Identity Verification Online – There has always been those for and those against having their Identities verified especially from Casinos once they have registered for online gaming. This has and always be in the light of protecting players and/or anyone who makes or receives payments online.
Cybercrime and as well as Money Laundering are automatically linked to each other in everyone’s eyes – This I am sure is due to the fact that there is a huge amount of money changing hands especially in the gaming sector which is why some regulatory bodies such as the UK Gambling Commission are set to put new practices in place that would aim to tackle dubious behavior within the industry.
When you opening an account at any Gaming institution such as an online bookmaker or casino site then you can be assured of the fact that your transactions will be severely restricted until you verify your identity. The process for completing this action has changed massively over the last 20 years to accommodate any loopholes and you now have to verify yourself online using tools that are provided by companies such as Cognito.
However, before you go to verify yourself online you have the right to know why the company, casino or bookie is asking for your details. Mostly, this will be to comply with legislation so there is no harm in doing so on most reputable platforms. If you’re unsure about doing so then you can always contact the company and they will be able to talk you through the process.
The Majority of online gambling companies will not allow you to make a withdrawal until the KYC (Know your Customer) process has been completed. However, you may be able to still place a deposit and bet on certain games or sports without having to verify yourself. As you can see, the reasons for verification are pretty logical and quite simply just legislation that the casino has to adhere to. Yet again, it is all about reading up on why this is required before you begin the process.