This policy sets out the anti-money laundering (AML) and know-your-customer (KYC) requirements that apply to all accounts registered with Kananaskis. The procedures are maintained in accordance with Canada’s federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act and applicable provincial gambling regulations. Compliance with this policy is a condition of access to account services.
1. Purpose and Scope
The platform operates under legal obligations to prevent money laundering, terrorist financing, and other financial crimes. This policy applies to every individual who registers an account, regardless of the frequency, size, or type of activity.
The procedures described in this document govern:
- Identity verification at registration
- Ongoing monitoring throughout the account relationship
- Enhanced checks triggered by specific transaction types or risk indicators
2. Minimum Age Requirement
Account registration is restricted to individuals who are at least 21 years of age. Age verification is conducted as part of the standard identity verification process. Accounts where age cannot be confirmed are not granted access to deposit or withdrawal functions.
3. Identity Verification - Standard Requirements
All accounts are subject to identity verification before deposit or withdrawal access is enabled. The following information must be provided and validated:
- Full legal name
- Date of birth
- Residential address
- Valid contact details
Supporting documentation may be required to confirm the above. Accepted document types include government-issued photo identification and proof of current address. The platform reserves the right to request additional documentation where initial verification is inconclusive or where the account presents elevated risk indicators.
4. Payment Method Verification
Where a withdrawal is requested, the platform may require confirmation that the payment method used belongs to the registered account holder. Documentation demonstrating ownership of the relevant payment instrument may be requested before a withdrawal is processed. Payments to third-party accounts are not permitted.
5. Enhanced Due Diligence
Certain circumstances require enhanced verification beyond the standard identity check. Enhanced due diligence applies in the following situations.
5.1 High-Value Transactions
Transactions of CAD 10,000 or more are subject to enhanced verification and reporting requirements. Where a single transaction, or a series of related transactions, reaches or exceeds this threshold within a 24-hour period, additional source-of-funds verification is conducted before the transaction is processed or recorded.
5.2 Politically Exposed Persons
Where an account holder is identified as a politically exposed person (PEP), or is closely associated with one, enhanced due diligence is applied. This includes additional screening, source-of-funds assessment, and senior-level approval before account services are extended or continued.
5.3 Sanctions and Adverse Media Screening
All accounts are screened against applicable sanctions lists. Adverse media checks may also be conducted where risk indicators are present. Accounts linked to sanctioned individuals or entities are suspended and reported to the relevant authority.
6. Ongoing Monitoring
Verification is not limited to the point of registration. The platform conducts ongoing monitoring of account activity throughout the account relationship. This may include review of:
- Transaction patterns
- Consistency of source of funds with the account profile
- Changes to account information
Where monitoring identifies activity that is inconsistent with the account profile or with expected behaviour, additional verification may be requested. Account access may be restricted pending review.
7. Suspicious Transaction Reporting
The platform maintains internal procedures for identifying and reporting suspicious transactions to FINTRAC, Canada’s financial intelligence authority. Indicators that may trigger a suspicious transaction report include, but are not limited to:
- Structuring of transactions to remain below reporting thresholds
- Use of multiple payment methods without clear explanation
- Requests to transfer funds to or from unrelated third parties
The platform is legally prohibited from disclosing to an account holder that a suspicious transaction report has been filed in relation to their account.
8. Recordkeeping
Verification records, transaction records, and related documentation are retained for a minimum of five years following account closure. This retention period applies regardless of the reason for closure and is maintained in compliance with applicable federal recordkeeping requirements.
9. Account Restrictions and Closure
The platform reserves the right to restrict or close an account where:
- The account holder fails to provide requested verification documentation within the specified timeframe
- Submitted documentation cannot be authenticated
- The account is linked to suspicious activity under review
- The account holder is identified on a sanctions list or as a prohibited player under applicable regulation
Where an account is restricted pending verification, access to deposit and withdrawal functions is suspended until the review is complete. The platform informs the account holder of the nature of the restriction and the documentation required to resolve it, except where disclosure is prohibited by law.
10. Account Holder Obligations
By registering an account, the account holder confirms that:
- All information provided at registration and throughout the account relationship is accurate and complete
- Any changes to personal information, address, or contact details will be reported promptly
- Documentation requested as part of verification procedures will be provided within the timeframe specified
- The account is used solely by the registered account holder and not on behalf of any third party
Providing false or misleading information in connection with identity verification may result in permanent account closure and referral to the relevant authority.
11. Contact for Compliance Queries
Questions relating to this policy or to the status of a verification request should be directed to the Kananaskis compliance team through the contact method listed on the account support page. Verification documents are not accepted through unofficial channels.
This policy is reviewed periodically to reflect changes in applicable legislation and regulatory guidance. The version published on this page represents the current requirements applicable to all Kananaskis accounts.