“Know Your Customer” simply stands as KYC, is a compliance process in financial institutions, including in the casinos, follow to verify the legitimacy of customer identities.
Customers who do not comply and refuse for providing the KYC documents may experience withdrawal delays or worst they cannot withdraw all the earnings in account And those who gives fake ID’s may need to pay penalties or face other criminal charges.
REASONS FOR ID REQUIREMENTS
Here is the primary reasons, why ID’s are require for signing up and claiming your winnings from online casino.
1.ANTI MONEY LAUNDERING LAWS
- Money laundering is an illegal act where the source of money is concealed to make it look like it’s legit.
2.PREVENT MINORS FROM ENTERING CASINO
- Most of the casino player to be is at least 18 years old and above.
3.FRAUD PREVENTION
- Fraudsters create multiple accounts on website to manipulate the odds of winning.
4.IRRESPONSIBLE PLAYING
- Players who have history for irresponsible gaming will be closely monitored.
5.FIGHT BONUS ABUSE
- Some players and customers abuse the welcome bonus promotion by creating multiple accounts.
If you are planning to sign up in Indian Online Casino, you need to provide Bank statement and your Valid ID. Here is the example of ID that you may use.
Pan Card
Aadhar Card
Passport
Driver’s License
Ration Card
Passport
A passport is one of the most common government-issued identification cards required for players to submit to their online casino. Some platforms will specifically need a passport, while some will accept any ID with your photo on it.
Driver's License
Aside from your passport, your driver's license is also a valid ID for verification on online casinos. You just have to make sure that it is not expired.
Bank Statement
Bank statements can also help verify your address. However, they usually ask them to see any irregular income patterns in your account. 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 a valid ID forfeits your chance to claim your winnings.
For more information about casino tips and strategies, sports update and cricket live scores kindly visit the Best Online Casino 11ic. Stay tuned for more updates and Happy reading Folks!!
Comentarios