Fraud cases are becoming a real problem for gambling industry, from schemes like bonus hunting, account farming, account hijacks and illicit chargebacks on the rise I believe that many new casinos aren't prepared for the menace ahead.
Some casinos still believe that not asking for KYC is cool, but it's actually not, I see casinos with no kyc as a red flag because you can't run your business this way without getting into trouble with regulators.
Casinos neglect identity check but little did they know that they can be fined for it, if fraud cases arise from your casino and it's been investigated, your business is going away soon or you pay up for fine. One, for failing to screen customers using the KYC process, two, for possible running of unregistered casino.
Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?
Some casinos still believe that not asking for KYC is cool, but it's actually not, I see casinos with no kyc as a red flag because you can't run your business this way without getting into trouble with regulators.
Casinos neglect identity check but little did they know that they can be fined for it, if fraud cases arise from your casino and it's been investigated, your business is going away soon or you pay up for fine. One, for failing to screen customers using the KYC process, two, for possible running of unregistered casino.
Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?
Hey, you've hit the nail on the head there! With all the sneaky stuff going on in the gambling world, I'm honestly surprised some casinos are still playing it fast and loose with KYC. I mean, c'mon, skipping the identity check might sound all chill and user-friendly, but it's basically a neon sign saying "Potential shady business ahead!"
I'm with you; seeing a casino with no KYC is a big-time side-eye from me. And the fines? Pshh, good luck to those casinos that think they can just dodge the system. They're setting themselves up for some real headaches. Thinking they can roll without AML policy is just... well, naive might be putting it kindly. Makes you wonder if they've even got their papers in order, right?
