Are no KYC casinos taking risks? | Bitcointalksearch.org

goinmerry

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Quote from: maydna on October 28, 2023, 04:13:05 PM

That's why we have to be careful if we want to use a new casino and check it first before we register. New casinos may easily change their rules and not tell all their customers because some casinos really want to cheat their customers. Even if the customer manages to win some money, the casino will make it difficult for the customer to withdraw the money because the casino asks the customer to do KYC first before the casino processes the withdrawal.

Aside from being users need to be careful when choosing a new casino, it's good to make it a habit for now that if trying a new casino, always expect that KYC might be a big concern when it comes to withdrawal. If possible, aside from reading the Terms and Service regarding KYCs, users can also contact the support for a clear answer about that.

We can't generalize that all new casinos want to cheat their customers through KYC once there is an attempt to withdraw a big amount.

Weawant

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Quote from: Docnaster on October 28, 2023, 05:20:56 AM

It all depends on the kind of casino company you're dealing with. Some of the new casino companies does request for the KYC in their bids to deny their customers payment after winning huge amount of money while long existing and popular casino companies do ask for KYC so they can verify the customer wether he's the true account owner or an an imposter. For the long existing casino companies, I think it shouldn't be a big deal to provide them with all requested documents that'll prove you to be legally fit enough to claim your winnings

Going buy you comment I think it's safer and better to work with the long existing casinos who have been in existence for long time and have got good reputation enough to be trusted because they are most likely not to deny their customers wining on the ground of KYC which has not been done or completed as they are done mostly at registration or not even requested at all.

I agree with you if it comes to the long existing and reputable casinos, if for any reason they requested KYC, the requested document should be provided them as legal actions can be taken against them in case where things goes otherwise, but if it's with these new companies who are yet to get the required reputation they could possibly make away with customers funds and probably get away with it.

maydna

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Quote from: cafter on October 28, 2023, 05:05:32 AM

Quote from: maydna on September 23, 2023, 04:50:30 AM

~snip~

I seen some new casinos who do not want their player to win big and withdraw that amount easily, They ask for various documents for KYC, many different kind of documents like bank statement with transaction id for all transactions, paycheck, electricity bill, passport, etc. I once made an account on a new casino by seeing their bonuses, I deposited first time it was deposited with no problem, Then after busting that amount I deposited 2nd time but that deposit was not arrived I contacted support for it, that my deposit was not arrived in my account, they provided the casinos finance division's email for sending the issue, They I got a reply from them after 2 days they asked for various kind of documents, that was around 12days long process because they were so slow to reply on emails. after all until today I didn't have got my refund. so stay away with new casinos which offer huge bonuses or bonuses which seems suspicious.

That's why we have to be careful if we want to use a new casino and check it first before we register. New casinos may easily change their rules and not tell all their customers because some casinos really want to cheat their customers. Even if the customer manages to win some money, the casino will make it difficult for the customer to withdraw the money because the casino asks the customer to do KYC first before the casino processes the withdrawal. That's what we have to avoid, and we should play gambling at trusted and popular casinos so that we won't experience any problems.

Docnaster

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Quote from: cafter on October 28, 2023, 05:05:32 AM

Quote from: maydna on September 23, 2023, 04:50:30 AM

The casino does not want any of its members to be involved in illegal activities, so they will always monitor activities and ask their members to do KYC when they want to withdraw their big winnings.

I seen some new casinos who do not want their player to win big and withdraw that amount easily, They ask for various documents for KYC, many different kind of documents like bank statement with transaction id for all transactions, paycheck, electricity bill, passport, etc. I once made an account on a new casino by seeing their bonuses, I deposited first time it was deposited with no problem, Then after busting that amount I deposited 2nd time but that deposit was not arrived I contacted support for it, that my deposit was not arrived in my account, they provided the casinos finance division's email for sending the issue, They I got a reply from them after 2 days they asked for various kind of documents, that was around 12days long process because they were so slow to reply on emails. after all until today I didn't have got my refund. so stay away with new casinos which offer huge bonuses or bonuses which seems suspicious.

It all depends on the kind of casino company you're dealing with. Some of the new casino companies does request for the KYC in their bids to deny their customers payment after winning huge amount of money while long existing and popular casino companies do ask for KYC so they can verify the customer wether he's the true account owner or an an imposter. For the long existing casino companies, I think it shouldn't be a big deal to provide them with all requested documents that'll prove you to be legally fit enough to claim your winnings

Solosanz

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No KYC casino is good for people who don't like KYC, but unfortunately it's really hard to find a trustworthy no KYC casino. A KYC casino isn't always legit too, so it's really depends on the casino's reputation.

Quote from: doomloop on October 26, 2023, 01:59:31 AM

Quote from: Natsuu on October 24, 2023, 06:33:27 AM

Red flag immediately? But a lot of new casinos I see are like that. Maybe there's also a requirement to apply for AML like a casino needs to have a good number of active players first? I believe that casinos that don't have an AML policy are not primarily created to help the fraudsters but they are only here for business.

He's promoting Bitvest and I don't see there's mentioned about AML policy, so he's promoting a red flag project, maybe he deserve to get a negative feedback. Roll Eyes

cafter

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Quote from: maydna on September 23, 2023, 04:50:30 AM

The casino does not want any of its members to be involved in illegal activities, so they will always monitor activities and ask their members to do KYC when they want to withdraw their big winnings.

I seen some new casinos who do not want their player to win big and withdraw that amount easily, They ask for various documents for KYC, many different kind of documents like bank statement with transaction id for all transactions, paycheck, electricity bill, passport, etc. I once made an account on a new casino by seeing their bonuses, I deposited first time it was deposited with no problem, Then after busting that amount I deposited 2nd time but that deposit was not arrived I contacted support for it, that my deposit was not arrived in my account, they provided the casinos finance division's email for sending the issue, They I got a reply from them after 2 days they asked for various kind of documents, that was around 12days long process because they were so slow to reply on emails. after all until today I didn't have got my refund. so stay away with new casinos which offer huge bonuses or bonuses which seems suspicious.

doomloop

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Quote from: Natsuu on October 24, 2023, 06:33:27 AM

I think a casino not regulated by AML is a red flag already. AML regulations are there for a reason and that is to keep an eye on transactions and prevent illegal activities, such as money laundering. It is crucial for monitoring financial transactions and ensuring that illegal activities are prevented so as you say, without proper regulations, casinos could potentially operate without oversight and it can lead to various risks especially to customers. If they bypass KYC too, rhere must be something illegal going on. It is possible but it should be taken lightly both by the customers annd the regulators and everyone in the industry too.

Red flag immediately? But a lot of new casinos I see are like that. Maybe there's also a requirement to apply for AML like a casino needs to have a good number of active players first? I believe that casinos that don't have an AML policy are not primarily created to help the fraudsters but they are only here for business.

Many gamblers loves them because they hate KYC. Also there is no guarantees that KYC-enabled casino can filter the frauds effectively. Money launderers are only doing their thing. There is no way they can harm other innocent users. It was the hacker is the ones we should worry but any casino can prevent them as long as they will only tighten their security. I don't mean KYC/AML there.

Natsuu

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I think a casino not regulated by AML is a red flag already. AML regulations are there for a reason and that is to keep an eye on transactions and prevent illegal activities, such as money laundering. It is crucial for monitoring financial transactions and ensuring that illegal activities are prevented so as you say, without proper regulations, casinos could potentially operate without oversight and it can lead to various risks especially to customers. If they bypass KYC too, rhere must be something illegal going on. It is possible but it should be taken lightly both by the customers annd the regulators and everyone in the industry too.

pinggoki

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Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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?

Even if the strictness of AML policy gets even more constricted, I don't think that we're going to see an end to casinos that don't do KYC, like during the time of Prohibition, the alcohol sales didn't really lowered or even the people who drinks alcohol ever go down. The only thing that a stricter AML policy does is make those KYC non-compliant more sneaky. The best thing that they can do in this case would be to get better at tracing or following the money, improving the forensic accounting department is the key to all of this problem.

Crypt0Gore

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Quote from: livingfree on September 22, 2023, 01:24:30 PM

Nope. Not at all cases.

There are legitimate casinos that do maintain their posture for being a non KYC casino for some of their users that are clean on their activities. Yeah, it's typical that they should ask KYC for everyone but that only happens when it's really needed.

So, if there's no need for them to ask a player for KYC then they wouldn't do that. They'll only do that when something triggers them coming from that user like huge or unusual withdrawals or deposits.

For whatsoever reason why they will ask for KYC is going to be known to them only, not you, so how will you know what went wrong? Still they have the control and the right to ask anyone for KYC when you don't expect, this says everything, it is not always when you deposit large amount or when you log into the platform from another brand new phone, there can be other reasons.

I wish every casinos that don't necessary ask for KYC will always come out and tell their customers what really went wrong as why they are asking them to pass KYC, this is the only thing I don't like about gambling platforms.

Still I don't have problem with KYC verification, in fact I prefer passing the KYC verification before I start using the platform to place my bets and have some fun, there will be no unexpected KYC requirement or others because I am already verified.

Synchronice

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Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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?

Sometimes they are playing with words. I have visited some casinos that claim to be no KYC, usually have conversation with their customer support representatives to confirm things but then they say that they may ask for KYC if there is something wrong. I.E. some of them call themselves no KYC because they don't ask you for KYC to play but they still may request KYC documents from you if they think there is something suspicious with you.

But there are also some casinos that don't really ask for KYC. These casinos are usually small and not so comfortable to use. In this case, if you risk to use such casino, you should keep in mind that it's risky but also you should keep in mind to lean towards the one that has highest trust in this community.

maydna

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Quote from: alastantiger on September 22, 2023, 03:23:08 PM

Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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 is only an unregistered and an unlicensed casino that will not be concerned about asking for KYC because they know that there is really no consequences for it. They are not bound by any law. Most of these online casinos operate offshore where they can hide their other clandenstine activities which includes money laundering.As a result, they evade the authorities which creates significant risks for both players and the broader financial system.

Nowadays, gamblers choose registered and licensed casinos because they do not want to experience scamming from their casinos. But licensed casinos also apply KYC to their members to monitor all their members who will gamble at their casinos. The casino does not want any of its members to be involved in illegal activities, so they will always monitor activities and ask their members to do KYC when they want to withdraw their big winnings. Some casinos implement KYC when registering, so there are no problems later. So for now, unlicensed and unregistered casinos are not a good choice for gamblers because of the scamming already happening everywhere.

livingfree

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Quote from: stomachgrowls on September 22, 2023, 02:58:34 PM

Quote from: livingfree on September 22, 2023, 01:24:30 PM

Nope. Not at all cases.

There are legitimate casinos that do maintain their posture for being a non KYC casino for some of their users that are clean on their activities. Yeah, it's typical that they should ask KYC for everyone but that only happens when it's really needed.

So, if there's no need for them to ask a player for KYC then they wouldn't do that. They'll only do that when something triggers them coming from that user like huge or unusual withdrawals or deposits.

Even still there are platforms who do really let or allow huge withdrawals without having those kind of requirements or sudden KYC which they could really be able to pull out those funds or huge wins with ease and its true
that those casinos are still that existing as of today and they arent really that asking for those KYC even hitting up some threshold as long they wont really be able to see some shady activity on users/gamblers part then it should really be just fine but we know that regulation becomes even more stricter with these kind of business or platform plus having that kind of impression that these businesses are needing some license to have some sort of security on which some gamblers are really that minding on and this is why they do prefer on seeing these platforms compared to those who dont have.

Taking up risks? They had been the first that exist on the market specially in talking about crypto related platform on which they had been long time or couple of years ahead compared into those
platforms which does have licensed or simply being regulated. Some do make out some adjustments and requiring themselves to be licensed and there are
ones who do really that remain still.

Yes, there are casinos that don't have any problems with allowing a user to withdraw as much as they can without having the need to ask about KYC.

They're just compliant and needs to ask KYC because of the regulatory bodies that are also monitoring them and that's why it's being pushed and passed on the users even if they don't want to.

It is not a question anymore as many if not all crypto gamblers are aware of this when they do ask it, if not then that's good on your end that doesn't like to comply yet.

jostorres

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Quote from: Rruchi man on September 22, 2023, 01:08:45 AM

Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

so is it possible that those casinos doing their no KYC stuffs are not even registered? [/b]

It is possible that they are not yet registered and have started illegally. Starting with no statement of KYC registration in sign up stage, deposit stage or even withdrawal stage in their "Terms of service" is a big red flag and sign of a casino that may just have been opened for a criminal reason, a casino with no intentions to remain in the business.

KYC requirement is not only to curtail money laundering activities, It is also helping to reduce the increasing number of underaged gamblers.

Well, a lot of platforms don't acquire a license so that they can provide their services without asking their customers for KYC verification because they feel that there is a high demand for no-KYC platforms within the gambling community and it's true to some extent. However, I believe most people are slowly accepting their faith and understanding that a no-KYC platform won't really be able to stay around for very long, it will either close down or it will be forced to comply with the KYC and AML rules.

So, even if a casino doesn't have any intentions of doing criminal acts or allowing that to happen, it will have to give up on its arrogance and accept the rules of the regulators or they will simply close it down which will be a big loss for the owner of the casino as they will lose everything they've invested in it.

goaldigger

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Quote from: alastantiger on September 22, 2023, 03:23:08 PM

Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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 is only an unregistered and an unlicensed casino that will not be concerned about asking for KYC because they know that there is really no consequences for it. They are not bound by any law. Most of these online casinos operate offshore where they can hide their other clandenstine activities which includes money laundering.As a result, they evade the authorities which creates significant risks for both players and the broader financial system.

There’s a risk for unregistered casino and it affects most the gambler since they are taking bigger risk on playing on that site though decentralized gambling site are still growing despite of the risk, we might see more of those site in the future. Complying with the KYC terms is all for the purpose if AMLA policy and those who have their licensed can’t do anything about it but to comply, especially if the funds becomes suspicious.

alastantiger

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Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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 is only an unregistered and an unlicensed casino that will not be concerned about asking for KYC because they know that there is really no consequences for it. They are not bound by any law. Most of these online casinos operate offshore where they can hide their other clandenstine activities which includes money laundering.As a result, they evade the authorities which creates significant risks for both players and the broader financial system.

LDL

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Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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?

See AML issue was not so mandatory in the past but nowadays kyc system has become so important that kyc is mentioned in mandatory terms and conditions of a gambling and casino site. However the reasons behind it are mentioned yet AML/KYC system is being mandated to gain popularity and trustworthiness of gambling and casino sites. However, most casinos and gambling sites do not make KYC verification mandatory. Moreover, till now most of the users are against KYC/AML and they are not ready to share their personal information online.

stomachgrowls

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Quote from: livingfree on September 22, 2023, 01:24:30 PM

Nope. Not at all cases.

There are legitimate casinos that do maintain their posture for being a non KYC casino for some of their users that are clean on their activities. Yeah, it's typical that they should ask KYC for everyone but that only happens when it's really needed.

So, if there's no need for them to ask a player for KYC then they wouldn't do that. They'll only do that when something triggers them coming from that user like huge or unusual withdrawals or deposits.

Even still there are platforms who do really let or allow huge withdrawals without having those kind of requirements or sudden KYC which they could really be able to pull out those funds or huge wins with ease and its true
that those casinos are still that existing as of today and they arent really that asking for those KYC even hitting up some threshold as long they wont really be able to see some shady activity on users/gamblers part then it should really be just fine but we know that regulation becomes even more stricter with these kind of business or platform plus having that kind of impression that these businesses are needing some license to have some sort of security on which some gamblers are really that minding on and this is why they do prefer on seeing these platforms compared to those who dont have.

Taking up risks? They had been the first that exist on the market specially in talking about crypto related platform on which they had been long time or couple of years ahead compared into those
platforms which does have licensed or simply being regulated. Some do make out some adjustments and requiring themselves to be licensed and there are
ones who do really that remain still.

livingfree

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Nope. Not at all cases.

There are legitimate casinos that do maintain their posture for being a non KYC casino for some of their users that are clean on their activities. Yeah, it's typical that they should ask KYC for everyone but that only happens when it's really needed.

So, if there's no need for them to ask a player for KYC then they wouldn't do that. They'll only do that when something triggers them coming from that user like huge or unusual withdrawals or deposits.

jrrsparkles

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Quote from: Crypt0Gore on September 20, 2023, 04:12:59 AM

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?

There are still legit gamblers who are not comfortable with giving away their KYC information to someone and its acceptable too cause data is the new gold so you can't simply go with the trust of a site that may exist only for a few years.

Casinos can't operate if they are from the region where KYC/AML policies has become mandatory so casinos were forced to implement this rule in the first place even if they are against it but that is the situation so they are trying to survive with what they have and so for doing great as a sector.

Still there are craze for very few trusted non-KYC casinos but most of them don't have any bonus system which most gamblers don't like so yes it's possible but they are on the verge of implementing the rule at any time.

Topic: Are no KYC casinos taking risks? (Read 634 times)