UK online casino players are obliged to go through the KYC process every time they sign up for a UKGC licensed casino. What is this and why do you pass it? WHAT DOES KYC MEAN?
The acronym KYC stands for Know Your Customer, which is a process used to verify a customer’s identity. This kind of identity checks is pretty common around the world. For certain businesses it's just an option to prevent problems with customers. But for the online gambling industry, KYC procedures are mandatory. British gambling legislative body, the UK Gambling Commission, made gambling operators legally obligated to perform KYC procedures with every new player signing up for their casino. KYC REQUIREMENTS UK Online casinos have always been obligated to verify customer identities. It’s a requirement to obtain a UK gambling license. However, the UK Gambling Commission now requires online casinos to go through the KYC process immediately after players sign up for accounts and before they deposit or withdraw funds. These tighter regulations went into effect in 2019. Prior to this, online casinos were given 72 hours to verify player identities after they registered. In that three-day window, players were allowed to make deposits and sometimes even allowed to withdraw funds. The new rules are an attempt to prevent underage gambling and to further crackdown on money laundering. Online casinos in the UK are required to:
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April 2021
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