Bloatgoat in disguise
- Nov 17, 2021
KYC - yes. Personal financial documents for SOW - no.
You seem to often push the narrative in favour of the casinos. Can I ask if you are in any way affiliated with one of the regulatory bodies involved in the gambling industry?
Don't get me wrong. . I have my own business for 15 years and i have clients who have a similar age of doing business. We're constantly on updates in regards of how things are managed. For example the "SOW" is something we all are confronted with sooner or later. I had it myself, a bank who held a payment for more then 2 weeks after a client of me did me a payment. Long story short: the client appeared to have a payment from someone who's on a grey or black list. Because of that her future transactions where flagged and so was the transaction to me. The client had to basicly shove identity documents to my bank in order to release the payment. After i spoke to the bank i explained like this is insane, i do business for 15 years with zero issues, and suddenly an issue is raised over nothing.
Another client of me lists his business in Uber eats (delivery), makes in 2021 over 220k and is presented with "SOW" or stupid questions like "You recieved 220k in 2021 from uber eats, what is that for?" as part of a procedure from the bank. The casino's i play at all have this verify first then play tactic, which is excellent in my opinion. Never a document request about what my source of income is. In the UK those things are quite more difficult then other countries i see.
So if you have a business contract of you working somewhere or you have a active registration as a business owner, whats the problem submitting this? Thats my point. If you can perfectly declare it it shoud'nt cause issues.
Casino's have laws to oblidge.. If you run a credit card service onsite you have to assure the money that flows in is from legal sources (and not money laundry)