KYC is used by all reputable online casinos to protect their consumers and their interests. Know Your Customer, or KYC, is a guideline that participants must adhere to in order to verify their identity and financial information. The purpose of this procedure is to eliminate any potential financial risks associated with casinos.
Corruption, money laundering, and fraud are all possibilities. When a gambler strikes it rich and wins large sums of money, he must cash out his profits. The casino requires the KYC, or the winner’s personal documentation, before the withdrawal is accepted. Following the submission of personal documents, the web-based casino will be able to determine the player’s identity as well as the source of his funds.
The casino can track the activity of its customers using this information. Only certified casinos are authorized to seek documentation from their customers, ensuring the players’ safety and security.
What is the KYC (Know Your Customer) procedure at online casinos?
You may inquire about the following steps after receiving an email from the casino’s cashier team requesting the papers. These documents include a copy of your ID card or others with your pictures, the front and back of your credit card, and phone bills showing your name and address, as specified above. The images must be very clear, and the paperwork must be completely legible.
Send them to the cashier staff through mail. You must wait 72 hours once the team receives your paperwork. You can withdraw your profits once your account has been legalized. If the casino is unable to verify your documents within this time frame, you will be requested to send another verified proof.
By agreeing to the Terms, you authorize us to conduct whatever verification checks we or third parties (including regulatory agencies) deem necessary to authenticate your identity and contact information (the “Checks”).
We may prevent you from withdrawing funds from Your Account while we conduct these checks.
In addition to any other action we may choose to take, we reserve the right to terminate your account and/or prevent you from using the services if any information you have supplied is incorrect, inaccurate, misleading, does not match your ID, or is otherwise incomplete.
We may suspend Your Account if we are unable to verify that you are of legal age. If it is proven that you were under the age of legal gambling or gaming transactions at the time, then:
Your account will be deactivated.
All transactions made during that time will be void, and any cash you have deposited will be returned in full;
Any winnings you may have accumulated during that period will be forfeited, and you will be required to return all cash withdrawn from Your Account to us. In the case that your personal information changes, you must notify us by contacting Support.
You must notify us of any changes to your personal information by contacting the support service.
The Policy’s Objective:
In the following circumstances, the Company will seek verification of the user of its Services:
Suspicion of fraud, money laundering, or criminal behavior, among other things;
There are concerns concerning the legitimacy of the documents supplied;
Violation of the Company’s terms and conditions for using its services;
Any other circumstance that the Company deems acceptable.
The Company may seek a standard set of identity data and documents, as well as supplementary documents, in response to such request.
The following is a list of the bare minimum of identity information:
- complete name
- date of birth
- citizenship
- permanent residential address
- a code of identification
The following documents are required:
- client’s actual passport / ID card;
- document attesting to the client’s permanent dwelling address at the time (utility bill, statement of the status of the bank account, etc.)
There are also the following documents:
- a second national identification card (driver’s license, military identification, etc. );
- photographs of a user on a background of his face with an open passport (the document should be readable) Front side photo of bank card (5 first and 4 last digits, owner’s name, and expiration date must be readable).
Furthermore, the Company may request that the User produce source of funds documentation, which is necessary to ensure that the user provides evidence that identifies the true source(s) of cash that he uses to wager or play with.
This data could be in the form of:
- Payslip/Director remuneration/Dividends/Pension as proof of wages;
- a bank statement or savings account that clearly demonstrates consistent incoming values from a known source;
- a trust deed demonstrating a persistent right to funds;
- documentation of an award or reward made to the user that is dated.
The papers given by the user will not be authorized because:
- The name/address on the documentation does not match the account name/address;
- documents or copies that are unreadable;
- document not allowed (for example, a copy of a document that is not on the accepted papers list for ID
- verification or a copy of a mail envelope instead of an actual utility bill);
- any other reason that the Company’s employees or contractors believe acceptable.
The Company will make a solution based on the results of the examination of the documents submitted, in accordance with the Website’s Terms and Conditions, Privacy Policy, License Agreement, and legislative obligations.
Obligations
Customers should be subjected to a due diligence (DD) procedure and records should be kept.
Accounts with no name: Accounts with no name or account records are not accepted. Any existing anonymous accounts, accounts suspected of being a nom de plume, or accounts with inconsistent identification should be subjected to appropriate due diligence as soon as possible to establish the account holder’s identity and bona fides. If it is impossible to determine the account holder’s identity, the account will be closed, winnings will be cancelled, and deposits will be paid out to the account from which they were received, or withheld if return of the deposits is impossible or costly.
Duplicate/Multiple Accounts: Many clients want to run multiple accounts in order to keep their gambling money separate. Regardless of this conduct, the Company must identify and link accounts that may belong to or be controlled by the same person.
The company has the right to close any further accounts or accounts of the player in question, cancel any winnings earned, and return any payments to the account owner.
Politically Exposed Persons (PEP): The company must reply to any effort to gamble by anyone who qualifies as a Politically Exposed Person, which includes anyone who holds (or has held in the previous year) a prominent public office, has access to public funds, or is in a position of influence. PEPs are people who can be identified by their family and associates. Based on the value and scale of gambling, as well as the location of the consumer, a risk-based approach should be used. Questions identifying PEPs must be included in the questionnaires.
In the event of a breach of the KYC policy, the Company reserves the right to unilaterally deny any client’s application and/or cancel continued supply of services without any comments or explanations to the customer.
