Know Your Client Policy of Momo Entertainment BV
When a user makes an aggregate lifetime total of deposits exceeding €2,000 or requests a withdrawal ofany amount inside the Momo Entertainment platform, then it is compulsory for them to perform a full Know Your Client (the “KYC”) process.
During this process, the user will have to input some basic details about themselves and then upload
- A copy of Government Issued Photo ID or passport or driver’s license (in some cases front andback depending on the document)
- A selfie of themselves holding the ID document
- A bank statement/Utility Bill
- A confirmation of Payment Method
Once uploaded, the user will get a “Temporarily Approved” Status and the documents will now be on our side, and the “KYC Team” will have 24 hours to go over the provided documents and email the user aboutthe outcome:
- Approval
- Rejection
- More information needed – No change in Status
When the user is on “Temporarily Approved” Status then
- They can use the platform normally
- They cannot deposit more than €500 in aggregate total
- They cannot complete any withdrawal.
Guideline for the "KYC Process"
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Proof of ID
- Signature Is there.
- Country is not a Restricted Country: Australia and its territories, Cyprus, France and its territories, Netherlands and its territories and countries that form the Kingdom of Netherlands including Aruba, Bonaire, Curaçao, Saba, Sint Eustatius and Sint Maarten, Singapore, Spain,
United Kingdom of Great Britain and Northern Ireland, United States of America and its territories.
- Full Name matches client’s name.
- Document does not expire in the next 3 months.
- Owner is over 18 years of age.
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Proof of Residence
- Bank Statement or Utility Bill.
- Country is not a Restricted Country: Australia and its territories, Cyprus, France andits territories, Netherlands and its territories and countries that form the Kingdom of Netherlands including Aruba, Bonaire, Curaçao, Saba, Sint Eustatius and Sint Maarten, Singapore, Spain,
United Kingdom of Great Britain and Northern Ireland, United States of America and its territories.
- Full Name matches client’s name and is same as in proof of ID.
- Date of Issue: In the last 3 months.
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Selfie with ID
- Holder is the same as in the ID document above.
- ID document is the same as in “1”. Make sure photo/ID number is the same.
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Confirmation of Payment Method
- Bank Transfer: Bank statement including the client’s name and address and match thedetails of the account.
- Credit Card: Front and back images of the credit card, showing the first and last 4digits of the card, and covering the 8 middle digits and the CVV number.
- E-Wallet: statement or a screenshot of the E-Wallet account including the client’sname and address matching the details of the account.
Notes on the "KYC Process"
- When the KYC process is unsuccessful then the reason is documented, and a support ticket is created in the system. The ticket number along with an explanation is communicated back to theuser.
- The client has 30 daysto complete the KYC process once the total deposits exceed €2,000 orfrom the time of withdrawal request.
- Once all proper documents are in our possession then the account gets approved.
"Other AML measures"
- If a user has not passed full KYC then they cannot make additional deposits or withdrawals ofany amount.
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If a user has passed the KYC process successfully then
- There is a deposit limit pertransaction (max €2,000)
- Prior to any withdrawal there is a detailed algorithmic and manual check on the activity and balance of the user to see if the amount withdrawn is a result of proper activity in theplatform.
- Under no circumstances may a user transfer funds directly to another user.