Signing up for an online casino usually takes only a minute or two. However, before the account can be completely verified and all the restrictions can be lofted off completely, all the members are required to complete the KYC (Know Your Customer) process.
This process requires you to prove you are who you say you are by sending specific documents. The step also requires mandatory sending proof of address. The whole process is aimed at preventing any fraudulent activity, or underage gambling, and to stop multiple accounts being opened by the same player.
Since most of the casinos require KYC account verification, proof of ID and proof of address are a must. While the proof of ID can be anything, including a driver’s license, passport, or any officially accepted form of identification, proof of address could be a bank statement, mobile phone, or even a gas bill.
Know Your Customer (KYC) in Casinos and Why it is Needed
Know Your Customer (KYC) is a crucial process that most financial institutions and other regulatory bodies, including gambling operators, use to verify the identities of their customers.
It also includes assessing the risks associated with the customers before entering into transactions or business dealings. Additionally, this process of verifying identities helps not only in preventing identity theft and fraud, but also money laundering, terrorist financing, and other illicit activities.
Many of the jurisdictions involve strict regulations to avoid any kind of fraud, money laundering, and underage gambling. With the help of KYC, gambling platforms are able to function smoothly and maintain legal and ethical operations.
It also helps in preventing fraud by making sure that the people involved in gambling are the people who they say they are. This entails confirming the identity proofs and other personal information provided.
Verifying the financial as well as personal details of the customers through KYC assists gambling sites in multiple ways. For instance, the process makes sure that no financial crimes, including money laundering and terrorist financing, are committed knowingly or unknowingly.
KYC is also a means to promote responsible gambling. Possessing the basic information about the customers helps the gambling platforms identify potential issues related to problem gambling behaviors and take necessary steps to address them.
Overall, KYC facilitates responsible gambling by giving the authority to the gambling platforms to track customers’ gambling behavior, identify potential risks, and implement necessary measures like setting deposit limits or offering self-exclusion options.
Information to be shared while signing in
For signing in and verification purposes, you are supposed to share some of your personal information with the respective casinos. Typically, you are asked to share personal details like full name, date of birth, and gender. Additionally, the contact information along with the email address and residential address is to be shared.
It is also a necessary step to create a username and password for yourself. Depending on the casino and its policies, you are also required to submit identification documents such as a copy of your passport, or driver’s license to verify your identity.
Lastly, the casinos will also most likely ask for banking details to deposit and withdraw funds. If you have any promo code, you will have to enter that during the signup process. As a final step, the players are asked to accept the casino’s terms and conditions, including their gambling policies.
While sending the documents to the online casino’s account verification department, always be sure to get them right the first time. The clarity of the images should be checked, along with the readability.
If the documents are not readable, there is a high chance that the casino’s verification department will reject them. When sending the copy of the ID, always make sure that the copy is a scanned color copy and is valid.
The ID will be rejected if it is expired. It should also be noted that the proof of address states your current address and is not more than 12 weeks old.
The verification process mostly takes only a few hours, but in some cases, it may take up to two or three business days to be completed.
To get the documents verified as soon as possible, make sure that you get them scanned and have them stored on your mobile phone or desktop computer. If not, the entire process may get delayed and take more time.
Conclusion
As a player at a certain casino, it is crucial that you provide accurate and truthful information during the signing process. Online casinos require the given information to ensure that you are eligible to gamble, verify your identity, and comply with regulations.
Additionally, you are also required to read the privacy policy thoroughly and understand how the given information will be used and protected. This in turn provides a secure and responsible gaming environment for both the parties–the casino as well as the players.
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