BIT555.IO is operated by BlockDance B.V. (Commercial register of Curaçao no.158182, Emancipatie Boulevard Dominico F. "Don" Martina 31, Curaçao) under a sublicense CIL pursuant to Master gaming License #5536/JAZ.Company Policy Statement. BlockDance B.V. falls within the scope of the AML obligations according to Curacao legislations. Therefore, the senior management has implemented systems and procedures that meet the standards set forth by relevant AML legislation in Curacao.
Money Laundering: The process of making illegally gained proceeds appear legal. This process is generally broken down into three steps: placement, layering, and integration. Placement: The process of placing unlawful proceeds into traditional financial institutions, through deposits or other avenues. Layering: The process of separating proceeds of criminal activity from their origin by layers of complex financial transactions, such as converting cash into traveler’s checks, money orders, wire transfers, letters of credit, stocks, bonds, or purchasing assets. Integration: Using legitimate transactions to disguise the illicit proceeds, allowing the laundered funds to be distributed back to the criminal; integrating the now clean money back into normal use.
BlockDance B.V. is aware that offering services related to online gaming pose a risk for money laundering and terrorist financing. To identify, prevent, and limit the risks of money laundering and terrorist financing. BlockDance B.V. implemented measures, processes, and internal controls into its daily business operations, which consider the nature of the BlockDance B.V.’s clients and services carried out by BlockDance B.V. With these measures, processes, and internal controls in place BlockDance B.V. meets all legal requirements related to measures preventing money laundering and terrorist financing, as required by applicable Curacao legislations. BlockDance B.V. has prepared AML Policy regarding the prevention of money laundering to prove its commitment for detection, prevention, and reporting to national authorities of all attempts of using BlockDance B.V.’s services for any kind of transaction which would meet the statutory definition of money laundering and/or terrorist financing, or which presents any other form of illegal financial transactions. AML Policy is modified and upgraded by changing legislation and good practice in the industry. The content of the AML Policy covers: