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?
It largely depends on the country the casino is hosted in. There are places that still don't force casinos to follow KYC standards with their customers and I think that's okay.
The only problem I see is that KYC-free casinos are becoming increasingly rare, so finding a reputable, reputable and trustworthy KYC-free casino is increasingly difficult.
In these cases, I recommend that the player prefers to play at a KYC casino rather than risking their bets and money at a KYC casino that is not secure.
Fortunately, I just play for fun, and I don't remember the last time I made a withdrawal, as I always use all the funds to play more games (the few times I get a positive balance), so KYC hasn't been a problem for me.