This policy (Policy) sets out the “know-your-client” (KYC) (commonly also known as customer due diligence) and anti-money laundering requirements that Soccer Labs Holdings Ltd and each of its group companies from time to time (we, us or our) applies to all users who wish to purchase, earn or sell our Soccerverse Coin (SVC), “Influence” or other tokens issued, minted or otherwise distributed or made available by us from time to time (Tokens) or to use future products and services we may make available which require KYC checks to be conducted (our Services) (however determined by us from time to time) (Users or you). This Policy supplements the Soccerverse Token Terms and Conditions (the Token Terms).
- General
In order to access and use our Services, you must provide to us (and/or to our agents, representatives, nominees or service providers duly appointed for the purpose of conducting KYC checks) (KYC Partners) the required KYC information (as determined by us) and to a standard which is satisfactory to us. Failure to provide the required KYC information to our satisfaction will result in a User being unable to access and use the Services. We have retained the services of KYC Partners to collate and assess the required KYC information, and such KYC Partners may have requirements in excess of the requirements listed within this Policy in order to approve the access and use of the Services by a User.We are committed to:(i) monitoring and ensuring that our Services are not accessed or used in association with, to assist with or to commit any form of money laundering, terrorist financing, proliferation financing, evasion of sanctions or otherwise to facilitate criminal activity; and(ii) complying with all relevant and applicable anti-money laundering, proliferation financing and terrorist financing laws, rules and regulations and guidance in force from time to time.
This Policy reflects our risk-based approach and, in particular, incorporates the relevant requirements of applicable legislation in the British Virgin Islands, including but not limited to, the Proceeds of Criminal Conduct Act (as amended), the Anti-Money Laundering Regulations (as amended), the Anti-Money Laundering and Terrorist Financing Code of Practice, the Counter-Terrorism Act (as amended), the Drugs Trafficking Offenses Act (as amended), the Drugs (Prevention of Misuse) Act, the Proliferation Financing (Prohibition) Acts (as amended), the Anti-Terrorism (Financial and Other Measures) Overseas Territories Order, The Terrorism (United Nations Measures) (Overseas Territories Order) and the Terrorist Asset-Freezing etc. Act 2010 (Overseas Territories Order).
All references to statutes in this Policy are deemed to be references to that statute as in force from time to time (including all subordinate legislation, rules and instruments), and including any statute enacted to replace such statute.
All copies of documents provided to us or our KYC Partners pursuant to this Policy must be valid, current, clear and legible. Where a document is in a foreign language, it must be translated into English by a suitably qualified translator. The translator should sign the document to confirm the accuracy of the translation and their credentials.
We and our KYC Partners may carry out checks through risk databases, analysis, tracing and similar services. The results of such checks must be to our satisfaction (and/or to the satisfaction of our KYC Partner(s)) in order for your obligations under this Policy to be satisfied and for you to be able to access and use our Services.
We will take a risk-based approach (in our discretion) in determining what identification and verification documents must be provided to us. Our requirements may change or be supplemented from time to time based on our risk-based approach and we may request additional or refreshed documents from you at any time.
- Required KYC Documents for UsersWe will require a User to provide KYC documents (as detailed below in this section) if that User makes (or attempts to make) a transaction or series of linked transactions for an aggregate value exceeding US$10,000. We may change this limit at any time in our discretion.
Such Users will be required to submit documents to us (and/or our KYC Partners) for verification prior to being permitted to complete such transaction and to maintain access to our Services. The type of documents requested will depend on the type of User and will be in our complete discretion (and, in the discretion of our KYC Partners, as applicable) but, typically, will follow the guidelines below.
Users from certain jurisdictions (the identity of such jurisdictions being in our complete discretion), may be required to provide a completed and executed representation letter, certifying that they are an ‘accredited investor’ or a similar status under relevant legal or regulatory regimes – the financial limit set out above does not apply to this requirement and we may request such document(s) at any time.Individuals
Individuals will be required to provide the following information:
i. a colour copy of the individual’s passport, driving licence, national identity document or other government-issued and photo-bearing identity document;
ii. documentary evidence of the individuals’ permanent residential address (such as a bank or credit card statement or utility bill (but not a mobile phone bill)), which must be dated within the last three months. Note, where a P.O. box forms part of such address, the complete address must be evidenced;
iii. details of their email address and telephone number; and
iv. in certain cases, verification of their source of funds (whether in fiat or in crypto) used to purchase Tokens or use our Services. For example, but not limited to, payslips, bank statements, tax declarations, etc.
Companies (or equivalent)
Companies (or equivalent entities) will be required to provide the following information:
i. a copy of the entity’s certificate of incorporation or equivalent formation document (including any change of name certificate (if applicable));
ii. a copy of the memorandum and articles of association or by-laws of the entity or its equivalent governing constitutional document(s);
iii. if not satisfactorily apparent to us, evidence of the individual’s authority to enter into the business relationship on behalf of the entity;
iv. where the entity is regulated, details of the regulatory regime, regulator and, if applicable, authorisation/registration number;
v. a copy of the register of directors and officers or its equivalent and evidence of the identity of at least two such directors (or equivalent persons) (or one, where there is a sole director or equivalent only);
vi. a description of the entity’s activities and, in certain cases, verification of the source of funds (whether in fiat or crypto) used to purchase Tokens or otherwise use our Services;
vii. confirmation of the underlying beneficial owner(s) of the entity who owns, controls or is otherwise entitled to, directly or indirectly, (i) at least 10% of the shares and/or voting power (or equivalent) in the entity and/or (ii) otherwise exercises significant influence over the management of the entity (UBO); and
viii. evidence to our satisfaction of the identity of the UBO(s) of the entity (to be provided in accordance with the KYC documents required for ‘individuals’ as set out above). In this case, satisfactory evidence of the UBO(s) may consist of a certified copy of the register of members of the entity or an equivalent document.
Partnerships and unincorporated entities
Partnerships and unincorporated entities will be required to provide the following information:i. a copy of the certificate of registration, where registered, and the partnership agreement or other constitutional documents or agreements;
ii. if not satisfactorily apparent to us, evidence of the individual’s authority to enter into the business relationship on behalf of the partnership or unincorporated entity;
iii. a description of the partnership’s or entity’s activities and, in certain cases, verification of the source of funds (whether in fiat or crypto) used to purchase Tokens or otherwise use our Services;
iv. confirmation of the UBO(s) of the entity (as defined above); and
v. evidence to our satisfaction of the identity of the UBO(s) and the general partner (or equivalent) of the partnership or entity (to be provided in accordance with the KYC documents required for ‘individuals’ as set out above).
Trusts
Trustees acting on behalf of a trust will be required to provide the following information:
i. confirmation of the type of trust, the nature and place of the activities of the trust and, in certain cases, verification of the source of funds used to acquire cryptocurrencies deposited in the wallet;
ii. evidence to our satisfaction of the identity of each settlor, trustee or protector of the trust (to be provided in accordance with the KYC documents required for ‘individuals’ as set out above);
iii. where we consider or determine (in our complete discretion) that the trust presents other than a low level of risk, evidence to our satisfaction of the identity of the beneficiaries of such trust (to be provided in accordance with the KYC documents required for ‘individuals’ as set out above);
iv. if not satisfactorily apparent to us, evidence of the trustee’s authority to enter into the business relationship on behalf of the trust; and
v. if the trustee is a corporate entity, the requirements set out above for ‘Companies’ will also apply.
Certification
We or our KYC Partners may require any document provided to us to be certified based on our risk-based approach. This may because we have reason to consider that a document may not be authentic or for any other reason (in our complete discretion).
Certification of a document should be carried out by a person acting in their professional capacity and who is subject to some rules of professional rules of conduct enforced by a professional body (i.e. a legal practitioner, senior public officer, medical practitioner, accountant, director of a licensed entity or notary) and shall bear the date and the name, address and signature of the person certifying the document.
- Updates to informationIt is important that any personal information held by us or our KYC Partners about Users is accurate and current. Where the information provided to us or our KYC Partners pursuant to this Policy becomes out-dated between the date provided and the date on which you cease accessing or using our Services, or the information you provided to us otherwise is incorrect, you agree to notify us as soon as possible and provide updated or corrected information.
We reserve the right to refresh the information held on a User or require additional information (in our complete discretion) prior to the first use or continuing of our Services and/or prior to a specific transaction.
- Standards of due diligenceSimplified due diligence
We may (in our complete discretion) choose to apply ‘simplified due diligence’ (as determined by us) to any User unless: (i) we or any person dealing with the User on our behalf knows or suspects that the User’s access to or use of the Services involves money laundering or any other criminal activity; or (ii) we otherwise deem the User to be of higher risk.
We may also (in our complete discretion) choose to waive certain KYC requirements for any Users where we consider it is appropriate and in compliance with applicable laws and regulations. Any such waivers will be in our complete discretion. A waiver in one instance does not require or commit us to waive KYC requirements in any other instance (whether in respect of the same person and/or the same or similar matters).
Enhanced due diligence
We may (in our complete discretion) apply enhanced KYC requirements where we consider it necessary or desirable to do so in line with our risk-based approach. In particular, such enhanced due diligence may be required where a User is identified as:
i. an individual who is or has been entrusted with prominent public functions, or any member of his or her immediate family or any persons who are known to be close associates of any such individuals are or have been entrusted with prominent public functions (being ‘politically exposed persons’); and/or
ii. involved in a business activity, or having an ownership structure, or purchasing, depositing or withdrawing such volume of Tokens or cryptocurrencies, in each case that is complex or unusual, having regard to the risk profile of that User, or where the User exhibits an unusual pattern of transactions or does not demonstrate any apparent or visible economic or lawful purpose; and/or
iii. located in a country or jurisdiction that is either considered or identified as high-risk (see below) or that has Sanctions (defined below), embargoes or other similar restrictions imposed on it.
We and our KYC Partners are entitled to require additional verification, which may include: (i) video verification; (ii) contacting you by telephone at a business line or verified residential line; (iii) requiring reference letters or other additional documents; (iv) confirming residential address through a pick-up of any application form via courier from such address; and/or (v) requiring a face-to-face meeting.
Such enhancements, including the frequency of ongoing monitoring, are in our complete discretion. Where we are unable to complete simplified or enhanced due diligence at any time to our satisfaction, we may decide to terminate, suspend or limit (in our complete discretion) a User’s access to our Services.
High risk countries mean countries or geographic areas which are:
i. subject to Sanctions (as defined below), embargoes or similar measures or have otherwise been identified by regulatory bodies to which we are subject as being high risk; and/or
ii. identified as providing funding or support for terrorist activities or that have designated terrorist organisations operating within them; and/or
iii. identified as having significant levels of organised crime, corruption or other criminal activity, (which may include source or transit countries for illegal drugs, human trafficking, smuggling and illegal gambling); and/or
iv. identified as having weak governance, law enforcement and/or regulatory regimes (including countries identified by the Financial Action Task Force (FATF) statements as having weak anti-money laundering and/or counter terrorist financing regimes).
We and our KYC Partners may consult publicly available information (such as websites and information provided by FATF, the Financial Crimes Enforcement Network, Office of Foreign Assets Control (OFAC) and Transparency International) to determine whether countries or territories are high-risk countries or territories. While assessing the risk of a country or territory, we and our KYC Partners may also consider other sources, including sanctions issued by the United Nations (UN), the United Kingdom, the European Union, the FATF high risk and non-cooperative jurisdictions, the FATF and its regional style bodies (FSRBs), such as MoneyVal mutual evaluation reports, and the Transparency International corruption perception index.
Electronic and Digital Verification and Data Protection
We and our KYC Partners may use electronic or digital means as we consider appropriate to carry out verification.
We will process all KYC information (including personal data) collected by us in accordance with applicable laws, including the British Virgin Islands’ Data Protection Act, 2021 (DPA) and will maintain in place adequate procedures, policies and measure to protect personal data. We will require our KYC Partners to comply with all applicable laws (including the DPA) and have in place adequate procedures, policies and measure to protect personal data.
- Jurisdictional and Sanction RestrictionsUsers are obliged to represent and warrant to us that they are not Restricted Persons. Our Services are not offered to any Restricted Persons and Restricted Persons are strictly prohibited from accessing or using our Services.
The terms Restricted Persons, Restricted Jurisdiction, Sanctions and U.S. Entity have the meaning given in the Token Terms.
- Contact us
If you would like to contact us regarding this Policy, please send an email to [email protected]. To ensure your query is dealt with as swiftly as possible, please include as the subject or heading line “KYC Policy – Requirements for Users”. - Privacy NoticeAny information collected by us pursuant to this Policy will be retained in accordance with the Soccerverse Privacy Policy, as may be updated from time to time.
- Other services
This Policy applies to access to and use of our current Services. We may offer new services in the future. Additional KYC checks may be required to participate in or use any new products or services offered by us and your ability to participate in or use any new products or services may be subject to you providing additional documents or assurances to us and/or our KYC Partners. We may introduce different KYC policies in respect of different products and services – in that event, we will notify you of the relevant KYC policy or policies which apply to you as a User. - Right to refuse, terminate or suspendWe reserve the right to refuse, terminate, suspend or limit access to or use of any of our Services at any time (in our complete discretion and without providing any reason), whether in connection with any non-compliance with this Policy or the applicable terms of use (or otherwise).
- Obligations to report
We are under an obligation, pursuant to applicable laws and regulations, to report to the relevant authorities any transactions where we know, or suspect, or have reasonable grounds for knowing or suspecting, that another person is engaged in money laundering, terrorist financing or other criminal activity. This applies to information about our Users and their use of our Services. - Changes to this Policy
We will regularly review the provisions and effectiveness of this Policy and compliance with it.We may update this Policy from time to time and will make available updated versions to you via email, or our website or by other means, and we encourage users to periodically review this Policy.
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