal compliance (local and international laws, authorities requests, harm prevention): We disclose your personal information to courts, government authorities, and/or law enforcement agencies or authorized third parties (as applicable) where required or permitted by law.
6.2. Service Providers (Third Parties): We may request the services of third-party software and payment providers to assist us in providing services on this Website. Our service providers have limited access to your data and are bound by contracts that require them to provide the same level of protection and security for information disclosed and provided by us that we provide under this Policy.
6.3. Our Affiliates: We may share your personal information with any member of our group (meaning our subsidiaries, our ultimate holding company and its subsidiaries) where reasonably and lawfully necessary to do so for the purposes of this policy.
6.4. Aggregated Data (as described in Section 2.2 of this Policy): We use aggregated and/or other anonymized information for legal compliance, business and market analysis, demographic data analysis and research, marketing and other business purposes. You can share it.
7. DATA SUBJECT RIGHTS
7.1. We acknowledge that you have the following rights in relation to the personal information you provide:
7.1.1. Request access to or a copy of the personal information you provided to us and information relating to its processing.
7.1.2. If your personal information is inaccurate or missing, please request correction.
7.1.3. Please request (where technically feasible) your personal data in a portable format (structured, commonly used, and machine-readable) for the purpose of transmission to another controller.
7.1.4. Request that we stop and restrict all processing of your personal data as explicitly stated in the law.
7.1.5. Object to any processing of your personal data as explicitly stated in the law.
7.1.6. Object to automated processing, including profiling, that affects or may affect you.
7.2. All rights set forth in 7.1. You can exercise by sending an email letter to the administrator email mentioned in the introduction section. Before we take action, we may ask you to verify your identity to ensure the protection and safety of your processed personal data.
7.3. A response to your request will be provided within one month of receipt of your letter request. Notwithstanding the response period noted above, it may be extended for an additional three months depending on the complexity of the request and the number of other pending requests. We may refuse to fulfill your request based on appropriate and relevant justification for that refusal.
8. WITHDRAWAL OF CONSENT AND RESTRICTION OF PROCESSING
8.1. If we have obtained consent from you to process your personal data, but we do not have a legitimate or legal basis to do otherwise, you have the right to withdraw the consent you previously provided at any time by sending an email to the address mentioned in the Introduction section. , specifies the consent you wish to withdraw. Withdrawing your consent will not affect the lawfulness of processing activities based on that consent prior to its withdrawal.
8.2. You also have the right to restrict us how we use your personal information, specifically:
- You contest the accuracy of your personal information.
- The processing is unlawful, and you object to such processing.
- We no longer need your personal data for the purposes of our processing, but we require such information for legal claims.
- You have objected to processing pending confirmation whether the data controller’s legitimate grounds override yours.
9. OBJECTION OF PROCESSING
9.1. You have the right to object to the processing of your personal data where it is lawful and carried out for our legitimate interests. If we process your personal data based on the consent you have provided, you have the right to withdraw this. Nevertheless, we may continue to process your personal data if we have another relevant legal basis, or if we have compelling grounds to continue processing your personal data.
10. DATA RETENTION AND DELETION
10.1. We will keep your personal information for as long as necessary to contact you or perform the contract between you and us, or for as long as we are legally obligated to do so (in some cases, our retention period may be longer due to regulatory obligations). Your personal information is automatically deleted when it is no longer needed.
10.2. To determine the appropriate storage period, we take into account the size, quantity, nature, and sensitivity of your personal data, the potential risks that may arise from unauthorized use or disclosure of your personal data, the purposes for which your personal data is processed and applicable laws (regulatory regulations) or other possible requirements.
10.3. You have the right to request the erasure of personal data that is no longer necessary, subject to some exceptions. General exclusions include legal (regulatory) obligations and/or defense against legal claims.
11. DATA TRANSFER
11.1. We will take all necessary and appropriate measures to ensure that your personal data, during transmission, maintains the same level of security and in accordance with the applicable laws and obligations.
Responsible gambling
We recognize that honesty and reliability are essential to achieving long-term success and are committed to adopting responsible business practices. Our business ethics embrace diversity of race, belief, culture, and gender to always respect and protect our employees. Fabulous operates with openness and transparency, aligning the interests of its teams and stakeholders in a mutually reinforcing relationship.
If you need help, visit www.begambleaware.org.
Prevention of criminal gambling activities
We are committed to proactive measures and product development to maintain safe and responsible forms of entertainment and to prevent gambling-related criminal activity. Our goal is to conduct our business in a fair and open manner, with a particular focus on protecting young people, children and vulnerable individuals to prevent gambling from becoming harmful or addictive.
Our products offer a variety of protection measures for responsible gambling, including:
- KYC, age and identity verification
- Set financial and time limits
- Self-exclusion and timeout control
- Reality check feature
Data Protection
Your customers and the personal and financial information they entrust to your business are of the utmost importance. Our products are designed to protect this data while prioritizing privacy and information protection to ensure safe and trustworthy business practices.
Regular audits for fair trade practices
Fabulous conducts annual audits to ensure that our products and services comply with the highest business standards. Our company has a zero-tolerance policy for bribery, corruption, money laundering, or unfair practices. This commitment ensures that you receive fair and transparent products that comprehensively address your legal business issues.
Fully compliant products and services
Our managers, decisions,x and policies undergo regular risk assessments to effectively address potential areas of concern. These practices ensure that our business and products comply with all applicable laws and regulations. Our software is only permitted for use within regulated jurisdictions and is provided only to operators who hold the relevant licenses and comply with the law. This software is designed to meet all regulatory and technical provisions.
If you would like further information about our safeguards and compliance, please feel free to contact us at [email protected]
KYC POLICY
Fabulous Ltd is a private limited company, incorporated under the laws of Anjouan, having company registration no. 15714 (“Fabulous Ltd” / “Company”), under the International Business Companies Act 004 of 2005 as an International Business Company limited by shares, with registered office at Hamchako, Mutsamadu, the Autonomous Island of Anjouan, Union of Comoros.
Fabulous Ltd is in the business of providing game platform solutions for corporations, and the general public and non-residents of the Autonomous Island of Anjouan.
Changes to this Policy
Under any subsequent amendments or any statutory modifications or re-enactments in the regulations and laws within the Union of Comoros, including THE COMPUTER GAMING LICENSING ACT 007 OF 2005 and ANJOUAN MONEY LAUNDERING (PREVENTION) ACT 008 OF 2005, KYC/AML and CFT guidelines from relevant organizations like FATF, the Company board is empowered to effect changes or amendments to this Policy and to other parameter(s) framed by the Board, subject to recommendation of the Risk and Compliance team.
DEFINITION
2.1. “Customer”, “Client” means:
2.1.1 an individual or entity engaged in a business relationship with the Company;
2.1.2 an individual utilizing services provided by the Company;
2.1.3. natural person for whom an account is maintained, known as the beneficial owner, defined as an individual(s), whether acting alone, collectively, or through one or more legal entities, exercising controlling ownership interest or control through other means. For identification purposes, controlling ownership interest entails ownership of or entitlement to more than 10 percent of the shares, capital, or profits of the Company or partnership firm.
any individual or entity associated with service transactions or activities that could pose significant reputational or other risks to the Company.
2.2. Client Due Diligence (CDD)” involves the identification and verification of the client (or beneficial owner, as applicable) using reliable and independent sources of identification.
a. Client identification, verification of identity using reliable and independent sources, and obtaining information on the purpose and intended nature of the business relationship, where applicable.
b. Taking reasonable steps to understand the nature of the client’s business, ownership, and control.
c. Determining whether a client is acting on behalf of a beneficial owner, identifying the beneficial owner, and undertaking all necessary steps to verify their identity using reliable and independent sources.
2.3. “Client identification” refers to the process of undertaking CDD.
2.4. “Digital Signature” holds the same meaning as defined as the electronic signature.
2.5. “Designated Director” is an individual appointed by the Board to ensure overall compliance with the company’s obligations.
2.6. “Money Laundering” carries the meaning ascribed under Comoran Law.
2.7. “Politically Exposed Persons” (PEPs) are individuals who hold or have held prominent public functions in a foreign country, including Heads of States/Governments, senior politicians, government or judicial or military officers, senior executives of state-owned corporations, and significant political party officials.
2.8. “Compliance Officer” refers to a management-level officer nominated by the Board, responsible for fulfilling obligations under Anjouan laws.
2.9. “Suspicious Transaction” includes a “transaction,” as defined below, or an attempted transaction, irrespective of the value involved, which, to a person acting in good faith:
– gives rise to a reasonable suspicion of involving proceeds of an offense;
– appears to be made in circumstances of unusual or unjustified complexity;
– appears to lack economic rationale or bona fide purpose; or
– gives rise to a reasonable suspicion of involving financing of terrorism-related activities.
2.10. “Transaction” encompasses:
A purchase, sale, loan, pledge, gift, transfer, delivery, or arrangement thereof, including deposits, withdrawals, exchanges, or transfers of funds in any currency, whether in cash, by check, payment order, or other instruments, or by electronic or non-physical means; any payment made or received in fulfillment of a contractual or legal obligation;
2.11. “Transaction” is defined as:
A purchase, sale, loan, pledge, gift, transfer, delivery or the arrangement thereof and includes deposits, withdrawal, exchange or transfer of funds in whatever currency, whether in cash or by cheque, payment order or other instruments or by electronic or other non-physical means; any payment made or received in whole or in part of any contractual or other legal obligation;
any payment made in respect of playing games of chance for cash or kind including such activities associated with casino; or establishing or creating a legal person or legal arrangement.
KYC REQUIREMENTS
3.1. Customer Acceptance Policy (“CAP”) is covered in Annexure 1.
3.2. Customer Identification Procedures (“CIP”) are given in Annexure 2.
3.3. CDD Procedures are provided in Annexure 3.
3.3.1. KYC Recording Procedure:
The Company will collect KYC data for storage in the KYC Register, following the KYC templates designated for ‘individuals’ and ‘Legal Entities’ as appropriate, and as periodically revised.
The Company will upload, or update KYC information related to individual customer accounts during scheduled updates or sooner upon receipt of updated KYC data from the customer.
Refer to Annexure 3 for a detailed CDD procedure.
3.4. Record Management is covered in Annexure 4.
3.5. Risk Management is covered in Annexure 5.
3.6. Enhanced Due Diligence (EDD) measures are covered in Annexure 6
3.7. Appointment of Principal Officer:
The Company will designate a Money Laundering Compliance Officer (MLCO), tasked with overseeing and reporting on all transactions and information-sharing obligations mandated by law. The MLCO will establish and maintain strong connections with law enforcement agencies, financial institutions, and any other relevant entities engaged in efforts to combat money laundering and terrorism financing.
3.8. Appointment of Designated Director:
The Company shall appoint a Designated Director in terms of the obligations under the applicable laws.
3.9. Ongoing Due Diligence:
The Company shall conduct continuous due diligence on customers to ensure that their transactions align with the Company’s understanding of the customers, their business activities, risk profile, and the source of funds, including cash or wealth.
The extent of transaction monitoring will be tailored according to the account’s risk profile. The Company will strive to comprehend the typical customer activity to identify transactions deviating from the norm. Special attention will be devoted to complex, unusually large transactions, and patterns devoid of apparent economic or lawful purpose. The Company will adhere to a management-approved standard operating procedure (SOP) to classify cases as High, Medium, or Low Risk.
Appropriate thresholds will be established based on customer risk categorization to ensure heightened monitoring. When reviewing alerts, attention will be directed toward the customer’s background, identity, financial status, business nature, origin country, fund sources, geographical risk, transaction types, products/services offered, and delivery channels.
To adhere to AML/CFT policies, the Company utilizes a client-provided database to screen new account opening applications against designated watch lists. Upon identifying a true match, besides preventing customer onboarding, the Company promptly reports to relevant authorities. Lists are periodically updated, and screening is also conducted during fresh loan disbursement for existing customers. Additionally, the Company will undertake necessary countermeasures when prompted by any international or intergovernmental organization recognized by the Central Government of Anjouan.
Periodic risk assessments are essential to identify, assess, and mitigate money laundering and terrorist financing risks concerning clients, countries, or geographic areas. However, such assessments will not be applicable to the Company, considering relevant risk factors and the overall risk level based on its products, services, transaction size, and delivery channels. The frequency of risk assessment will be determined by the Board or its delegated committee, reviewed at least annually.
The Company will adopt a Risk-Based Approach (RBA) for mitigating and managing identified risks, implementing a Customer Due Diligence (CDD) program tailored to the identified AML/CFT risks and business size. Moreover, the Company will monitor control implementation and enhance them as necessary during risk assessment reviews.
3.10. Reporting of Transactions:
Further, the Company shall be guided by MLCO advice for necessary actions to be taken, including additional measures (if any) for managing the ML/TF risk(s), for the reporting requirements and procedures based on applicable laws.
3.11. Training Program:
The Company will maintain an ongoing training program for its employees to ensure they possess adequate knowledge of KYC/AML procedures and stay abreast of evolving KYC/AML/CFT regulations both domestically and internationally.
Training initiatives will be tailored to the specific needs of frontline staff, compliance personnel, and individuals handling new customer interactions, ensuring comprehensive understanding and consistent implementation of KYC policies and norms.
3.12. Internal Control System:
The Company’s Internal Audit and Compliance functions will assess and ensure adherence to KYC policies and procedures. The compliance function will independently evaluate the Company’s policies, procedures, and compliance with legal and regulatory requirements. Management, overseen by Fabulous Ltd, ensures that internal auditors include KYC procedure review within their scope of work and maintain a proficient team. Internal Auditors will specifically examine and verify KYC procedure applications at branches, highlighting any observed deficiencies. Audit findings and compliance will be presented to the Audit Committee annually.
Furthermore, the Company will establish a rigorous screening mechanism as an integral part of its personnel recruitment process to prevent individuals with criminal backgrounds from accessing and potentially exploiting financial channels.
MLCO (Money Laundering Compliance Officer) after obtaining the due approval from the Board shall make the necessary amendments/modifications in this Policy or such other related guidance notes of the Company, to be in line with statutory authority’s requirements/updates/ amendments from time to time.
Annexure-1Customer Acceptance Policy
1. The Company shall ensure that:
1.1. No accounts shall be established under anonymous or fictitious/benami names.
1.2. No accounts shall be opened where the Company is unable to implement appropriate Customer Due Diligence (CDD) measures, either due to customer non-cooperation or the unreliability of documents/information provided by the customer. Should the Company encounter such circumstances, it shall consider filing a Suspicious Transaction Report (STR) as necessary.
1.3. No transactions or account-based relationships shall be initiated without adhering to the CDD procedure.
1.4. The mandatory information required for Know Your Customer (KYC) purposes during account opening and periodic updates shall conform to the specifications outlined in this Policy, subject to amendments or specifications made periodically.
1.5. Additional information, not explicitly outlined in this Policy, shall only be obtained with the explicit consent of the customer.
1.6. An appropriate system shall be established to ensure that customer identities do not match any individuals or entities listed in watch lists.
1.7. In cases where an equivalent electronic document is provided by the customer, the Company shall verify the digital signature with confirmation from a certificate or official document issued by the authority of the jurisdiction where the customer has resided for the past five years.
1.8. If the customer or beneficial owner is identified as a Politically Exposed Person (PEP), such status shall be promptly brought to the attention of the MLCO and Designated Director for their approval.
2. The Company undertakes that this customer acceptance policy shall not result in the denial of its services to clients who are members of the general public, especially those who are in the minority category.
3. Where the company forms a suspicion of money laundering or terrorist financing, and it reasonably believes that performing the ECDD (Enhanced Customer Due Diligence) process will tip-off the customer, it shall not pursue the ECDD process, but instead file an STR to the authority.
Annexure-2 Customer Identification Procedures (CIP)
Customer identification shall be undertaken at the time of commencement of an account-based/transaction-based relationship which includes identifying the Company’s customers, verifying their identities, obtaining information on the purpose and intended nature of the business relationship; and determining whether a client is acting on behalf of a beneficial owner, and identify the beneficial owner and take all steps to verify the identity of the beneficial owner.
1. The Company shall undertake the identification of customers in the following cases:
1.1. Commencement of an account-based/transaction-based relationship with the customer;
1.2. When there is doubt about the authenticity or adequacy of the customer identification data it has obtained;
– The Company shall obtain satisfactory evidence of customer identity based on perceived risks at the onset of the relationship or account opening. Such evidence shall be substantiated by reliable independent documents, data, information, or other means, including physical verification. Additionally, the Company may conduct seamless, secure, real-time, consent-based audio-visual interactions with customers to obtain identification information and verify the accuracy of provided information through reliable and independent sources of identification.
2. For conducting Customer Due Diligence (CDD), the Company shall undergo the KYC process and obtain documents and information (as specified in Annexure-3 CDD Procedures) from individual or corporate customers during the establishment of an account-based relationship or when dealing with individuals acting as beneficial owners, authorized signatories, or power of attorney holders for any legal entity.
3. Additional documentation may be obtained from the customers with higher risk perception as may be deemed fit. This shall be done having regard but not limited to location (registered office address, correspondence address, and other addresses as may be applicable), nature of business activity, and monitoring of transactions in the account:
For identification of the restricted countries, the company shall restrict its services to the customers with registered offices and/or residences in the following restricted countries:
Austria
Austria
France and its territories
Germany
Netherlands and its territories
Spain
Union of Comoros
United Kingdom
USA and its territories
Other countries that restrict the game of chance distribution.
All FATF Blacklisted countries, and any other jurisdictions deemed prohibited by Anjouan Offshore Financial Authority.
4. While undertaking customer identification, the Company will ensure that:
• Decision-making functions regarding compliance with KYC norms are not outsourced.
• Customers are not obligated to provide separate proof of address for permanent and current addresses if they differ. If the provided proof of address corresponds to the customer’s current residence, a declaration shall be obtained regarding their local address for correspondence. The local correspondence address, for which proof of address is unavailable, shall be verified through positive confirmation methods such as address verification letters, contact point verification, deliverables, etc.
• In case of a change in the address stated on the proof of address, fresh proof of address must be obtained within two (2) months.
• A Unique Customer Identification Code (UCIC) shall be assigned to customers upon the establishment of new relationships with the Company.
5. Periodic Update of KYC data
The company shall implement periodic updates, conducted at least once every two years for high-risk customers, once every eight years for medium-risk customers, and once every ten years for low-risk customers, commencing from the account opening date or the last KYC update, or when relevant documents expire. The following approach shall govern periodic updates:
• No Change in KYC Information: If there are no alterations in the KYC information, the customer shall provide a self-declaration through registered email, mobile number, digital platforms (such as mobile applications), or written correspondence.
• Address Change: In the event of a change solely in the customer’s address details, the customer shall provide a self-declaration of the new address via registered email, mobile number, digital platforms, or written correspondence. The declared address shall be verified through positive confirmation within two months.
Moreover, the Company shall ensure:
• Availability and Currency of KYC Documents: The customer’s KYC documents, compliant with prevailing Customer Due Diligence (CDD) standards, must be accessible and regularly updated, even if there are no changes in customer information. If the validity of existing CDD documents has expired during the periodic KYC update, the KYC process equivalent to that required for new customer onboarding shall be followed.
• Acknowledgment and Record Updates: Customers shall receive acknowledgment of document receipt, including self-declarations, for periodic update purposes. Furthermore, obtained information/documents during the periodic KYC update shall be promptly updated in records/databases, and customers shall be informed of the KYC details’ update date.
6. The Company shall notify Customers to adhere to the KYC policy in the event of any updates to the documents provided by the Customer during the establishment of the business relationship or account-based relationship. Subsequently, Customers shall furnish the updated documents to the Company within 30 (thirty) days of such updates, as required.
Annexure-3 Customer Due Diligence Procedures
A. Customer Due Diligence
For undertaking CDD, the Company shall obtain the following while establishing an account-based/transaction-based relationship or while dealing with the individual who is a beneficial owner, authorized signatory, or the power of attorney holder related to any legal entity:
Documents should be issued or certified within 2 months:
– A copy of the Government Issued Photo ID (in some cases front and back depending on the ID document) that shows name, signature, date of birth, and national identification number.
– Proof of Address
– Bank Statement
– Customer Application form
– Certificate of Good Standing
– Source of Wealth Declaration Form
– PEP form
– CV (when applicable)
– Live photo or a video of the customer with his identification document. (If necessary)
A1. The customer should be more than 18 years of age or the legal age of the concerned jurisdictions.
In the case of corporate clients, in addition to the above documents, they need to provide the basic company documents as follows:
– Certificate of Incorporation
– Memorandum of Association and/or Articles of Incorporation
– Certificate of Good Standing
– Shareholder Register
– Officer Register
– Proof of Address
B. Enhanced Due Diligence (“EDD”)
The Company may apply enhanced due diligence (EDD) measures for higher-risk customers. These measures may include:-
– Obtaining additional identification documents and financial information.
– Obtaining further information on the source of funds or source of wealth of the customer if the initial document provided in the initial stage of Customer Due Diligence seems insufficient.
– Conducting independent third-party verification of customer information.
– More frequent monitoring of customer activity.
– Reviewing generally available public information such as media reports to determine whether the client has been subject of any criminal or civil enforcement action based on violations of AML/CFT Law
For non-face-to-face customer onboarding:
If the Company shall undertake non-face-to-face onboarding of customers, this must be done through the use of digital channels such as equivalent e-document. The Company shall ensure that any and all transactions shall be permitted only from the mobile number and/or registered email used for account opening. The Company shall not link alternate mobile numbers. Any request for a change to the mobile number or email address must be sent from the registered point of communication.
C. On-going Customer Due Diligence (OCDD) – please refer to Section 3.9 of this KYC Policy – Ongoing Due Diligence.
Annexure-4 Record Management
1. The following steps shall be taken regarding the maintenance, preservation, and reporting of customer information, with reference to the provisions of the Company’s AML/CFT procedures.
2. The Company shall:
2.1. maintain all necessary records of transactions between the Company and the Customer including the walk-in customers, both domestic and international, for at least 10 (ten) years from the date of transaction.
2.2. the Company should ensure that the customer shall be provided with an option to give or deny consent for the use of specific data, restrict disclosure to third parties, data retention, revoke consent already granted to collect personal data and if required, make the app delete/ forget the data, as provided for in Digital Lending Guidelines issued by RBI.
2.3. preserve the records pertaining to the identification of the Customers and their addresses obtained while opening the account and during the course of the business relationship, for at least 5 (five) years after the business relationship is ended;
2.4. make available swiftly the identification records and Transaction data to the competent authorities upon request.
2.5. evolve a system for proper maintenance and preservation of account information in a manner that allows data to be retrieved easily and quickly whenever required or when requested by the competent authorities;
Annexure-5 Risk Management
1. Risk Management measures:
For Risk Management, the Company will have a risk-based approach which includes the following:
1.1. Customer risk shall be identified and categorized as low, medium, and high-risk categories, based on the assessment and risk perception of the Company mentioned in the AML/CFT Manual;
1.2. Risk categorization shall be undertaken based on parameters such as customer’s identity, social/financial status, nature of the business activity, information about the client’s business and their location geographical risk covering customers as well as transactions, type of products/services offered, types of transaction undertaken – cash, cheque/monetary instruments, wire transfers, forex transactions etc. While considering the customer’s identity, the ability to confirm identity documents through offline or other services offered by issuing authorities may also be factored in;
1.3. The risk categorization of a customer and the specific reasons for such categorization shall be kept confidential and shall not be revealed to the customer to avoid tipping off the customer; and
1.4. The various other information collected from Customers relating to the perceived risk, is non-intrusive.
2. Assessment of Risk Level
– After identifying potential risks, evaluate their severity and likelihood of occurrence. This helps prioritize mitigation efforts. Consider:
• Impact: How significant would the financial or reputational damage be if money laundering were to occur?
• Frequency: How likely is it that this specific risk will materialize?
• Controls: Do we have existing controls in place to mitigate the risk, and how effective are they?
3. Implement Mitigation Measures:
Based on the risk assessment, develop and implement appropriate mitigation measures. These may include:
– Enhanced Due Diligence (CDD): Applying stricter KYC procedures for high-risk customers or transactions.
– Transaction Monitoring: Implementing systems to identify suspicious activity patterns.
– Reporting: Establishing procedures for reporting suspected money laundering to the relevant authorities.
– Training: Regularly training employees on AML risks and procedures.
– Independent Testing: Conduct periodic audits or reviews of Fabulous Ltd AML controls.
Annexure-6 Enhanced Due Diligence (EDD) Measures
The Company may apply enhanced due diligence (EDD) measures for higher-risk customers.
1. Accounts of Politically Exposed Persons (PEPs)
Politically exposed persons are individuals who are or have been entrusted with prominent public functions in a foreign country, including Heads of State or of Governments, senior politicians, senior government/judicial/military officers, senior executives of state-owned corporations, important political party officials, etc.
1.1. Company shall have in place appropriate risk management systems to determine whether the customer is a PEP.
1.2. Company shall gather sufficient information about the sources of funds/wealth.
1.3. The decision to provide financial services to an account for PEP shall be taken at a senior level.
1.4. All such accounts are subjected to enhanced monitoring on an ongoing basis.
1.5. In the event of an existing customer or the beneficial owner of an existing account subsequently becoming a PEP, the continuance of the business relationship will be subject to Fabulous Ltd’ compliance team and the Managing Director’s approval.
1.6. The above norms shall also be applied to the accounts of the family members or close relatives of PEPs.
2. Accounts of non-face-to-face customers
2.1. In the case of non-face-to-face customers, apart from applying the usual customer identification procedures, there must be specific and adequate procedures to mitigate the higher risk.
2.2. Certification of all the documents presented may be insisted upon and, if necessary, additional documents may be called for.
2.3. In the case of cross-border customers, there is the additional difficulty of matching the customer with the documentation, the Company may have to rely on third-party certification/ introduction. In such cases, it must be ensured that the third party is a regulated and supervised entity and has adequate KYC systems in place.
Underage Gaming POLICY
Issued 20th May 2024
At Fabulous Ltd, we are committed to promoting responsible gambling and strictly enforcing age restrictions to ensure a safe gaming environment. As part of this commitment, we do not allow anyone under the legal age of 18 to participate in any gambling activities on our platform or our operators’ platforms. This policy aligns with our adherence to Know Your Customer (KYC) regulations and our dedication to preventing underage gambling.
1. Age Verification Procedures
To uphold our policy, we conduct thorough electronic age verification checks. Users are required to provide valid identification and other necessary documents to verify their age. In cases where electronic verification is insufficient, we may request additional proof of age.
This could include government-issued identification, birth certificates, or other official documents.
2. Consequences of Underage Gambling
If you are found to be under the age of 18, or under the legal age to gamble in your jurisdiction, the following actions will be taken:
- Confiscation of Winnings: All winnings accrued will be confiscated
- Notification of Authorities: We may contact the relevant authorities to report the breach of age restrictions.
- Account Suspension: Your account will be suspended, preventing further bets or
- Investigation: An investigation will be conducted to determine if you have been gambling as an agent for, or on behalf of, an underage person.
3. Specific Actions Taken Upon Confirmation
If it is confirmed that you:
- Are currently under the age of 18 or the legal gambling age in your country;
- Were under the age of 18 when placing any bets; or
- Have been betting on behalf of someone under the age of 18, the following measures will apply:
- Retention of Winnings: All winnings in your account will be
- Recovery of Winnings: Any winnings obtained while underage must be repaid to us on demand. Failure to comply will result in legal action to recover these amounts.
- Handling of Deposits: Any deposits in your account that are not winnings will either be returned to you or retained until you reach the age of 18, at our discretion.
Transaction fees may be deducted from the returned amount.
4. Jurisdictional Compliance
This policy also applies if you are over the age of 18 but are placing bets in a jurisdiction with a higher legal gambling age. If you are below the required age in such jurisdictions, you will be subject to the same penalties as outlined above.
5. Fraud Prevention and Legal Action
In cases where we suspect fraudulent activity or an attempt to circumvent this policy, we reserve the right to take any necessary actions. This includes conducting a thorough investigation and informing relevant law enforcement agencies to ensure compliance and prevent illegal activities.
6. Commitment to Responsible Gambling
Fabulous Ltd is dedicated to fostering a responsible gambling environment. We encourage parents and guardians to utilize available parental control tools to restrict access to our services by minors. Additionally, we provide resources and support for those who may need assistance with gambling-related issues.
For any questions or further clarification regarding our Underage Gambling Policy, please contact our customer support team. Your cooperation and understanding help us maintain a safe and fair gaming environment for everyone.
Self Exclusion Policy
At Fabulous Ltd, we are dedicated to promoting responsible gambling and providing a secure environment for our players. To support this commitment, we offer Self-Exclusion in our platforms and our operators’ platforms for individuals who wish to limit their gambling activities due to concerns about their gambling behavior.
1. Purpose of Self-Exclusion
Self-exclusion is a voluntary program that allows you to take a break from gambling activities on our platform for a specified period. It is a powerful tool to help you manage your gambling behavior and prevent potential gambling-related harm.
2. Overview
While most people find gambling to be a pleasurable and entertaining activity, it can have negative impacts for some. This policy outlines our approach to responsible gambling and aims to minimize harm to consumers who may be vulnerable to problem gambling.
3. Definitions
- What is Responsible Gambling?
Responsible Gambling ensures that gambling is conducted in a manner that minimizes potential harm. It acknowledges individual responsibility for actions while also recognizing the duty of service providers to promote safe practices.
- What is Problem Gambling?
Problem gambling occurs when a person loses control over their gambling, especially regarding the amount of money gambled and the time devoted to gambling.
4. Responsible Gambling Policy
We share responsibility with governments, communities, and individuals to help customers control their gambling and assist problem gamblers in identifying their issues and seeking help. We do this by:
- Allowing self-exclusion (temporary or permanent) from betting with
- Providing Responsible Gambling information and messages to our
- Training our staff about Responsible Gambling during induction and
- Referring customers affected by problem gambling to support
- Customer Care Principles
We strive to be a leader in providing a safe environment for our customers, encouraging responsible gambling practices, and offering tools to help customers maintain control over their gambling. Please see Responsible Gambling Policy for more details.
4.1. Our Responsible Gambling Policy aims to:
- Minimize gambling-related harm to individuals and the
- Enable customers to make informed decisions about their
- Provide timely and appropriate assistance to those adversely affected by
- Foster a shared understanding of responsible gambling practices among individuals, communities, the gambling industry, and the
- Ensure the gambling industry provides safe and supportive environments for delivering gambling products and services.
4.2. Protection of Minors
We are committed to protecting minors by preventing them from placing wagers on our betting platforms. Our services are intended for individuals who are at least 18 years old or the legal age of their jurisdiction.
4.3. Filtering Options
To prevent minors from accessing our betting platforms, we encourage the use of filtering software on devices that minors might access.
5. How to Initiate Self-Exclusion
To initiate self-exclusion, contact our customer support team via email or live chat. You will need to provide:
- Full name
- Username
- Email address registered with your account
- Desired duration of self-exclusion (options include 6 months, 1 year, 5 years, or permanently)
- Implementation of Self-Exclusion
5.1. Once your self-exclusion request is processed:
Account Lock:
Your account will be locked, preventing access for the duration of the self-exclusion period.
Marketing Exclusion:
You will be removed from all marketing databases to ensure you do not receive promotional materials during the self-exclusion period.
Funds Withdrawal:
Any remaining balance in your account will be returned to you, subject to verification procedures and any pending obligations.
Duration of Self-Exclusion:
Self-exclusion can be set for a month, 6 months up to 5 years, or permanently. There will be no variation of these periods. During this period, you will not be able to reopen your account or create a new one. Self-exclusion is irrevocable for the chosen duration.
6. Reactivation of Account
After the self-exclusion period ends, you may request to reactivate your account by contacting our customer support team. A 24-hour cooling-off period will be applied to ensure you still wish to proceed. Permanent self-exclusion cannot be revoked.
7. Third-Party Requests for Self-Exclusion
If you believe a friend or family member should consider self-exclusion, contact our customer support team. Although we cannot initiate self-exclusion on behalf of someone else without their consent, we can provide information and support on how they can initiate self-exclusion themselves.
8. Additional Help
If you need assistance, please contact our support team at [email protected] or through our live chat system, and one of our agents will provide information about relevant support organizations.
For more information or to initiate self-exclusion, please contact our customer support team at [email protected].