A casino has a Know Your Customer (KYC) ID process to verify the identity of players even before signing up. However, some online casino players, and even owners, find these regulations vague, inconvenient and time-consuming.
The fact is that the government and gambling 카지노사이트 추천 regulators are implementing a full KYC process in casinos for some reason. Read on as this article explains why these licensed casinos require an ID and which IDs are accepted.
Why do online casinos need an ID?
Know Your Customer, known simply as KYC, is a compliance process for financial institutions, including casinos, to verify the legitimacy of their customers’ identities.
In the UK, the government enacted through the Gambling Commission that all casinos must demand KYC documents from their customers and follow all verification protocols.
This regulation is in line with the three main licensing objectives of the Gambling Act of 2005:
- prevent gambling from being a source of or associated with crime or disorder
- ensure that all gambling practices are fair and open
- protect children from getting involved with gambling
With this, UK online casinos that do not follow these regulations are subject to paying heavy fines and getting their licenses revoked.
Additionally, customers who do not comply and refuse to provide KYC documents may experience withdrawal delays, or they won’t get to withdraw their winnings at all. Some even have their accounts removed. And those who are caught using fake IDs may need to pay tremendous penalties or face criminal charges.
Reasons for ID Requirements
Here are the five primary reasons, in detail, why IDs 온라인카지노 are required when signing up and claiming your winnings from online casinos:
Compliant with Anti-Money Laundering Laws
Money laundering is an illegal act where the source of ill-gotten money is concealed to make it look like it’s obtained legitimately. In contrast, it was generated from criminal activities like terrorist funding or drug trafficking.
One of the most common methods criminals use to “launder” their money is online gambling. Since online casinos and betting sites largely operate with vast sums of money and accessing their websites is relatively easy, they can quickly become a platform where this type of cybercrime is prevalent.
Launderers deposit their money in gambling sites as a way to “clean” it or make it seem like it’s from a legitimate source of funding.
Others simply use ill-gotten gains to finance their recreational gambling activities. Both cases are serious cases of money laundering by online casinos.
Governments have since enacted strict laws, especially with the modus operandi or techniques of criminals that have kept up with advanced technology.
Once the KYC process is implemented, all members are required to submit IDs, proof of address, and most importantly, bank statements.
With bank statements, you can see where your money is coming from. If the casino operator finds anything suspicious, they need to justify the funding.
Failure to do so may result in the deletion of your account and transfer from you to the authorities.
Online casinos that have been shown to neglect or support criminal activities such as money laundering on the platform may also be subject to legal penalties. They will have to pay heavy fines or close.
No access for minors
The legal age for gambling can vary from country to country. For example, the legal age for gambling in the US can be different in every state since gambling laws are state-regulated.
Although most US online gambling sites require players to be at least 21 years old, there are states where the minimum legal gambling age to enter casinos is 18, including:
- Florida (poker and bingo in tribal casinos only)
- Georgia (off-shore cruises)
- Idaho (may also depend on different properties)
- New York
- Rhode Island
On the other hand, in the UK, someone who is older than 18 years old can enter and play in casinos and other gambling establishments.
As regulated by the Gambling Commission through the Gambling Act of 2005, children must be protected from getting involved with any type of gambling activity.
With this, online casinos must be strict in assessing their customers’ age. Submitting IDs for online casinos help identify if the player is underage or not.
The operator searches your name on the voters list to verify that your ID is legal and that you are of legal age to register on the site.
However, some casinos do not require the submission of KYC documents upon registration. This gives underage players the opportunity to enjoy free spins.
However, if you have a lot, you may be asked to prove your age and identity before picking up your lot.
The KYC process also prevents fraud by individuals and groups. An example of illegal activity fraudsters do on gambling platforms is collusion.
Collusion involves creating multiple accounts on the same website to manipulate your chances of winning.
They often register using fake or stolen identities. These fake accounts will lose, so one of the main accounts wins.
Additionally, some criminals use stolen credit cards 카지노사이트 to register at online casinos and top up their accounts. You may also receive a “refund” using your bank’s chargeback policy.
A chargeback, also known as “friendly fraud”, occurs when a customer challenges a bank (in this case, an online casino) instead of a merchant to get their money back for illegal reasons.
Scammers can abuse this policy to reduce their losses. A strict process is why casinos that accept credit cards are strict with their KYC process.
All of these actions are illegal, and anyone found guilty of any of them can be punished. The online casino carefully checks the submitted documents and verifies their legality.
Players with a history of irresponsible or cheating games are closely monitored. By submitting KYC documents, the online casino can verify if you are blacklisted from scammers who have been banned from playing.
The problem of gamblers is also a problem for online casinos. To help those who have already had problems with being a compulsive or irresponsible gambler, they should no longer be allowed to register at online casinos.
Fight the abuse of rewards
Some players abuse welcome bonuses by creating new accounts multiple times. Identity verification helps prevent these players from taking advantage of these promotions.
All casinos allow only one account per person. If we discover that you have created a second account, your first account will be canceled and you will not be able to withdraw any more money or income from it.
At worst, they will block any account you create and ban you from playing on their platform.
Your bank statement also verifies your address. However, they usually ask you to verify your account for irregular income patterns.
It will help them monitor potential money launderers that might be using their platform to conduct their illegal activities.
If you’re planning to sign up on an online casino, prepare at least two types of IDs as some platforms require two or more.
Some casinos would ask you to submit your KYC documents when signing up for an account.
However, it is now common for casinos not to ask for IDs right away to attract more customers.
Instead, you will have to submit your documents before you can make your first withdrawal. Failure to provide valid ID will void your opportunity to claim any winnings.