Why Always KYC (Know Your Customer) Why NOT KYO(Know Your Owner)

audaciousbeing

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Quote from: lancer9848 on May 21, 2018, 10:19:10 AM

Guys why should only users have to provide identity why not the OWNERS who up and run them??? (are they gods?)

This is especially for the casinos which demands for user KYC documents.

Its time to make things even. kiddo edwardoo are you lurking??

The reason why this is happening is because we are the ones going to meet them and we are ruled by our greed as to the incentive we stand to gain from using their platform even though we might lose in the process, the chance and hope that we might win is what is really driving us to them which then puts them in the position of strength and when someone is in the position of strength, he dictates the terms and conditions of the arrangement.

The only person to call them to order and ask for all of those details is when we have a regulatory body that would ensure that the information they collect are not abused. I submit my details to the bank without knowing the board of directors simply because I know that there is another body overseeing their activities which is the Central Banks and that is what we need in this field if not for stiffing regulations, but for control and oversight.

Mastsetad

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Quote from: noah tall on June 08, 2018, 07:06:21 AM

Quote from: akishang on May 25, 2018, 10:12:07 AM

I think KYC is just natural for a business. Knowing who they are spending the money with is just normal for businesses. Business owners will never let other people know who they are for their own protection. And it doesn't make any sense to let others know about you just because you asked for KYC. I don't see the point of knowing the owner's info. KYC's are needed to avoid them from trouble of money laundering.

Both are important but not in gambling. Gambling is something different and you do not need to know the owner of casino. Gambling is not a job and there is no owner for you because you are not working in casino. KYC is important for casinos and other companies because the whole world is their customers and they should know their demands and needs.

In gambling there is no KYC but only know your owner especially in online gambling because if you do not know the facts about the site and they provide gambling platform in their site you should never trust them because many of such sites are scams and they pay nothing to their users. It is better to gambler in regular casino or quit gambling.

brightMan

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Quote from: gabmen on June 08, 2018, 07:57:07 AM

Quote from: lancer9848 on May 21, 2018, 10:19:10 AM

Guys why should only users have to provide identity why not the OWNERS who up and run them??? (are they gods?)

This is especially for the casinos which demands for user KYC documents.

Its time to make things even. kiddo edwardoo are you lurking??

Well they're the owners, they set the rules dude. That's the way things go in the world and we just have to live with it. With the number of users in a casino, the owners would have to secure their profit and limit bogus players. If you tell this to a casino owner, they'll likely just laugh it off and tell you that there are a lot of casinos to choose from

Yeah and it is right because casino is also keen about their security and authentication. A casino has many regular customers and they do not want any disturbance faced by their regular customers. That’s why they demand personal information before joining casino. It is good for their credibility, fairness and clean record. There is nothing wrong in it.

gabmen

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Quote from: lancer9848 on May 21, 2018, 10:19:10 AM

Guys why should only users have to provide identity why not the OWNERS who up and run them??? (are they gods?)

This is especially for the casinos which demands for user KYC documents.

Its time to make things even. kiddo edwardoo are you lurking??

Well they're the owners, they set the rules dude. That's the way things go in the world and we just have to live with it. With the number of users in a casino, the owners would have to secure their profit and limit bogus players. If you tell this to a casino owner, they'll likely just laugh it off and tell you that there are a lot of casinos to choose from

noah tall

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Quote from: akishang on May 25, 2018, 10:12:07 AM

I think KYC is just natural for a business. Knowing who they are spending the money with is just normal for businesses. Business owners will never let other people know who they are for their own protection. And it doesn't make any sense to let others know about you just because you asked for KYC. I don't see the point of knowing the owner's info. KYC's are needed to avoid them from trouble of money laundering.

Both are important but not in gambling. Gambling is something different and you do not need to know the owner of casino. Gambling is not a job and there is no owner for you because you are not working in casino. KYC is important for casinos and other companies because the whole world is their customers and they should know their demands and needs.

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Quote from: marlboroza on May 26, 2018, 05:37:27 PM

Quote from: JL421 on May 26, 2018, 04:11:19 PM

~
And also replying to your first reply well fortunejack doesn't have a licence and they still ask for kyc Roll Eyes

Funny part you still promote it

Interesting.
Thank you for bringing this question.
I had very nice and friendly chat with their support after this post.
They fixed wrong link, you can check and verify their license if you want.

This is like a wake up call for everyone because casinos demand a transparency then we should also so we know how safe and secure our identity. It's kinda unfair for the players not to know the real thing behind this online casinos. Hope not only thr Fortune jack will be open for transparency but all casinos.

iluvbitcoins

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Quote from: Digital_Lord on June 05, 2018, 05:37:10 AM

Quote from: eternalgloom on May 25, 2018, 07:20:15 AM

Really, just avoid casino's that ask for KYC, there's literally tons of other casino's out there that don't require you to offer them your identity.
I also think it's ludicrous that you have to offer them your identity documents, over a potentially insecure connection.

Even when we're dealing with small amounts, lower than $1000. Such a waste of time IMO

Know your customer doesn’t mean that casino wants your personal data. It means that they know how to treat their customers in better way so that they visit only that casino and tell his friends and other people about the positive attitude of the staff of casino. Know your customer is the key of success for any business in the world.

What the fuck are you talking about?
Do you even know what a KYC procedure is?
https://en.wikipedia.org/wiki/Know_your_customer

Digital_Lord

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Quote from: eternalgloom on May 25, 2018, 07:20:15 AM

Really, just avoid casino's that ask for KYC, there's literally tons of other casino's out there that don't require you to offer them your identity.
I also think it's ludicrous that you have to offer them your identity documents, over a potentially insecure connection.

Even when we're dealing with small amounts, lower than $1000. Such a waste of time IMO

Know your customer doesn’t mean that casino wants your personal data. It means that they know how to treat their customers in better way so that they visit only that casino and tell his friends and other people about the positive attitude of the staff of casino. Know your customer is the key of success for any business in the world.

Hamphser

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Quote from: btc-facebook on June 03, 2018, 12:29:51 PM

Maybe you can try to open your own gambling site and become their position. I'm sure that you will do the same, asking KYC.
For me , it's the law of nature but overall it's also depend on every country's policy on gambling site.

If they asking for KYC , it means that they are want to protect themself and learn from the past incident !

For sure you would comply the same thing because you are following countries law's. I know that gambling site owner knows on how gamblers do really mean their privacy but they dont have any choice but to ask KYC since its the protocol to be followed.If they wont then expect for them to be fined which we dont have any choice but to follow on what is being required.There are lots of gambling sites to chose if you dont like to expose your identity you can just step out and find another one. Knowing owners, you can make it thru research but whats the point on knowing them?

btc-facebook

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Maybe you can try to open your own gambling site and become their position. I'm sure that you will do the same, asking KYC.
For me , it's the law of nature but overall it's also depend on every country's policy on gambling site.

If they asking for KYC , it means that they are want to protect themself and learn from the past incident !

JL421

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Quote from: marlboroza on May 26, 2018, 05:37:27 PM

Quote from: JL421 on May 26, 2018, 04:11:19 PM

~
And also replying to your first reply well fortunejack doesn't have a licence and they still ask for kyc Roll Eyes

Funny part you still promote it

Interesting.
Thank you for bringing this question.
I had very nice and friendly chat with their support after this post.
They fixed wrong link, you can check and verify their license if you want.

Do you think we all are dumb just check on other forums it's so easy to get a legitmate license which is actually fake. Do you find it weird that the site itself didn't know the link they put is fake
I'm sure you are also aware of all the wrong things your site has done but you promote them so you can't really say anything against them

Aikidoka

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And why do you need to know the owner if everything is okay with the site? The owner trusts himself, but he does not trust you. So if you want to provide him with the required documents, go ahead. If not, then do not enter the website. Added to that, the owner is not always there online, there are the support team, the staff, managers, and so on. When you want to complain about something, complain it to the manager not the owner.

eternalgloom

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Quote from: joebrook on May 27, 2018, 04:21:59 PM

Quote from: FrueGreads on May 27, 2018, 07:25:50 AM

Isn't that the purpose of licenses for gambling sites? If a site has a license you should know where it's located and who the owner is, or at least the company that owns it, because in most of the times it's not a single person. If they have a license you should have all the information needed in order to open a case against them, if they ever cheat on you. The problem is that most users, at least in crypto, don't really care if the casino has a license or not, and don't even search for these things when they are gambling.

With the owner, they are mostly widely known since they have registered with the appropriate institutions everything about them is there for their customers to know and it's not like the owners are just taking the information, they are required by the law to get those information.

By which law? Laws are different around the world. You have plenty of casinos that do not require you to hand over your personal data.
That's why crypto is so great for gambling in the first place. You can play anonymously, without any requirements to hand over personal documents.

This whole KYC stuff is just ridiculous in my opinion. All in the name of preventing money laundering and stopping terrorism, while the majority of people use these services legally.
You're sending personal documents over the internet, often in very insecure ways. Don't be surprised if copies of your passport suddenly get offered for sale on darknet forums etc.

How do you think criminals commit identity theft? I would bet they do get their hands on stolen KYC documents from time to time.

ice18

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This casinos I know before entering this business already comply a required documents inorder to fully operate this kind of business its more long process before given any license than to conduct a KYC which can be done in an hour.

el kaka22

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Quote from: lancer9848 on May 21, 2018, 10:19:10 AM

Guys why should only users have to provide identity why not the OWNERS who up and run them??? (are they gods?)

This is especially for the casinos which demands for user KYC documents.

Its time to make things even. kiddo edwardoo are you lurking??

That is totally between them and the government where their jurisdictions lie. The KYC is a parameter given to them by the license and permit they had to get from the government. However, I believe there are a lot of casinos where the owners do not hide their identity to the public and some may do for security reasons which are best known to them. However, and unfortunately in life, things cannot always be even which is the reason we have odd numbers, don't you think?

Quote from: SyGambler on May 21, 2018, 03:11:11 PM

I'm ok with KYC when the owners are known and when you can make sure that your info won't be leaked or used for other purposes
most of the times I'm ok with sending my papers to the well known sites , like americascardroom and 5dimes but there are some bitcoin sites that ask for that without us even knowing the name of the owners which is not acceptable at all

Maybe it is high time for the government to make things equal as we have the right to also know who owns the casino that we make use of, either online or offline. I have not seen crypto gambling site that has ever asked for KYC though except I have just missed that, but in the short of it, we also deserve to know who owns those casinos as that will give room for sanity based on how some people are now turning it into a scam venture.

GoldenLad

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Hahaha. I wish something like that would be created. At least it will help reduce the amount of people getting scammed daily by some online casino. Even if the KYC is not too visible like the way the popular one is, it could also help. If this something like KYO, many fake casinos sites onwers can still create unlimited fake casino sites underground without its not easy
.... .

joebrook

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Quote from: FrueGreads on May 27, 2018, 07:25:50 AM

Isn't that the purpose of licenses for gambling sites? If a site has a license you should know where it's located and who the owner is, or at least the company that owns it, because in most of the times it's not a single person. If they have a license you should have all the information needed in order to open a case against them, if they ever cheat on you. The problem is that most users, at least in crypto, don't really care if the casino has a license or not, and don't even search for these things when they are gambling.

With the owner, they are mostly widely known since they have registered with the appropriate institutions everything about them is there for their customers to know and it's not like the owners are just taking the information, they are required by the law to get those information.

npredtorch

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It's the same with eating in a resto.
You need to follow the rules given by the owner or else go somewhere else.

The only thing that I could request for these casino owners is a proper introduction for the new users.
When I say introduction, it should contain all the rules and technicalities including the KYC's requested on a given event.
Users must be properly informed.

creeps

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Quote from: avikz on May 23, 2018, 05:34:23 PM

Quote from: lancer9848 on May 21, 2018, 10:19:10 AM

Guys why should only users have to provide identity why not the OWNERS who up and run them??? (are they gods?)

This is especially for the casinos which demands for user KYC documents.

Its time to make things even. kiddo edwardoo are you lurking??

Excellent! This is an excellent proposition. Why the end user would be worried always and why not the fake owners. Along with gambling, this is also needed in the ICO market as well. This process will actually bring back a lot of lost credibility back into the market. However, it is very hard to implement and we need a centralized agency who will carry on the validation for the common mass. But everything starts with an idea. Who knows, KYO may become a common practice in future.

In physical casinos usually they are being regulated by the government so you can know the owner there but since KYC is common in cryptomarket I really think we need the regulatory board to know more about the company and the owner of online gambling. Well, gambling is gambling even we know the owner and proves its credibility they will always be the real winner in the long run.

FrueGreads

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Isn't that the purpose of licenses for gambling sites? If a site has a license you should know where it's located and who the owner is, or at least the company that owns it, because in most of the times it's not a single person. If they have a license you should have all the information needed in order to open a case against them, if they ever cheat on you. The problem is that most users, at least in crypto, don't really care if the casino has a license or not, and don't even search for these things when they are gambling.

Topic: Why Always KYC (Know Your Customer) Why NOT KYO(Know Your Owner) (Read 664 times)