Videoslots source of wealth income etc etc etc

[DreamRJ]

I've just had the email too and filled in the relevent information.

I'm still laughing at the option that said pocket money. I'm 29 not 9

I ticked that for the lolz

 

[paul7388]

I just got the dreaded source of wealth request as well. And I completed the form. But it hasn't asked me for any documents just yet. It basically just asked me some questions. I can not deposit atm it has blocked them.

Not happy what so ever!

Can I ask others how long it has taken for them to approve once you filled the form in and or if they ask for documents? to them unblock your account and you can then deposit and play again?

Thanks

Filled the form in about 10 pm last night no documents submitted. Got an email back at 11.30pm saying Thank you for concluding the security check at Videoslots.com

Your Source of Funds document has now been verified.

So took just over an hour on a Friday night if thats any help to you.

 

[DreamRJ]

Filled the form in about 10 pm last night no documents submitted. Got an email back at 11.30pm saying Thank you for concluding the security check at Videoslots.com

Your Source of Funds document has now been verified.

So took just over an hour on a Friday night if thats any help to you.

Ok well it has been 2 hours for me so far since I filled the form in. And it still hasn't been processed

 

[gtpaul]

Filling in the source of wealth is easy, I was verified within 5 minutes.

When it comes to to the proof of declaration which is the next part, now thats up to you.

Go back to the beginning of this thread and look at what your going to get next.

Good luck

 

[EnglishGuy]

I'm happy to tell them i work - have a job and earn fuck all..

now way in hell, i would submit bank statements etc.

 

[gtpaul]

Yes mate identity theft at its best.

 

[chris87]

Filling in the source of wealth is easy, I was verified within 5 minutes.

When it comes to to the proof of declaration which is the next part, now thats up to you.

Go back to the beginning of this thread and look at what your going to get next.

Good luck

Correct. I've now had the next part with a the same list of documents requested as you. There was about a week between the Source of Wealth and the Proof of Declaration requests, so those that think it's all over by just filling in the SOW should probably think again unfortunately.

And for good measure they've asked for verification of my ID again!

Chris

 

[b3b44]

i just checked my VS account they request to verify my bank account?
While i never use my bank account depositing only have used Neteller .... weird if you ask me...

 

[paul7388]

i just checked my VS account they request to verify my bank account?
While i never use my bank account depositing only have used Neteller .... weird if you ask me...

My account has always had the bit to verify bank account.

If you read it it says you only need to verify it if you do a withdrawal by bank transfer. As long as you keep using neteller you should never need to actually verify bank.

 

[shadow123]

It would be very useful to know what levels of deposits/withdrawals you guys are making which triggered the spanish inquesition ( no one expects them lol).
Seriously, I am not making any deposits until this situation is sorted out and we know where we stand as there is no way I will submit any proof and
would rather pack up gambling then worrying whether the next deposit/withdrawal will trigger the request

 

[interlog]

I think it is time for Dan to give us some answers I think.

It appears to be that all of the UK customers are expected to complete the form for a starter.

Then you have more and more customers now being asked to supply documents in addition to the signed declaration that has already been submitted and accepted.

I thought the whole point of the act was that casinos should look at individual cases and ask their customers for this kind of stuff is there is suspicion.

And that is where I think in this case Videoslots is being a tat over zealous unless the UK is seen as a high risk country (and one of the criteria in the act).

Looking forward to some answers from Dan who I am sure has been reading this topic.

 

[interlog]

It would be very useful to know what levels of deposits/withdrawals you guys are making which triggered the spanish inquesition ( no one expects them lol).
Seriously, I am not making any deposits until this situation is sorted out and we know where we stand as there is no way I will submit any proof and
would rather pack up gambling then worrying whether the next deposit/withdrawal will trigger the request

But deposit levels are irrelevant.

Surely it is the way that is being played that should be looked at when it comes to money laundering (the act that applies, not responsible gambling stuff). Do you only turn your deposit over one time and then withdraw? Do you cover most of the roulette table with a bet and then withdraw? Stuff such as that.

Me, I deposit and lose most of the time. My loss at VS since December is over £4k. Great way to launder money - not!!!

 

[colinsunderland]

But deposit levels are irrelevant.

Surely it is the way that is being played that should be looked at when it comes to money laundering (the act that applies, not responsible gambling stuff). Do you only turn your deposit over one time and then withdraw? Do you cover most of the roulette table with a bet and then withdraw? Stuff such as that.

Me, I deposit and lose most of the time. My loss at VS since December is over £4k. Great way to launder money - not!!!

Exactly, low risk bets, fast withdrawals etc 'could' be an indication of money laundering, and would expect a SOW request if your playing style was like that, If you are playing high risk bets (slots for example) then I would suggest you are unlikely to be money laundering. Obviously there will be other trigger behaviours too though, but a loss of £4k in just over a month would suggest you aren't very good at your job if you are cleaning money (assuming your deposits haven't been £50k+)

People should question the validity of the requests, and don't accept the 'we can't talk about this it's against the law' excuses.

 

[interlog]

Here is another scary thought: Are those that refuse to provide source of wealth documentation going to be reported to the authorities? It is a logical conclusion isn't it? Can't provide source of income, it therefore must have come from ill gained means.

What ever happened to innocent until proven guilty? This whole exercise by Videoslots is the opposite. You are no longer welcome to play with us until you can prove you are not a criminal. Yeah cheers for that!

 

[chris87]

Exactly, low risk bets, fast withdrawals etc 'could' be an indication of money laundering, and would expect a SOW request if your playing style was like that, If you are playing high risk bets (slots for example) then I would suggest you are unlikely to be money laundering. Obviously there will be other trigger behaviours too though, but a loss of £4k in just over a month would suggest you aren't very good at your job if you are cleaning money (assuming your deposits haven't been £50k+)

People should question the validity of the requests, and don't accept the 'we can't talk about this it's against the law' excuses.

Good points. I only play slots and I'm quite a lot down at VS over the years as it's been my unluckiest casino. But I'm not a high roller. My pattern of play has been the same for years. There doesn't seem to be any rhyme or reason to the requests based on what people have said. Just be aware that if you get a SOW request it may likely be followed up some days later with a request to send the documentary proof of income.

Chris

 

[ternur]

What ever happened to innocent until proven guilty? This whole exercise by Videoslots is the opposite. You are no longer welcome to play with us until you can prove you are not a criminal. Yeah cheers for that!

This is the same approach that was chosen in the GDPR. When it comes to data protection, the DP controller is kinda presumed guilty unless they can prove adequate measures to protect data (of data subjects) are in place, i.e. they must be able to demonstrate compliance. In the AML legal framework the same seems to apply to customers, they need to be able to prove their wealth/funds are not from illegal sources. Of course the operators have to demonstrate AML compliance as well, but the burden in this one has been placed heavily on the customer.

In case of VS, if UK customers are getting hammered with SOW request by default rather than applied on a case to case basis, I'd guess the UKGC has informed licensees of these requirements. And some casinos are taking these on face value rather than analysing what they actually mean. AMLD4 requirements are not meant to be used as a tool to issue blanket SOW requests.

 

[colinsunderland]

This is the same approach that was chosen in the GDPR. When it comes to data protection, the DP controller is kinda presumed guilty unless they can prove adequate measures to protect data (of data subjects) are in place, i.e. they must be able to demonstrate compliance. In the AML legal framework the same seems to apply to customers, they need to be able to prove their wealth/funds are not from illegal sources. Of course the operators have to demonstrate AML compliance as well, but the burden in this one has been placed heavily on the customer.

In case of VS, if UK customers are getting hammered with SOW request by default rather than applied on a case to case basis, I'd guess the UKGC has informed licensees of these requirements. And some casinos are taking these on face value rather than analysing what they actually mean. AMLD4 requirements are not meant to be used as a tool to issue blanket SOW requests.

Exactly right, and it is pretty clear that that is the case too, so any casino doing what VS seem to be doing, would, on the face of it, seem to be not following the law at all.

 

[Jono777]

Happily checked my emails this morning to see that I have now received the SoW request

Average deposit of £25, 3-4 times per week (may change slightly if luck has been in as VS or elsewhere but not by much)

Now the form isn't a problem, Completed it with 100% honesty and if that's it then all good.

I just hope, as I've numerously (in general) suggested that this 4th directive is not misinterpreted by operators.

Sure, If I suddenly start chucking in multiple deposits of £250 daily then ask for proof but if my 'pattern' doesn't change drastically then I think that should be the end of it for me and all the low rollers out there.

I mean seriously, who would launder 'pennies' at a time, I'd be dead and buried and long forgotten by the time my dosh was 'clean'.

As I say no problem with the form.

 

[KasinoKing]

I have been unable to deposit to Videoslots for about 3-4 months now - no explanation from them
(Used the same debit card for years).

Got the SOW e-mail yesterday and completed the required info online... STILL pending 12:30pm today

Oh well, if they don't want my money...

KK

 

[interlog]

Well it is now crystal clear that this request has been sent to ALL of their UK customers.

That is surely not what this act is about.

Still no answer from Dan.

 

[colinsunderland]

Happily checked my emails this morning to see that I have now received the SoW request

Average deposit of £25, 3-4 times per week (may change slightly if luck has been in as VS or elsewhere but not by much)

Now the form isn't a problem, Completed it with 100% honesty and if that's it then all good.

I just hope, as I've numerously (in general) suggested that this 4th directive is not misinterpreted by operators.

Sure, If I suddenly start chucking in multiple deposits of £250 daily then ask for proof but if my 'pattern' doesn't change drastically then I think that should be the end of it for me and all the low rollers out there.

I mean seriously, who would launder 'pennies' at a time, I'd be dead and buried and long forgotten by the time my dosh was 'clean'.

As I say no problem with the form.

I think theres already been a couple with similar patterns to you, been told to complete the large form

I filled in the simple form too, no problem with that.

I do have a problem with this type of thing,

A copy of the will that must include the value of the estate.

the last will I dealt with was over 50 pages long, although I know most aren't, you aren't getting it though.

Sale of property:
Signed letter from a lawyer or a notary on letter headed paper.
Contract of sale.

Last house I sold was around 6 years ago, are Videoslots going to pay the £50 or so it would cost to get a solicitor to write a letter stating that? What about the one 4 years before that, and the one 10 years previous etc etc?

Winnings
Letter from relevant organisation (Lottery headquarters/betting shop/casino).

What, so if I win £100 in Coral this afternoon, you really think they will write me a letter on headed paper explaining that I won £100, do Videoslots want the bet detailing and any other bets I've made there today/last week/month/year? Absolutely ridiculous request and just shows that VS's don't have any idea what they are doing tbh.

 

[shadow123]

Sounds like my VS days are over. If they are sending requests to players depositing £25 it sounds as if it will soon become part of the standard verification
requirments which all players have to adhere to.I re read the documentation requests on page 1 this morning and it really is way over the top,either
VS is being over zealous in their interpretation of the directive or the directive is specifically saying that this data be submitted.
Either way I cant be bothered, I have more important things to worry about.

 

[interlog]

Considering that only UK customers are being targeted so to speak, it appears that there may be some misinterpretation of the UKGC guidance rather than the Act itself as surely otherwise our cousins across Europe would be requested to supply the information.

 

[colinsunderland]

Just think what this information will be worth when a dodgy employee decides to dump the database to sell it (note : NOT aimed at Videoslots or any casino in particular).
At the minute they contact an affiliate 'Hey, I've got a xxcasino database dump, names, email addresses, how much you want for it'
Future
Hey, I've got a list of 50 customers who all deposit £20k+ a week and have a disposable bank balance of £5m+


kerching

 

[Lincolnuk]

Guidance was them to do this to anything that became out of the ordinary.

Examples of this would be. Someone increasing there deposits. Like if you use to make a couple of 50 a week then suddenly you started making 6-10 of them a week.
2nd Example would be if you made Deposits of 30 to 40 then suddenly you jumped to making the same amount but at 100-200 a time.
Those who have not changed there habbits should not need to worry.

Any way thats how i have read all the info and guidance i could find so some casino are making a mess of it