Casinos are establishments in which money is gambled on. The question for many players is why the online casino is suddenly requesting so much data. You may feel controlled and, as an interested player, shy away from being questioned.
One has to keep in mind that non GamStop casinos have no choice but to let their players go through certain steps, namely verification and registration.
However, this verification and registration is anything but a pleasure for the casinos themselves. As a non GamStop casino club, you want to welcome your players and invite them to enjoy the games on offer as soon as possible. No one wants to first put their guests through a process that will test them and maybe even make them feel uncomfortable. Even the reputable non GamStop casinos, who only want to give their customers the safest and best experience, are reluctant in their wishful thinking to subject the players to an examination of their identity, which may even give them the feeling that they are being spoofed by someone way could suspect.
The Reasons for the Verification Process at Non GamStop Casinos
Many interested customers have certainly been surprised, or perhaps even annoyed, by the measures and steps that he has to go through to be allowed to play in a non GamStop casino. However, there are good reasons for all these processes and measures, and it is not without reason that the legislator prescribes the so-called verifications.
The casino needs to do this verification in order to continue offering games to players.
Here it is common for safe and lawful online casinos to verify the identity of their players at some point. Part of this is also to protect players, but verification is also there to help casinos prevent and prevent issues like money laundering, multiple player accounts and other scams/potentially harmful activities.
In the following text, we explain the dangers that can arise without appropriate control of the casinos.
What Does Money Laundering Mean?
When illegal activities generate income, it is considered “dirty” money. The United States, for example, has many protocols for tracing the source of large deposits of cash or other commodities. The banking system in particular is closely monitored and regulated, meaning the beneficiaries of ill-gotten gains cannot simply bank them.
The Internal Revenue Service (IRS) is also responsible for monitoring all large purchases, such as property or real estate, to determine the source of the funds used In short, when individuals or companies receive money for illegal activities, they need to find a way to prove that the money came from legitimate deals.
Gambling revenue is a way to legitimately earn or receive large amounts of money, so criminal companies often use online casinos as a way to convert dirty money obtained through illicit dealings into “clean” money, allegedly obtained legally.
Preventing Money Laundering or Other Criminal Activities at Non GamStop Casinos
Both casinos and cryptocurrency exchanges can also act as banks, keeping funds safe until needed. All casino payouts are a single lump sum. They are not broken down. So you cannot see at the end how much was deposited and paid out at the end. Therefore, a player can deposit several thousand dollars, play with a very small portion of it, and then just withdraw the rest. At this point, there is no distinction between the initial deposit amount and any winnings. Many non GamStop casinos even write checks and deposit winnings directly into the winner’s bank account. When casinos are not registered, it makes investigating where the funds come from very difficult.
Terrorist Financing – The Flow of Money in the Casino
International terrorism is one of the greatest threats to world peace and security. To contain these dangers for all of us, the terrorists must be fought on all possible channels and in all networks.
Non GamStop bets can now also make a valuable contribution here through registration and verification.
Terrorist groups have to finance themselves and use any means at their disposal to do so. Online casinos that do not require identification are perfect for this. But how can terrorists use non GamStop casinos to transfer money? That’s easy to explain. They first look for platforms on which anonymity is advertised, which means they do not have to identify themselves and can thus remain anonymous. Also, they prefer casinos with high limits.
The players log into these rooms and then play against their accomplices, who got the money, for example, from stolen credit cards or credit card information (keyword phishing). If they have then lost against these like-minded people, the money is transferred to them as profit.
Player registration and verification generally make this approach impossible.
KYC or Know Your Customer – Verification of Player Identity
There is an effective way to make the money laundering and terrorist financing activities described above more difficult or even impossible: non GamStop casinos have to know their customers. Gaming licensing authorities require all casinos to verify player identities and conduct KYC checks (KYC stands for Know Your Customer) if they wish to operate under their jurisdiction.
This means that a player has to prove who he is.
However, the stage at which this happens may vary by region and agency.
The KYC process is started using the information that the player provides in the registration form when creating an account.
Safe and officially legitimate casinos follow this process of player registration and of course, hope that players are not put off by this. It’s a one-time step and after that, you get the benefit of playing at a casino that you feel completely comfortable with and that you don’t support any criminal activity.
The personal information provided by a player upon registration may be checked against data from a variety of different databases to confirm the player’s identity. This is often done through third-party services.
Second Verification Step Only in Exceptional Cases
Should the automated verification process, not work, the player need not despair. For example, errors may occur if the player recently changed their address, if the information was misspelt, or if people with similar names live in the same house. If this is the case, casinos can request copies of player identification documents and thereby safely identify the player.
However, in the event of an apparent risk of money laundering or any other circumstance that may later become apparent, a player may be required to provide evidence of their source of income. Often these are recent payslips, bank statements from the past three months, income tax returns, or some other legitimate source of information.
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