AML/KYC Policy
OzLuckyDraw Pty Ltd is committed to preventing money laundering, terrorism financing, and other financial crimes. This policy is designed to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) ("AML/CTF Act") and relevant AUSTRAC rules and guidance.
1. Purpose
This policy outlines our procedures for:
- Verifying the identity of customers (Know Your Customer)
- Monitoring transactions for suspicious activity
- Reporting suspicious matters to AUSTRAC
- Record-keeping and compliance obligations
2. Customer Identification (KYC)
We are required to verify your identity before you can:
- Withdraw funds from your Account
- Process transactions exceeding $1,000 AUD (cumulative or single)
- Complete any transaction flagged by our monitoring systems
Acceptable identification documents include:
- Australian driver's licence (current)
- Australian passport (current or expired within 2 years)
- Proof of age card issued by an Australian state or territory
- ImmiCard or foreign passport with valid Australian visa
We may also require proof of address (e.g., utility bill or bank statement dated within the last 3 months) and source of funds documentation for larger transactions.
3. Enhanced Due Diligence
Enhanced due diligence measures apply to:
- Politically Exposed Persons (PEPs) and their associates
- Customers from higher-risk jurisdictions
- Transactions that are unusually large, complex, or have no apparent lawful purpose
- Customers whose activity patterns change significantly
4. Transaction Monitoring
We employ automated and manual monitoring systems to detect:
- Unusual patterns of deposits or withdrawals
- Structuring of transactions to avoid reporting thresholds
- Deposits from multiple unrelated payment sources
- Rapid movement of funds with minimal gambling activity
- Activity inconsistent with a customer's known profile
5. Suspicious Matter Reporting
Where we form a reasonable suspicion that a transaction or activity may be related to money laundering, terrorism financing, or other criminal conduct, we are legally obligated to submit a Suspicious Matter Report (SMR) to AUSTRAC. We are prohibited from informing you ("tipping off") if a report has been made.
6. Record Keeping
In accordance with the AML/CTF Act, we retain:
- Customer identification records for at least 7 years after the relationship ends
- Transaction records for at least 7 years after the transaction
- Copies of all reports submitted to AUSTRAC
7. Staff Training
All employees receive AML/CTF training upon commencement and annual refresher training. Training covers customer identification, transaction monitoring, recognising suspicious activity, and reporting obligations.
8. Non-Compliance
Failure to comply with our KYC requirements may result in:
- Account suspension or closure
- Withholding of withdrawals pending verification
- Reporting to relevant authorities
9. Contact
For KYC verification queries: compliance@ozluckydraw.com.au
AML/CTF Compliance Officer
OzLuckyDraw Pty Ltd
Level 12, 100 George Street, Sydney NSW 2000