No player likes to lose in a casino, but the risk is acceptable. At the same time, being deceived by cybercriminals is unacceptable. Hackers try to attack any new online casino to gain access to personal information, including bank account numbers and credit card information. They use the data to impersonate players and conduct illegal financial transactions.
Unmanned casino accidents damage their reputation. That’s why the platforms implement strict KYC (Know your customer) protocols.
What information is required to verify identity?
KYC procedures are a very important part of AML (Anti-Money Laundering) and CTF (Counter-Terrorist Finding) Controls. It verifies that each person visiting Casino Online is who they say they are and is authorized to play on these platforms. Let’s look at what information users have to provide.
- Full name. It is the first point of identity verification and matching against official information.
- Birthday. This information is needed by Casino Online to prevent children from accidentally forcing the reels, which could damage the brand’s reputation.
- Identification issued by the government. A passport or driver’s license is required to verify information against official information and prove that the person they claim to be.
- Residential address. Knowing the user’s location is important for monitoring and complying with gambling laws.
- Bank details and proof of income. It is important for high rolling. This verification allows casinos to get more data and fraudsters to verify illegal users.
After verifying the identity, the casinos perform a risk assessment and provide a rating. Some platforms take additional steps, analyzing average bets and cost structures to detect suspicious activity.
Why is identity verification so important?
Verification is an important process in an online casino. We decided to research the main reasons.
Age control. Most platforms have set an age limit for users to spin the reels for real money. Identity verification proves that the player is of legal age.
- The process requires the user to present documents. It helps prevent scams, money laundering, and other illegal activities that could harm the visitor.
- Responsible gaming. Casinos must ensure users play responsibly. Identity verification enables sites to monitor visitors’ behavior and, if necessary, limit their playing time.
- Compliance with the law. Government agencies regulate casinos and require strict compliance. Verification ensures that the site adheres to fair trading standards and that its players have not engaged in illegal activity.
The popularity of online gambling is unlikely to decrease in the coming years, so fraudsters will continue to pose revisional risks. Casinos that want to succeed in the new gambling ERA must implement a strong KYC process. As the industry grows, the law will evolve further.
