Anti Money Laundering Policy
In accordance with strict financial rules and regulations, BentBox by Haas & Reed B.V. (BentBox) collects and verifies the personal identification data of all our account holders selling content.
BentBox logs and tracks all the transactions that are carried out by our clients.
In order to open a seller account you must provide a valid form of government issued identification. The ID you provide must comprise of a primary form of Photo ID which includes a valid government issued document showing your full name and date of birth and a photo of you holding the ID next to your face for confirmation of identity.
Payments will be issued only to accounts whose owner's name is a unique match with the bank account submitted for the PayOut deposits.
Account Opening Document Requirements
In accordance with Anti-Money Laundering policies we are required to verify your identity prior to sending you any payments.
The verification process requires to verify your identity by submitting one of the following Photo IDs.
- A valid Passport
- A valid Government ID, such as a Driver's License or State ID
- A valid National Identity Card
The Photo ID must show full name and date of birth.
PayOut Payment Procedures
The PayOuts process at BentBox detailed below is structured around strict guidelines to make sure that funds are securely sent to their original content producer and beneficiary.
- BentBox sellers must complete a PayOut settings form containing their correct account information.
- All PayOuts forms are submitted to BentBox accounts department for processing. Our Accounts department confirms the account balance, verifies that there are no holds or payment restrictions on the account, and then approves the PayOut payment, pending compliance approval.
- BentBox Accounts department reviews all PayOuts requests, verifying the funds are paid via the same method of deposit and to the account holder on file. Our accounts department examines the PayOut request against the customer's deposit history to make sure there is no suspicious activity, and verifies the bank account on file.
- Approved PayOuts are processed by the accounts department and the funds are released to the content seller.
- In the event that a pending PayOut is flagged for suspicious activity, the PayOut is placed on hold, pending further investigation by BentBox management staff.
- BentBox management will work with our Compliance department to see if further action needed and if any relevant regulatory bodies need to be contacted.
AML Policy Details
- BentBox doesn't disburse cash under any circumstances.
- BentBox matches each deposit to the account name on file for that customer.
- BentBox reserves the right to refuse processing a PayOut at any stage where it believes the payment to be connected in any way to money laundering or criminal activity. In accordance with international law, BentBox is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.
Sanctioned Countries
While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit BentBox from opening accounts originated from the following restricted and/or OFAC sanctioned countries:
- Afghanistan
- Angola
- Antigua and Barbuda
- Bolivia
- Botswana
- Burma (Myanmar)
- Cambodia
- Conakry
- Cote d'Ivoire (Ivory Coast)
- Cuba
- Democratic Republic of Congo
- Gambia
- Ghana
- Guinea
- Guinea Bissau
- Iran
- Iraq
- Kyrgyzstan
- Lesotho
- Liberia
- Libya
- Mali
- Namibia
- Niger. Former Liberian Regime of Charles Taylor
- North Korea
- Senegal
- Sierra Leone
- Syria
- Tanzania
- Togo
- Yemen
- Zimbabwe
Feel free to get in touch by sending us an email at info@bentbox.co