Casumo Source of Wealth issues

Louis

Dormant account
Joined
Oct 30, 2018
Location
Malta
Hi hi hello,

I appreciate all the questions and inputs that you've given in this thread so far. It definitely helps us in our efforts to constantly improve our product and our services, and for that I thank you. Whilst we are grateful for all the feedback I have to also realise my limitations when it comes to providing answers in this forum.

When it comes to verifying the Source Of Wealth (or any document for that matter) of our players, we do our best to ensure that this is done in a timely manner with as few delays as possible and in accordance with our legal obligations set out by governing bodies.

I do understand that it can feel like an annoying procedure when asked to provide these documents, but know that we are available to you 24/7 via Live Chat or via our support email should any questions in regards to this arise.

Should you have any questions in regards to the verification of your account, we are always happy to assist you in any way possible and ask that you contact us with your query either via our Live Chat or via email to hey@casumo.com and we will get back to you from there.

Kind regards,
Louis
 
Casumo is Reviewed at Casinomeister:

interlog

Meister Member
webmeister
PABnonaccred
MM
Joined
Mar 29, 2015
Location
London
Hi hi hello,

I appreciate all the questions and inputs that you've given in this thread so far. It definitely helps us in our efforts to constantly improve our product and our services, and for that I thank you. Whilst we are grateful for all the feedback I have to also realise my limitations when it comes to providing answers in this forum.

When it comes to verifying the Source Of Wealth (or any document for that matter) of our players, we do our best to ensure that this is done in a timely manner with as few delays as possible and in accordance with our legal obligations set out by governing bodies.

I do understand that it can feel like an annoying procedure when asked to provide these documents, but know that we are available to you 24/7 via Live Chat or via our support email should any questions in regards to this arise.

Should you have any questions in regards to the verification of your account, we are always happy to assist you in any way possible and ask that you contact us with your query either via our Live Chat or via email to hey@casumo.com and we will get back to you from there.

Kind regards,
Louis

So you haven't answered any generic questions then?

How about this one: why do you still allow a customer to deposit but not withdraw whilst SOW checks are pending?
 

dunover

Unofficial T&C's Editor
Staff member
webmeister
PABnonaccred
PABnononaccred
CAG
mm3
Joined
May 22, 2012
Location
the bus shelter, opposite GCHQ Benhall
"if funds are to be repaid, then the amount repaid should consist of all funds owed to the customer at the point that the SoW threshold was reached, plus all deposits made at that point and thereafter • funds should be refunded back to the originating account"

So there it is - the player should get the money back by right if they can't or won't complete it.

The exception to this is that if the casino has strong reasons to suspect proceeds of crime or ML.

It does seem kinda stupid that the regulations allow continued deposits AFTER the threshold is reached. So if someone was money laundering, they could continue to deposit, not play much and get it refunded by right unless the casino did a SAR and proceeded to suspect ML.
 

Mosse

Full Member
PABnononaccred
Joined
Jul 12, 2010
Location
finnlandia
Edit, sorry spam

Was going to ask that how long can @CasumoLouis and the casino play these games before they are sent to rogue gallery? Its 100% zero answers that @CasumoLouis is giving and at the same time players problems and this sow bs are HUGE...
 
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Joined
Feb 24, 2020
Location
Malta
Is this guy just taking the piss? Seriously baffled by the 2 threads the man has not answered a si gle basic question and there is a reason because he wont lambast the company that are putting food on his table albeit underhandly good lord!
 

SpinUk

Meister Member
PABnonaccred
MM
Joined
Oct 10, 2012
Location
London
"if funds are to be repaid, then the amount repaid should consist of all funds owed to the customer at the point that the SoW threshold was reached, plus all deposits made at that point and thereafter • funds should be refunded back to the originating account"

So there it is - the player should get the money back by right if they can't or won't complete it.

The exception to this is that if the casino has strong reasons to suspect proceeds of crime or ML.

It does seem kinda stupid that the regulations allow continued deposits AFTER the threshold is reached. So if someone was money laundering, they could continue to deposit, not play much and get it refunded by right unless the casino did a SAR and proceeded to suspect ML.

Correct. However, does this leave little loophole for a casino holding on to the funds indefinitely, in the name of proposing a SAR?

No it does not.

They can hold it for max 7 days and in very serious suspicion a maximum of 31 days:


“Persons and businesses generally, and not just those in the regulated sectors, may avail themselves of a defence against a principal money laundering or terrorist financing offences for a specified future activity that they believe may involve the proceeds of crime.

The NCA can provide a reporter with a defence to those offences, and the relevant power is contained in s335 of POCA (seeking ‘appropriate consent’) and s21ZA of TACT (seeking ‘prior consent’).

A reporter can submit a SAR, setting out their suspicion about the activity or the individual, the actual activity for which they seek a defence and details of the proceeds of crime.

The legislation gives the NCA seven working days to respond to the reporter, and if the decision is to provide a defence, then the reporter will receive an email with a letter informing them of the decision.

Where the NCA decides to refuses the reporter a defence, the activity must not proceed for a further 31 calendar days; or, if earlier, until further notified by the NCA. When the NCA has made a decision to refuse, the reporter will be telephoned with the decision and receive an email with a letter informing them of the decision.

Further information is available in a separate document published on the NCA website (
You do not have permission to view link Log in or register now.
) entitled ‘Requesting a Defence Under POCA or TACT’; this provides information on the process to be followed and what to expect if you wish to apply to the NCA for a defence”.

Also to give you an idea on what is actually a serious suspicion, the NCA would piss their pants with laughter if Casumo sent anything than 5, and more like 6 figures of deposits in a very short period from a suspicious source (e.g offshore accounts) on grounds of suspicion.

So there is absolutely - and legally - no defence of Casumo holding onto funds for more than a month.
 

goatwack

Get dunked, big buns!
Joined
Aug 29, 2012
Location
Londonia
Little wonder some might be getting irate at the handling of this to be fair.

Here it's "Look at the dedicated Q & A thread and ask there", and over there it's "May as well shut this one as it's mirroring the SoW thread"

Then it's "Hypothetical questions can be asked in private"

Followed by "CS is available 24/7", "Can't delve into specifics" and no direct answers to the actual questions posed. Almost stock answers.

Where's that bridge of communication with a brand-representative when all one gets is politician answers.

And why is the other thread even still 'open' too? This has become more convoluted and unresolved than Brexit, there I said it
 

Speedy38

Experienced Member
Joined
Nov 23, 2019
Location
Nl
Please do not flame casino reps nor anyone else for that matter in this forum. Thank you.
Please do not flame casino reps nor anyone else for that matter in this forum. Thank you.
i dont want to be disrespectfull, but this thread is for people that want to ask something. Still no answers from Casumo so whats the point off this thread then? Further I think its very disrespectfull that Casumo is making money on a very bad way (with what they named Sow) i think people should have to say How they think about that but thats How I think about it. People the only way to resolve this problem is, dont play at Casumo anymore!
 

Lobo

Repeated violations of rule 1.18 - being a PITA
PABnoaccred2
Joined
Apr 21, 2018
Location
Scandinavia
Great research @SpinUk :)

No wonder why Casumo don't answer any SoW related questions what so ever.
I think they know very well that they are (possible) breaching a bunch of rules, but it went way to far too quickly for them to have any damage control. So they choose to remain silent and hope it pass.
If they choose to answer specific questions public (and actually admit that they did wrong) that will effect a bunch of cases. My case f.ex.
I took a quick Google search, and Casumo has many SoW threads on forums all over internet, where they are holding money as ransom until f.ex 3. party ID's are sent in.
 

wesleyhoulihan

Newbie member
PABnoaccred
Joined
Sep 17, 2018
Location
UK
Casumo are currently withholding £15k from me for over a month now due to SoW. I deposited £14k over January and Feb which was no problem apparently but when I tried to withdraw I was hit with this. I sent them documentation including payslips but apparently they weren't enough to show my deposit level in those 2 months. (40k salary + bonus) I tried to explain that I don't pay rent and get expense allowances to which they wanted proof from my employer that this is the case. Now for one thing it's difficult to prove that you DON'T pay for something and I work for a reputable consulting firm, I'm not going to ask them to confirm my situation for a casino. So the battle goes on. Honestly, this boggles the mind. Infuriating.
 

Lobo

Repeated violations of rule 1.18 - being a PITA
PABnoaccred2
Joined
Apr 21, 2018
Location
Scandinavia
Casumo are currently withholding £15k from me for over a month now due to SoW. I deposited £14k over January and Feb which was no problem apparently but when I tried to withdraw I was hit with this. I sent them documentation including payslips but apparently they weren't enough to show my deposit level in those 2 months. (40k salary + bonus) I tried to explain that I don't pay rent and get expense allowances to which they wanted proof from my employer that this is the case. Now for one thing it's difficult to prove that you DON'T pay for something and I work for a reputable consulting firm, I'm not going to ask them to confirm my situation for a casino. So the battle goes on. Honestly, this boggles the mind. Infuriating.
I am very sorry to hear that, @wesleyhoulihan
I know it doesnt help you much, but you are not alone fighting against Casumo's SoW policy.

I recommend you starting a new thread with your case so it doenst drown on page 18 of this one.
That way it will be easier to try helping you :)

And, Casumo has a great rep here that answers all your questions - @CasumoLouis - he even opened up his own Q&A thread a couple days ago.
 

Iamfozzzz

Newbie member
PABaccred
Joined
Feb 25, 2020
Location
Bournemouth
Hi everyone!

So over 2 months after my original attempt to withdrawal I have finally received my money from Casumo!
I dont know if the PAB helped but a massive thank you to Max and the team either way.
I had to send in 8 months worth of bank statements to Casumo :eek2: as they were requesting affordability back in autumn last year!
What should have been a week or two maximum they dragged it out over 2 months.
I will now never play online again, it's just not worth the hassle anymore.
Once again thank you all for your help on this.
If you want one word of advice from me, stay away from Casumo, I thought they were once one of the best out there but they are not.

Mark
 

Iamfozzzz

Newbie member
PABaccred
Joined
Feb 25, 2020
Location
Bournemouth
Casumo are currently withholding £15k from me for over a month now due to SoW. I deposited £14k over January and Feb which was no problem apparently but when I tried to withdraw I was hit with this. I sent them documentation including payslips but apparently they weren't enough to show my deposit level in those 2 months. (40k salary + bonus) I tried to explain that I don't pay rent and get expense allowances to which they wanted proof from my employer that this is the case. Now for one thing it's difficult to prove that you DON'T pay for something and I work for a reputable consulting firm, I'm not going to ask them to confirm my situation for a casino. So the battle goes on. Honestly, this boggles the mind. Infuriating.

Welcome to the long winded journey.

Stop posting in this thread and open a PAB up. Be prepared to get angry and stressed out but be persistent.
Send them a years worth of bank statements to be safe.
You may have to self excluded on casumo which is what I done, I think this forced their had to pay the money.
Hang in there and keep sending them evidence. Do not send them anything from a third party, they asked me for mortage payments etc from my parents. It didnt happen.
Good luck pal
 

mack341

Senior Member
Joined
May 8, 2018
Location
south east england
Hi everyone!

So over 2 months after my original attempt to withdrawal I have finally received my money from Casumo!
I dont know if the PAB helped but a massive thank you to Max and the team either way.
I had to send in 8 months worth of bank statements to Casumo :eek2: as they were requesting affordability back in autumn last year!
What should have been a week or two maximum they dragged it out over 2 months.
I will now never play online again, it's just not worth the hassle anymore.
Once again thank you all for your help on this.
If you want one word of advice from me, stay away from Casumo, I thought they were once one of the best out there but they are not.

Mark

haven't you had a conclusion to the PAB then?

Don't get me wrong I'm pleased you received your money, but I was looking forward to a decision whether it was right to hold onto your money until you provided your parent's mortgage docs etc..
 

Luckyscouser45

Head honcho
MM
Joined
Aug 13, 2018
Location
No mans land
Hi everyone!

So over 2 months after my original attempt to withdrawal I have finally received my money from Casumo!
I dont know if the PAB helped but a massive thank you to Max and the team either way.
I had to send in 8 months worth of bank statements to Casumo :eek2: as they were requesting affordability back in autumn last year!
What should have been a week or two maximum they dragged it out over 2 months.
I will now never play online again, it's just not worth the hassle anymore.
Once again thank you all for your help on this.
If you want one word of advice from me, stay away from Casumo, I thought they were once one of the best out there but they are not.

Mark
Is right mate
 

colinsunderland

Experienced Member
webmeister
MM
Joined
Jan 28, 2016
Location
uk
Hi everyone!

So over 2 months after my original attempt to withdrawal I have finally received my money from Casumo!
I dont know if the PAB helped but a massive thank you to Max and the team either way.
I had to send in 8 months worth of bank statements to Casumo :eek2: as they were requesting affordability back in autumn last year!
What should have been a week or two maximum they dragged it out over 2 months.
I will now never play online again, it's just not worth the hassle anymore.
Once again thank you all for your help on this.
If you want one word of advice from me, stay away from Casumo, I thought they were once one of the best out there but they are not.

Mark

Well done. Did they not force you to supply more documents relating to third parties then?
 

Lobo

Repeated violations of rule 1.18 - being a PITA
PABnoaccred2
Joined
Apr 21, 2018
Location
Scandinavia
Hi everyone!

So over 2 months after my original attempt to withdrawal I have finally received my money from Casumo!
I dont know if the PAB helped but a massive thank you to Max and the team either way.
I had to send in 8 months worth of bank statements to Casumo :eek2: as they were requesting affordability back in autumn last year!
What should have been a week or two maximum they dragged it out over 2 months.
I will now never play online again, it's just not worth the hassle anymore.
Once again thank you all for your help on this.
If you want one word of advice from me, stay away from Casumo, I thought they were once one of the best out there but they are not.

Mark
Very good news. Congratz :) Wish I was as patient as you :rolleyes:
Will we get a statement from @maxd or Casinomeister on this PAB?
 
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