Rizk Source of Wealth Bullshit!

mack341

Senior Member
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Location
south east england
When some DEA agents busted a Mexican drug cartel, ten years ago, without consulting their colleagues at the CIA and FBI, it precipitated the exposure of the Wells Fargo Bank money laundering scandal, which in turn caused a sudden shortage of liquidity in the credit markets, which hastened the 'credit crunch' crisis of 2008.

The credit crunch was on the cards anyway, because of all the bad loans, but this inadvertent DEA bust brought it forward somewhat, and made it a real crisis, even for our controllers. The point I am making is that the international banking system relies on drug money to keep the machine rolling forward. They just don't want the little guy to grab a piece of the action, because they don't like competition, basically, it erodes their margins.

Interesting, I never knew about this wells fargo scandal, just shows you how the press minimise some stories while others get on every front page. I will need to read up about this, as it connects with the story of the US journalist gary webb [from time magazine : "Webb wrote a series of three articles for the San Jose Mercury News in 1996 dubbed “Dark Alliance.” In his report, Webb — who had won a Pulitzer in 1989 for a different story — claimed that the CIA was partly responsible for bringing crack cocaine to the United States in the 1980s...."]
 

interlog

Meister Member
webmeister
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Location
London
would there really be any serious money launderers who are not using bitcoin or some other crypto currency,

I was going to say the same.

Surely if you are to go and launder money, you use the anonymity of bitcoin and the likes.

If casinos or the UKGC were to be serious about money laundering, they would stop such deposit/withdrawal methods?
 

slotter999

Dormant account
Joined
Oct 22, 2013
Location
UK
I was going to say the same.

Surely if you are to go and launder money, you use the anonymity of bitcoin and the likes.

If casinos or the UKGC were to be serious about money laundering, they would stop such deposit/withdrawal methods?

Going slightly off topic here but are there any UKGC licensed casinos accepting bitcoins? Given the requirement to segregate funds I don't see how this is possible.
 

interlog

Meister Member
webmeister
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Going slightly off topic here but are there any UKGC licensed casinos accepting bitcoins? Given the requirement to segregate funds I don't see how this is possible.

A quick Google search reveals:

888 Casino
Bet 365
Sky Casino
Betway Casino
Virgin Games
 

SpinUk

Meister Member
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MM
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Location
London
A will doesn't prove anything though, it doesn't have amounts, or even prove someone has died yet!

Regarding ML, its not just that, it can be benefit fraud or even not claiming benefits, but working cash in hand for some hours and not paying tax on it. However, if the funds are coming from a bank account then people must be extremely stupid, as they have paid them in, therefore there is a trace of them.
If it can only be withdrawn to the same place it came from then it pretty much wipes out money laundering concerns. If it comes from a bank, then they should be the ones doing the SOW checks if there is any suspicion about the funds.

You can quite easily money launder through someone like Coral though. Pay £1000 into your account, cash instore.
Deposit £10 using your bank card.
Withdraw £1000 using your bank card.
Questions, yeah I won it at Coral, look, theres the deposit, next day I got my winnings.
I've left a couple of steps out that you need to be 100% sure you won't get caught, to stop anyone doing it ;) but thats the basic principle.

Apart from you just audit trailed the £1000 cash deposit from Coral’s side in an account with your name on.
 

slotter999

Dormant account
Joined
Oct 22, 2013
Location
UK
A quick Google search reveals:

888 Casino
Bet 365
Sky Casino
Betway Casino
Virgin Games

I don't believe any of them accept bitcoin deposits directly. Some outline how you can use bitcoins to fund neteller which in turn is used to fund your account but that's not the same thing.
 

colinsunderland

Experienced Member
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Location
uk
Apart from you just audit trailed the £1000 cash deposit from Coral’s side in an account with your name on.

As I say, couple of missing steps ;)
Wouldn't work for certain types of money laundering but for the lower level it certainly does.
 

geordiecolin

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Im starting to feel like they view as me as some kind of criminal and i dont like it one bit. Soon as this shite situation is sorted they can close my account. I dont need this bullshit.

Be warned dont deposit too much or win too much at Rizk right now as they will be straight onto your back.

I am finding myself in the same situation as you. But in my case I can not even log into the site after I requested a withdrawal. I was not sent a message requesting that they required a Source of Wealth Check or that my withdrawal request was suspended. It was not until I contacted live support that I was informed and that has eaten up 3 of the 5 days time frame requested.
My income comes from several legitimate sources which would cause me headaches to provide and besides that I am not happy in handing over such personal information.
I have contacted there new rep in here regarding obtaining my withdrawal and closing my account without disclosing the details they request
I'm not happy because I really like Rizk and their customer care and support
 

Jasminebed

Game old gal
Joined
Mar 13, 2008
Location
Ontario
I am sorry you are going through this.

Do I understand correctly that they require you to send this within 5 days?

Very poor form to have not communicated with you, but relying on you to chase it up.
 

Borgie

Paleo Meister (means really, really old)
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I am sorry you are going through this.

Do I understand correctly that they require you to send this within 5 days?

Very poor form to have not communicated with you, but relying on you to chase it up.

As i understand it they didnt ask at all . Just seemingly hoped the 5 day deadline would expire .

How were you supposed to know they wanted this info.

I also don't understand why only 5 days?
 

colinsunderland

Experienced Member
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Location
uk
I am finding myself in the same situation as you. But in my case I can not even log into the site after I requested a withdrawal. I was not sent a message requesting that they required a Source of Wealth Check or that my withdrawal request was suspended. It was not until I contacted live support that I was informed and that has eaten up 3 of the 5 days time frame requested.
My income comes from several legitimate sources which would cause me headaches to provide and besides that I am not happy in handing over such personal information.
I have contacted there new rep in here regarding obtaining my withdrawal and closing my account without disclosing the details they request
I'm not happy because I really like Rizk and their customer care and support

So despite Captain Rizk stating months ago this wouldn't be done on withdrawal, they still are?
Yeah hold players to ransom, well done Rizk.
 

geordiecolin

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Location
Near Newcastle
Casinomeister posted in post 333 ( I can not directly reply to this post as when I view the text presented when I try and use "reply" I am met by a heavily altered text?)


"From the casino rep: "....

"...the biggest problem here was that it appeared that the documentation request was triggered by a withdrawal request. It was not, it was triggered by his deposits, unfortunately his withdrawal request came before the documentation request was received by him. We are introducing functionality this week that, once a documentation request is triggered by deposit, then the player will be unable to deposit further or even play any games and should mean that we do not have this situation in future..."


They have not introduced any such function after all of these months.

The document requests where not presented to me via any form until a few days later when I went to check on my withdrawal status as I had not had any kind of message from them. Usually I very quickly get a "Withdrawal processed " message.
I had deposited over at least one day prior to the day my last deposits eventually secured a withdrawal request. If the above had been implemented then I would have been given an indication either the day before on my first deposits or on the next day when I made further deposits. In the event neither happened.
I only found out about their wanting SOW docs a few days after my withdrawal requests after I found I was locked out of Rizk and then contacted their live support.
 
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geordiecolin

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So despite Captain Rizk stating months ago this wouldn't be done on withdrawal, they still are?
Yeah hold players to ransom, well done Rizk.
That is the situation,yes

Forgive me for being behind still. I am still taking in all of the pages of this thread while watching sport on tv as well as other stuff
 

aceking123

Paleo Meister (means really, really old)
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uk
So why continue to play at rizk considering you know that they have clearly not sorted stuff out, anything that was to do with mt secure i would not recommend in any shape or form. I closed all accounts after i was mislead from guts casino.
 

geordiecolin

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So why continue to play at rizk considering you know that they have clearly not sorted stuff out, anything that was to dobwith mt secure i would not recommend innany shape or form.

What makes you think that I/ We know that they have not addressed these issues given that

1. This thread is many months old so no new issues have been highlighted for some time?

2. Given the statement I have highlighted above which states the time of the fix was supposedly implemented over 7 months ago?
 

aceking123

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What makes you think that I/ We know that they have not addressed these issues given that

1. This thread is many months old so no new issues have been highlighted for some time?

2. Given the statement I have highlighted above which states the time of the fix was supposedly implemented over 7 months ago?

Pure & simple colin many of these casinos are lazy, you wonder why online has such a shit reputation, clearly colin your not a novice player infact a well educated player. Yet you continue to play at rizk.

To add all i see with these casinos is greed & money. Nothing else matters, it may do if they get a super massive fine.
 

geordiecolin

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Pure & simple colin many of these casinos are lazy, you wonder why online has such a shit reputation, clearly colin your not a novice player infact a well educated player. Yet you continue to play at rizk.

You are obviously ignoring Rizks deserved reputation in CM,their very high accreditation score and their usual willingness to assist with any issues we have. Not to mention their fantastic promotions and giveaways in Casinomeister.
Despite any issues that may stem from this they are a very worthy accredited casino IMO
 
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aceking123

Paleo Meister (means really, really old)
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uk
Any casino that cannot sort out in house issues doesnt deserve respect including rizk.

i shall say,not such the casino but more to do with mt secure, guts & rizk have been connected in early days & both use the same systems for SOW, captain has my respect because at least he tried to help.
 

colinsunderland

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So why continue to play at rizk considering you know that they have clearly not sorted stuff out, anything that was to do with mt secure i would not recommend in any shape or form. I closed all accounts after i was mislead from guts casino.

I closed mine after I highlighted a data breach they then denied until I showed them proof, and after the head of legal emailed me another customers full details.
If the head of their legal department cannot keep data safe then how can anyone else.
 

geordiecolin

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Colin has some valid points here. I understand Bryan. But feel on this occasion rizk has indeed abused the system. You cannot ignore that rizk timing or any otherspin they want to say.

They did in fact hold the player to ransom at withdrawal point.

This should not go unnoticed by players.

It's not pitchforks or mobs. I've seen the whole thread since start & not convinced that rizk played by rules.

I hope some lessons learned here shall educate some of the other casinos.

It appears that nothing was learnt and history is repeating itself after 7 months. I did follow this thread at the time but the fact it is happening still after the promise of new safeguards makes things so much worse
 

geordiecolin

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As mentioned earlier in the thread, I cannot and will not go into specifics about the Deplay situation as that is confidential information. This includes answering specific questions about this situation

However what i can say around SoW is that we have followed ALL of the guidelines that have been given to us as they have been given by the UKGC. In general we pride ourselves on trying to process withdrawals as fast as we possibly can and therefore we do not look for or find excuses NOT to process them - this goes against our entire ethos and to suggest anything other is completely untrue.

Could things have been done better? Absolutely.
Are we rolling out changes that will make this process more transparent and fairer? Absolutely

We have started rolling out these changes brand by brand and Rizk is scheduled to go live early next week. What this will mean is that the moment an alert is tripped or a threshold triggered, the player will not be able to play or deposit any further. Is this slightly draconian, maybe, however we believe that this is the best solution (for now) that we can find to a very difficult situation, and that as we move forward with these new guidelines we will continue to learn and adapt as necessary with the aim to make our customer experience as smooth as we possibly can.

This from the Captain himself seven months ago ( who I hugely respect and even had a drink with at a Meister meet)
This was not my experience at all. No message request received and no game was blocked to indicate any issue.
 

geordiecolin

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Nobody from Rizk going to comment?

I feel like a right trouble maker. First I have been highlighting the fact that Betway are advertising a £30 deposit deal predominantly on the sign in page a month long xmas calendar that since its start on the 1st Dec no one can access. Now this. All I want to do is have a bit of fun then move on to until my next deposit
 
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