Videoslots source of wealth income etc etc etc

I have had a few meetings with this gaming commission because I was having a few problems with affiliating and we spoke about guidelines I was curious about. MGA had a new gaming act approved that went into effect last summer and for some starting Jan 1. It was to crack down on money laundering. I wanted to know about source of wealth because I wanted to take into consideration when deciding to continue affiliating or not and to know to warn friends and players this may become an issue. I asked them directly will you be forcing casinos to start cracking down like the UKGC with source of wealth and their answer was no. They basically said they have told casinos to enforce money laundering rules and if you suspect it take cautionary measures. They have not went the UKGC route contacting all casinos and demanding most players need to provide SOW.

I work with all Canadian players and I have heard maybe 3-4 cases of people being asked for SOW. Any time I have worked with UKGC players I have heard thousands of stories. So when you say they are more strict - that is just not true at all.

It will change. SOW checks will be more common for MGA players this year.
 
Award winning Videoslots is reviewed by Casinomeister
I work with all Canadian players and I have heard maybe 3-4 cases of people being asked for SOW. Any time I have worked with UKGC players I have heard thousands of stories. So when you say they are more strict - that is just not true at all.
And I'll bet the majority of those thousands of stories, were in regard to UKGC casinos based in Malta,
and very few from the UKGC casinos from other jurisdictions. eg, Alderney, Isle of Man, Gibraltar
 
It will change. SOW checks will be more common for MGA players this year.

I was told it will only increase when money laundering is suspected and not these random checks for regulars and even low rollers Rizk, videoslots and other casinos have been doing under UKGC.

And so far this remains true. I havent heard a new case of a Canadian being forced to send in letters of employment, source of wealth, bank and paypal statements at all.
 
Haven't seen any complaints about all those casinos based in Alderney, The isle of man or gibraltar.
The only ones who don't seem to know what they're doing are those based in Malta

They are all crown dependency or British Overseas Territories though so they although they aren't part of the UK, they are much closer than Malta, so presumably the companies based there follow the UK based casinos/bookies closer :)
 
They are all crown dependency or British Overseas Territories though so they although they aren't part of the UK, they are much closer than Malta, so presumably the companies based there follow the UK based casinos/bookies closer :)

Which also ties in with what Mr Wild just said
This is the case. New regulation.
FIAU now check the gaming companies in Malta and not MGA (on AML side).

So it's not the fault of the UKGC, which all the casino, who have caused all the fuss, are blaming.
It's down to The Financial Intelligence Analysis Unit in Malta, checking the Gaming companies IN MALTA
 
Just to correct my post after rereading the documents I was given, the changes on Jan 1st were for land based casinos and for online was July 1st.

@brianmon UKGC are to blame for the source of wealth everyone is getting. I was told by 4 different casinos they were given written details to ask customers for source of wealth. I was told by MGA that the FIAU was created for anti money laundering reasons and is not being used to demand source of wealth. Again exactly why there has been little no issues with Canadians and other jurisdictions under MGA but instead the UKGC.
 
Just to correct my post after rereading the documents I was given, the changes on Jan 1st were for land based casinos and for online was July 1st.

@brianmon UKGC are to blame for the source of wealth everyone is getting. I was told by 4 different casinos they were given written details to ask customers for source of wealth. I was told by MGA that the FIAU was created for anti money laundering reasons and is not being used to demand source of wealth. Again exactly why there has been little no issues with Canadians and other jurisdictions under MGA but instead the UKGC.

Yet the UKGC denies this (when I asked them) and as yet I haven't seen a single thing online to back the casinos claims up. In fact the most recent guidance issued by them says the opposite, it should be done on a case by case basis, and specifically mentions it should not be used as an excuse to blanket request information from customers.
 
Yet the UKGC denies this (when I asked them) and as yet I haven't seen a single thing online to back the casinos claims up. In fact the most recent guidance issued by them says the opposite, it should be done on a case by case basis, and specifically mentions it should not be used as an excuse to blanket request information from customers.

Not sure why they wont admit it, thats pretty strange. Aside from talking to whomever, the proof is Canadians arent getting these requests but UK residents are so obviously the UKGC must be bothering casinos about it and not MGA
 
Oh please :puke:
lol.. exactly, How can casino who establishes licenses in foreign countries have any right to demand invasive unprotected information when they have rules and regulations that basically say they can block withdrawals for any reason they choose to find or worse without reason. Why is the onus on players to give such info when casinos make sooo much money off us?
 
I know it well. Lol
well, at VS you can go and request on their web site all deposits and withdrawals from whichever dates you choose all the way to the beginning. After I did that I realized that after thousands of $ in deposits, it wasn't so bad after 4 years since I had some winnings and it averaged to losing an average amount per year but since VS, and other casinos have removed many software companies for Canadians, the ones left over are crap. Nowhere in my searches could I find where Canadian Law has restricted some software companies like Elk Studios and others but the response I received is Canadian Law has forbid it. Really ? Since then, about 3 months ago, every month my losses are huge and no wins hence no withdrawals. I asked the provincial gambling department in my province and they denied it but did tell me that Canada and each province are losing billions to on-line gambling and therefore are seriously looking at regulating this a lot closer. There was a news article I read lately that Canada will legalize on-line gambling in on-line casinos but will now allow Canadians to gamble only if foreign casinos abide by their regulations whereby if something does go wrong there is a body Canadians can go to in order to complain and action would be taken.

Of course they would want to regulate this since they are saying that Canadian betting dollars are going to foreign countries and no tax is paid. Plus the burden of addict gamblers is being absorbed by the Canadian government and provinces. I agree with this though even if they do regulate at least we can go to someone to take action and what "apparently" the casinos are saying that the UKGC are the ones asking for this information, (SOW), Canada would immediately ban those Casinos from these directives as it puts their citizens in a grave risk.
 
.

Of course they would want to regulate this since they are saying that Canadian betting dollars are going to foreign countries and no tax is paid. .
but it's tax-free here anyway - we dont pay taxes on lottery/casino winnings
 
Award winning Videoslots is reviewed by Casinomeister

Users who are viewing this thread

Click here for Red Cherry Casino

Meister Ratings

Back
Top