KYC Requirements - Must be a better way!

[Pokerface]

Some of these KYC documents being required by the 'sales prevention" departments of some programs really are over the top. There must be a better way to manage these. They want you to upload docs but don't accept multiple docs. And of course the usual question, how secure are these documents being saved.

If you are working as a business:

1. Certificate of Incorporation.

2. Certificate of Shareholders.

3. Certificate of Directors and Secretary.

4. Certificate of Registered Office.

5. Tax Certificate.

6. Corporate Structure leading to all UBOs.

7. Proof of ID and Proof of Address for ALL Directors.

8. Proof of ID and Proof of Address for ALL UBO's (over 25%).

9. Proof of ID and Proof of Address for ALL Shareholders (over 25%) if not the same as UBOs.

10. Bank Statement of the Entity / Financial Statements of the previous audited year.

11. Proof of Domain Ownership.

If you are working as an individual:

1. Valid proof of ID (Passport / Driver’s License/ / National Identity Card)

2. Proof of Address (Utility Bill, Bank Statement - the name on the document needs to be the same as the Proof of ID) no older than 3 months

3. Tax Registration (Personal not VAT)

4. Domain Ownership.

Please upload all KYC documents to your Affiliates Account!

[TheGooner]

And we get all the "yap" about anti-money laundering etc, etc, and how they have to follow "guidelines".

I'd be OK supplying all that if it was required of all companies supplying goods and services.
- Imagine if your electricity company, or internet service, had to do all that before providing service.

More to the point imagine if the affiliate programs (who are after all the ones paying money in this transaction) had to supply all this information about themselves to every affiliate BEFORE paying out.

I've asked for this and been rejected, and yet when I point out that THEY are the ones suppling money with NO PROOF OF FUNDS OWNERSHIP in the transaction, it all goes quiet. Asked exactly which legislation says programs must go through this to PAY bills they go very very quiet.

Still - it's everywhere now.

I had to go through FATGA and anti-money laundering process in order to get a real estate agent to sell my house !!
WTF is going on here ? Governments seem to want all their citizens poor and suckling on the social welfare teat !!!

[Pokerface]

Totally agree, thought about doing the same back to them. This is really getting ridiculous with the people asking for the documents not really having a clear understanding of the business. They are being far too careful.

Depending on your country many docs don't even exist.

Recently received a new passport and had to provide a copy. The passport being new and stiff could not lay flat for the photo without my finger in one corner. Nope! Not allowed! Has to be a full flat, all 4 corners unobstructed.

For the most part I don't even think they actually review closely, they just "tick the box".

[Mattbar]

It is especially annoying when a lot of the information they need is available publicly online and they are just too lazy to search for it. Being a UK ltd company they can most of what they need from companies house. You should just be able to add your company number and director ID.

We did sign up with a new brand recently and all they asked for was the companies house link, POA and ID, which was refreshing for a change.

[Topboss]

I just received a request from Leo Vegas as part of their "Due Dilligence"and it is 15 pages long!!

[loquax]

LeoVegas decided that although the bank statement we provided wasn't valid as it is addressed to 1 of the 2 owners of the company. Despite it saying the account is for the company name and the address was the same as company house docs. They asked for another statement even though it'd be identical and has been since we had the account. We told them accept the bank statement or close the affiliate account. They closed the account. Not that it was worth having but it did seem an odd level of pickiness and stupidity...

[xecutable]

As far as I was told, the requirements come directly from the banks and the affiliate programs are just the ones to tell you.

[BSDCasino]

And it's why some are working more and more with suspicious casinos..

[tomgalanis]

It is especially annoying when a lot of the information they need is available publicly online and they are just too lazy to search for it. Being a UK ltd company they can most of what they need from companies house. You should just be able to add your company number and director ID.

We did sign up with a new brand recently and all they asked for was the companies house link, POA and ID, which was refreshing for a change.

Which programme was that mattbar? Sounds refreshingly efficient

[Mattbar]

Which programme was that mattbar? Sounds refreshingly efficient

It was Fanteam, sportsbook and fantasy, quite niche but a nice brand. They had a very simple google form to fill in, it was refreshing indeed