Post
Topic
Board Gambling discussion
Re: Do you think casinos can stop demanding KYC?
by
Questat
on 23/07/2024, 11:17:23 UTC

That's why casino doesn't want to removed KYC for their members because KYC can help casino to check their member's background so they will not worry with anything especially if there are an audit comes from the government. [..]

It's not them but the government that requires the implementation of KYC. If there was no mandate by the government requiring it, they wouldn't mind accepting gamblers on their platform even without KYC, as that would be easier for them and they could easily attract gamblers. However, as the AMLC is strict in doing its job, they want to prevent or minimize money laundering by criminals, and KYC is just a basic implementation they need in order to trace the transaction's owner and its origin, of course.