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Source of Wealth - new requirement by casinos?

Discussion in 'Online Casinos' started by CasinoNinja, Nov 28, 2017.

    Nov 28, 2017
  1. CasinoNinja

    CasinoNinja Experienced Member

    Location:
    UK
    Just received an email from Rizk, from the loyalty team which is ironic as they have been dead quiet to me for months..

    Anyway, apparently I have to Confirm where my funds are coming from by completing a Source of Wealth tickbox, they say it's a new EU regulation.
    I don't mind, but I think it's getting a bit too much asking for all this information from us..
     
  2. Nov 28, 2017
  3. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    The regulations I read (which may have been uk specific, I can't remember) state casinos have to do this if the player is a high risk for money laundering.

    Was it just tick boxes and you didn't have to send any further documents, tick boxes I have no problem with, sending payslips and bank statements I do!
     
  4. Nov 28, 2017
  5. CasinoNinja

    CasinoNinja Experienced Member

    Location:
    UK
    It's just this, no need to prove anything.

    Source of Wealth - new requirement by casinos?: Source of wealth.PNG,Nov 28, 2017
     
  6. Nov 28, 2017
  7. miksaxxx

    miksaxxx Senior Member

    Occupation:
    Computer related
    Location:
    Finland
    Put in that " Other ":

    with fraud :thumbsup:
     
  8. Nov 28, 2017
  9. geordiecolin

    geordiecolin Sells powdered water in the Gobi CAG PABnononaccred mm4

    Occupation:
    Manager
    Location:
    West Sussex
    Would stating "successful online gambler" in the "other" box work in your favour or against you? :confused:
     
  10. Nov 28, 2017
  11. Vibroverb

    Vibroverb Experienced Member

    Location:
    Europe
    so why are you a player of high risk for money laundering? Or if they got that wrong, they're unlikely to give up just by you telling them so, so it sounds like a lot of hassle for the players, which is what the casinos want. I suspect this will become more frequent, and they'll find another excuse other than high risk of money laundering.

    In my opinion, it is extremely offensive and hypocritical of Casinos to ask that of players that are not criminals. Can the Casinos confirm none of their money is not from fraudulent sources?
     
  12. Nov 28, 2017
  13. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    From the Casinomeister Newsletter: 25 November 2015 Malta iGaming Seminar report

     
  14. Nov 28, 2017
  15. ed skull murphy

    ed skull murphy Trollish behavior - quit the forum

    Occupation:
    N/A
    Location:
    Albion
    They'd probably close you down as a risk to their bottom line.:)

    I think I put 'Alchemy' down as mine.
     
  16. Nov 28, 2017
  17. goatwack

    goatwack Calendar Time for Buddy CAG

    Occupation:
    Stuntman
    Location:
    Londonia
    Those bloody sneaky 'Other' boxes :mad:

    The number of times I've put 'Money Launderer' in those, I swear they do it on purpose :eek:
     
  18. Nov 28, 2017
  19. Jono777

    Jono777 Meister Member CAG mm4 mm1

    Occupation:
    Self- Employeed
    Location:
    Wolverhampton
    My only concern and it is a small one is will they go totally overboard with this....

    I don't have an issue with sending maybe the odd payslip here or there or the odd bank statement showing funds going in maybe once. BUT I won't be overly happy about it as has been said too intrusive.

    My point also being that my (and many, many others for that matter) deposits are usually £25 per casino, per session, maybe 5 time a week. (less if losing lol)

    If indeed this new rule/law is AML based then surely I and other low rollers would never be troubled with this request, I mean who in their right mind would launder @ £25 a time :rolleyes:
     
    Last edited: Nov 28, 2017
  20. Nov 28, 2017
  21. Vibroverb

    Vibroverb Experienced Member

    Location:
    Europe
    But what do they determine increases a players risk of money laundering? Is it his deposit amounts, game play, country of origin, etc that would arouse suspicion?

    If none of the above, than any player can be subject to it, random safety procedure...I have not experienced this yet, but I would be willing to take my playing elsewhere. I'd tick 'other', and put 'other casinos', as I both work for online casinos and play at them :)
     
  22. Nov 28, 2017
  23. goatwack

    goatwack Calendar Time for Buddy CAG

    Occupation:
    Stuntman
    Location:
    Londonia
    Yeah the problem lies with 'High-risk Money Laundering', you'd think it meant high amounts going through the casino, but what's to stop them snooping around lowrollers if they consider them high risk?

    If casinos get to exercise this authority based on a whim then that's too much. If they have discretion to skirt around some loose laws and wording then it stops becoming aimed at potential fraudsters, and simply a tool to extract personal information off everyone 'because they can' :mad:
     
  24. Nov 28, 2017
  25. judgenico

    judgenico Experienced Member MM

    Occupation:
    postal worker
    Location:
    norfolk
    im going to put prostitution in my other box:D
     
  26. Nov 28, 2017
  27. Nate

    Nate Ueber Meister CAG webmeister

    Occupation:
    Monster
    Location:
    Cyberspace
    This is also coming from the likes of Neteller - I was asked to declare my source of wealth WITH Proof. I obviously obliged as I needed the account active. All i simply did was send them screenshots of the affiliate programs who paid me to Neteller and never heard from them again. I mean that was something they knew already.

    I think the problem came in as I sometimes keep rather large amounts in there and I could withdraw it or deposit at a Casino. I have since started using Ecopayz and I suppose its a matter or time before they ask too.

    Eventually it WILL bite and supporting documentation will be needed by casinos - The thing is, are you willing to go that far to keep your casino account open?

    Nate
     
  28. Nov 28, 2017
  29. electronictonic

    electronictonic Experienced Member

    Occupation:
    Carer
    Location:
    UK
    Yep more intrusive totalitarian measures, I can see the questions in the future.

    Which hand do you wipe your arse with?

    Do you piss with the seat up or down?

    Do you crack one off with your right hand or left hand?

    I suppose it's a way for the powers that shouldn't be being able to see how much people have for various reasons, this won't be required at all in the future, when they roll out their grand plan
    that David Icke said was coming over 20 years ago, it will be a single world currency and it will be all electronic, it will be a cashless society which means the end of notes and coins and everything will be easily traced, we are already seeing
    some countries adopting electronic currencies, contactless cards anyone? pay with your mobile anyone? those are to get you used to the electronic cashless society, before it eventually rolls out world wide.


    Source of Wealth - new requirement by casinos?: 22279505_10155268868653842_6308456185500095542_n.jpg,Nov 28, 2017

    Source of Wealth - new requirement by casinos?: Untitled-71-1.jpg,Nov 28, 2017
     
  30. Nov 28, 2017
  31. Vibroverb

    Vibroverb Experienced Member

    Location:
    Europe
    I'm sure a lot of serious gamblers will be willing to do that, after all, you're legit and got nothing to hide, and if playing is a source of income, it's all good but the majority will feel it's a bit too intrusive and could give up.

    The Casinos would react to this loss somehow, maybe there could be a 3rd party process where you give your bank account number to the casino and they check with the bank. I can understand they would like this information, and it's a requirement by the new law, but somehow asking players to prove they're not criminals just doesn't sit right, and the Casinos should have a think too, they should want a better way so players can just play freely on the site and not have to worry about anything
     
  32. Nov 28, 2017
  33. goatwack

    goatwack Calendar Time for Buddy CAG

    Occupation:
    Stuntman
    Location:
    Londonia
    To me it's as though players have to prove their innocence. Casinos will twist this as if it's for our own good and they're following 'laws', but I remember the good old days when everyone wasn't tarred with the same brush :mad:

    And yes, I would have no hesitation in ceasing gambling. Now if I fritter £1000s per month, fair enough, check away. Otherwise no way.

    Plus what do I need them prying into my racketeering enterprises for :eek::eek::eek:
     
  34. Nov 28, 2017
  35. lockinlove

    lockinlove Staring into the sun PABaccred

    Occupation:
    I work :D
    Location:
    Canada
    tick other and state you received money from a nigerian prince and you are set for life so no need for anymore questions
     
  36. Nov 28, 2017
  37. paulcr

    paulcr Full Member

    Occupation:
    IT
    Location:
    UK
    How about putting 'Bitcoin Miner' as source of wealth.

    Wish I had kept the few bitcoins I mined a few years ago.:mad:
     
  38. Nov 28, 2017
  39. goatwack

    goatwack Calendar Time for Buddy CAG

    Occupation:
    Stuntman
    Location:
    Londonia
    Or just 'Miner' :eek:

    Little do casinos know I work 18 hours a day just to earn three shillings and my bfh so I can have a punt on DOA :mad:
     

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