Know Your Customer

Know Your Customer

Updated: 24.05.2024

Know Your Customer is a method used by companies and online casinos in Ireland. It’s a mandatory process of identifying and verifying the client or player's identity when they open an account as well as periodically over time. This is to ensure the player is who they say they are and reduces the risk of online fraud, among other things such as tax evasion and money laundering.

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What Is a KYC?

KYC, or Know Your Customer, and many other companies use this service globally to verify their players and clients. The KYC method consists of three main components to verify the client’s and player’s identities and financial information. Remember, this isn’t some ploy set by online casinos and companies to steal your information and identity.

Players from Ireland may find this process annoying, but it’s most definitely justified. Without the UKGC regulations and the KYC process, players wouldn’t be able to enjoy the perks of online gambling and the opportunity to win big with their choice of online casinos and games that they enjoy.  

These high standards are put in place to reduce and prevent high-risk factors such as online fraud, tax evasion and money laundering. Let us dive into the three main components of KYC and why they’re vital to online casinos:

Customer Identification Program (CIP)

This is where the player gives the online casino their personal information. Once the online casino has obtained this information, they’re able to verify the player’s identity. This is done by collecting the full name, date of birth, address (if applicable) and identity number.

Customer Due Diligence (CDD)

Companies use this and online casinos to assess the player’s risk, ensure no fraudulent activity and ensure player safety.

Continuous Monitoring

This is used to monitor any risks and other suspicious activity for both the player and the online casino.

Why Do Online Casinos Use KYC?

Online casinos are required by law to monitor all of their players. The player’s personal information, such as identity number, age, source of funding and location, are consistently monitored to ensure their safety against fraud and any sort of high-risk money crimes.

The United Kingdom Gambling Commission (UKGC) issues all licenses to the UK online casinos and sites. Under these licences, online casinos must adhere to the correct procedures and protocols of KYC. This is to ensure safeguarded players’ information and the casino against all fraud, tax evasion and money laundering schemes.

How Do I Complete the KYC Process?

The Know Your Customer process is implemented by online casinos and is quite simple.

The KYC process is as follows:

  • Proving your identity and age

This can be done by providing a copy of your driver’s license, passport or identity card. Some online casinos also require proof of address; this can be done by sending a copy of your most recent utility bill.

  • Further information may be required

Online casinos may require further information from players. This is to ensure proper diligence from the casino; your information is safe and secure. The additional information required is verification of payment methods and your earnings; this will be used to verify which payment method suits you best.

The additional information may consist of financial documents.

  • Most recent bank statement
  • Most recent payslip
  • Copy of bank card, front and back

How Will My Information Be Used and Stored?

Online casinos store your information in a safe and secure location, using end-to-end encryption and secure servers. In accordance with the UKGC, no information can be sold or used by any other private companies or third parties. This falls under the Data Protection Regulation Act. All of your information is only used internally by authorised staff and cannot be accessed without permission.

How Does KYC Affect My Betting?

How KYC affects betting

As the customer and player of an online casino, you have to take the first step in the KYC process, create your online profile and provide the correct information to the online casino.

Once you have verified all of your online information, you’re then able to gain access to certain perks with the online casino and we’re not just referring to the bonuses. If the KYC process is not followed, you won’t be able to gain access to the following:

  • Make deposits into your account with your desired payment method of choice.
  • Gain access to free games or other perks the casino may offer.
  • Play any games provided by the casino using your own money.
  • Place any bets with a game and online casino of your choice in order to win real money.

To Bring Things Together

Online casinos and online gambling have undoubtedly taken the world by storm and have been paving the way for gambling ever since, dominating the industry every time. Naturally, online gambling would not be possible without their licences and online gambling regulators such as The United Kingdom Gambling Commission.

The regulations and procedures put in place by these regulators, such as the KYC method, are one of the many protocols that keep you and the online casino safe from high-risk money crimes such as money laundering, tax evasion, tax fraud and corruption. This is why the KYC method has become a vital part of online casinos.

We understand that giving your personal information out online may be daunting and somewhat scary. Still, in order to to access online casinos and all of their glorious amenities, such as welcome bonuses, online games, special features, special bonuses, betting, and, of course, winning actual money, you need to provide your information to the online casino, using the KYC method.

However, with licensed casinos, these casinos of your choice are regulated and controlled by trusted regulators such as the UKGC, which provide regular checks with the casinos to ensure the correct protocols are being followed.

Among these protocols, online casinos must ensure their client’s information is protected from hackers as well as from third-party companies that will buy your information; when you find an online casino that you trust and wish to sign up with, just remember to fill in your personal information and provide additional financial documents (if applicable).

This is all to ensure the safety of your identity and your information. Doing so gives you the best and safest online gambling experience with an online casino of your choice. Suppose an online casino also uses the KYC method correctly and efficiently. In that case, this also boosts the casino’s overall image and revenue with players and regulators. It will also make them more trustworthy and help them make a bigger digital footprint with their reliable identification methods and safety protocols. The KYC method is a crucial factor that provides for both the players and, of course, the casino.

Frequently Asked Questions

Is KYC required for gambling sites in Ireland?

Yes. KYC is required by all regulated and registered casinos. In Ireland, if any person or casino is found now abiding by these protocols, they will be subjected to fines and further legal action.

Do all online casinos carry out KYC?

Yes. All KYC protocols are followed by all licensed casinos in Ireland. These are done through the United Kingdom Gambling Commission.

What is KYC?

KYC, or Know Your Customer, and many other companies use this service globally to verify their players and clients.

How to find more about KYC?

Learning more about KYC can be done by contacting your trusted online casino via their customer support, or by finding a reputable website.

What documents are needed for KYC?

You will need a valid identity document, passport or driver’s licence for your KYC. This is to confirm your identity and age. Further information may be required from an online casino, where they may ask for a proof address and or bank statements.

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