Topic: Well done KYC. - page 5. (Read 1857 times)

KYC helped to track criminality faster even though sometimes casino abuse it, there is a good side of coin about kyc and this is just one of it. Imagine there is no kyc on the account that asked for deposit, the kidnapper would have run away and be on one side chilling with the money and crime free and he will even have the audacity to repeated the same crime again because he wasn't caught for the first time, it will be easy for him to try the second time.

I think casino need to implement limit as well to some of their customers account too. This will save them the stress of investigation. Imagine if that guy was able to pass that kyc, he will move out the money quickly and it might be late to stop him but putting limit on withdrawals will also save them this kind of trouble or better still implement wager atleast one game as some other casino does to avoid money laundering, this is clearly a case of money laundering through the casino.

A very sad situation that affected on which their daughter was killed by some psycho, it is true that is completely addicted to gambling. Whoever hacks here will demand the ransom and transfer the money to the gambling account. There are many people who will become uninhibited and will even lose their account due to falling into these traps. However, kyc is a very good step because we can easily trace criminals through it. If there is kyc then legal action can also be taken.

I will say KYC played an important role here but the downside of KYC outshine the good side and more over, the guys were dumb to think of this way. I don't know how he was able to do this but I know that once you do a kyc with a casino and you make deposits into the casino through bank account, you wouldn't be allow to withdraw to another different accounts unless you used account that was used for deposit unless this policy has been change recently.

Casino also set a standard because of things like this and also money laundering, so whenever you make a deposits into any casino, you wouldn't be allow to withdraw the money until you bet that money atleast one time before you are allow to make a withdrawal. It was very stupid move but since it was a bad person, I'm more than happy he was caught so other potential kidnappers or those thinking the same can retract from doing it.

It is certainly a very sad story and expresses the horror of some criminal minds, as there is no reasonable explanation for why a kidnapper would kill his victim despite his success in obtaining the ransom he wanted and in the way he preferred. I express my condolences and solidarity with the victim's family. 💔💔

In this incident, the KYC protocol was used to reveal the data of a stupid criminal. The authorities can use this incident to justify the law requiring casinos to impose KYC procedures on their users, in addition to other reasons related to suspicions of money laundering or financing criminal activities.

But can we count the cases in which similar crimes occur? They hardly occur because the criminal is stupid and it cannot be the best way to receive ransom money. As for other criminal activities, are there still those who use centralized casinos as a mixer or bridge to facilitate the movement of money? There are certainly cases, but they are very few.

I am not calling for the abolition of KYC procedures, but I want to emphasize the real purpose behind them, which is for the authorities to monitor the financial activities of casinos and citizens using these platforms. At the same time, we can no longer blame the authorities for this, because those who do not want their privacy to be violated have other alternatives such as decentralized platforms based on crypto or real casinos.

People do really just love on looking into the negative side of things and not really that trying out to look into its benefits or the good side on which it do really shows into this kind of
situation on which it will really be that understandable that if there would really be that a crime that do happen and since informations is been known or leaked out then there's chance on catching up that criminal.

Just like on what others been saying that certain criminal/murderer is really just that too dumb on what he had done on which trying out to get that ransom money on a gambling account
without even trying to think up that its been done in KYC then he had put himself into a trap but well just like been said that its really that good that he had made out such mistake
because he had been caught and its really just that a right thing rather than this one is really that freely roaming around and having no justice into the crime that he had done.

How naive was he to think that moving the funds to his casino account was considered safe and untraceable? Thankfully, as expected, the casino stepped in and asked for verification, instantly revealing all his personal details and his location. Although I understand the need for privacy and people who are unwilling to submit their personal information, sometimes it's a necessary evil. Unfortunately, the aftermath of this story is that an innocent person was killed, and nothing can change that; at least the authorities acted quickly and caught him.

Well, that's very true, the ones who prefer privacy are strictly against KYC and such measures and to be honest I'm also someone who tries to avoid KYC as much as possible but when it becomes a mandatory requirement for platforms that I use then I don't hesitate to complete my KYC, and get KYC verified on those platforms. In this case KYC because the tool to catch that criminal and I'm pretty sure that it can be a good tool to catch such criminals.

It seems that this is still a fairly hot debate between having KYC and it is better not to do KYC on gambling platforms, basically both views have good and bad, like what is in the OP or news story, it is quite helpful to see the identity of the person who committed the crime by using the casino as a tool for him to launch his crime by depositing his money into the gambling wallet, if the casino does not ask for KYC veryfication maybe the money will disappear without a trace and the perpetrator will be safe, because if it is out of the casino the money will be free and use the mixer to eliminate its traces.

I agree with this KYC, although there are some things that I do not agree with, but this policy is a pretty good policy for security and order, the important thing is that we are in a safe and regulated casino so that the government can guarantee that the casino is safe.

If you look at it from the good side, the stipulation of KYC is very good and it is quite effective in reducing money laundering crimes that use gambling as their hiding place, and yes on the other hand the government can also protect its people in every casino that operates, and the most beneficial thing is that the state can have additional revenue from the legalization of KYC in every casino, because with KYC required, the public can assume that casinos that do not apply it are considered illegitimate and do not comply with government regulations then it can be assumed that such casinos are illegal (seen from the public view).

Kyc is risky and also kyc help us to catch many criminals. on this story kyc are help to catch this criminal this is definitely a good side. but many time if we choice this scam gambling site and pass the KYC verification then they sell our personal data. or they can use our data for any others illegal activities so that can bring a big danger for us. many criminals are want to buy some documents to pass KYC verification on there legal activities. for example In this story, if the criminal got the chance, he would have protected himself by completing kyc verification with fake documents. Because no one wants to put themselves in danger.

If this killer had demanded a ransom in one of the private cryptocurrencies for a new wallet and knew how to keep his privacy, he would have been much harder to find in all likelihood. He just turned out to be a fool for using a casino account to do such a thing. That's why he was found so quickly.

In fact, as long as there is cash and private cryptocurrencies, crime will continue to flourish and KYC will not help. He would have been easily traced by IP address as well.

Some of the government related to criminal but we don't know who they are. The government want to watch out and monitor their people so they requires casino and other businesses ask their members to do KYC. That will be a way as a check for all people inside the business and make sure that there is no illegal thing in the gambling industry and other industries.

The government can not open 100% but some should be hide from the public. If we want to do KYC, we must ensure that we do in the right place. That is a job that we must do to avoid the scam or other bad things.

But if we KYC in the right place, that will help us if there is something wrong happen to us like in the story.

Indeed, it's a good thing that the gambling system was able to help the government combat crime of this such.  And the government needs to do better with being transparent with their information, at least if they are transparent to the citizens, people will not be scared of putting their information online.

A lot of gamblers are really scared of having their information out there because these are online sites and you don't know who is handling the data, so they really hesitate before putting their data out there.

Which  using your data can be used to save your account, like you have a password and information that is only known to you
So it's a really good way of securing a gamblers account, because you have things like your two-step authenticator factor.

We will just hope with time it will become a two-way privacy transparency policy or something of that nature, so citizens will be comfortable with submitting their data knowing that it is in safe hands of the government.

They thought hamsters would make them suddenly rich, so they willingly gave out private information. They are given peanuts for selling their privacy and investing so much time and resources. 57% of its 300 million users were disqualified from having the token allocation with the developers claiming that they cheated the system. Some of them in my street who had so much confidence in Hamster Kombat looked dejected and solemn. They now know that they have been scammed.

Apart from information concerning the security of the country, citizens should have unhindered access to the information of the government. But the government will keep the personal information of politicians secret and call it classified documents. You will have to go to court to force the government to release it. And it is still the government that controls the court.

I really appreciate that this system helped a criminal to get what he deserves but the government is not really doing it to reduce the crimes, they just don't want the people to get out of their hands and it affect the remaining 99.99% of people for nothing. We can't do anything about that because that's how the government always wanted to keep their citizens and casinos can't do anything apart from agreeing whatever regulations are there comply.

if it goes like that, everything will be fine. so there will be trust from the people in their government too. not only the government has the right to know the information and activities of its people.

unfortunately, maybe that can't happen completely. the government as the authority holder of course has a way of regulating everything to be able to see any activities and information that we do. all bank data they can see, our activities on the platform that exists on our smartphone require KYC verification. we can't really get away from KYC.

The thing is, the casino and the government want to see all of our information, activity etc but we're not allowed to demand back their whole information, activity etc. What if they're the criminal? we have no proof because the government aren't being transparent with everything they have.

If the government don't mind for being 100% transparent, the citizen will trust with them and don't mind to submit KYC.

Not because of selfish reasons that made some people not to prefer KYC. Bitcoin and most altcoins can be traced online. If the coins are linked to you through KYC and hackers breached the data, this could become a threat as the people can be visited by thieves. The hackers can sell the data to the thieves.

The crimes with fiat is still far more than the crimes in crypto.

OK, now this is a very good and valid reason why kyc is very important, online kyc possibly have more advantage than it's disadvantages, but often times, we tend to pay more attention to the disadvantages of this simply due to our very own selfish reason.

I've often said that without online kyc, we possibly would have more criminals online, much more than legitimate online users.
So, if really we should remove sentiments, emotions, selfishness and other vices, online kyc helps prevent alot of crimes in our society, but then, most will never agree because they simply hate the stress of going through it or for other reasons, which for me, I call (again) selfish.

Well, you can expect a leak of data from at least those who so desperately believed in the hamster and today receive pennies for what one might say was a gift of their data to the exchanges. I did not expect anything other than data collection from this company, and where all this will go now can be easily guessed. Soon, they will reimburse themselves for everything they paid to those who wanted to suddenly become rich by selling their data.