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FICA The Financial Intelligence Centre Act, 38 of 2001 (herein referred to as FICA. (click to expand)
Customer Verification and Due Diligence
Please note Bookmakers and totalisators are listed as accountable institutions under item 9 of Schedule 1 of the FIC Act.
Playbet and its subsidiaries must therefore comply with the relevant provisions of the FIC Act and the Money Laundering and Terrorist Financing Control Regulations (the Regulations).
The establishment of online betting account by a prospective client with Playbet is considered to be the establishment of a business relationship between that client and Playbet.
Therefore, in relationship with all online betting a client’s identity must be established and verified in the course of conducting a single transaction or entering into a business relationship.
This means that Playbet may initiate the process related to the conclusion of a single transaction or entering into a business relationship while it is verifying the relevant persons’ identities, but Playbet must complete the verification before concluding a transaction in the course of the resultant business relationship or performs any act to give to the resultant single transaction.
Accordingly, you are requested to provide documentary evidence of your identity and residence upon opening or establishing a business relationship with Playbet or before requesting any payout.
To establish and verify the identity of the client, the following are regarded as acceptable Identity documents:
i) An original RSA identity document book or smart card or;
ii) South African Valid Passport or;
iii) South African driver’s license (card format) and;
Identity documents for foreign nationals i) Valid passport showing the client is legally in the republic.
ii) Valid refugee/asylum certificate
Accepted proof of address i) A utility bill or bank statement showing the client’s name and physical address (please note not older than 3 months) or;
ii) Lease agreement
iii) Bond statement
iv) Official tax return
v) Letter from the traditional authority, the letter must confirm that the individual is permitted to reside on communal land, and must be signed and stamped by the traditional authority
In the event a client fails to comply with the FICA provisions then Playbet shall be prohibited from paying any credit balance in the customer’s account.