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  1. #1
    allfreechips's Avatar
    allfreechips is offline Private Member
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    Default KYC Form for affiliate programs?

    WIth all the new KYC forms for banks, and being an aff, should we demand the same of the affiliate programs? Casino ownership, aff program ownership, financial records?


    Just a thought but would be nice to know who to sue when you get bent over like Microgaming is doing with Fortune Affiliates, Buffalo ext...
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  3. #2
    Roulette Zeitung is offline Public Member
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    "WIth all the new KYC forms for banks, and being an aff, should we demand the same of the affiliate programs?"

    Yes, because KYC is a tool against crime and not only for transparency.The problem for some programs: If all affiliate programs would fill out their own KYC forms, too many guys would be unmasked, for whom an arrest warrant has been issued.

    Wanted for fraud, theft, but also for indecent exposure, marriage impostor and public urination in a cinema hall.


    Leopold

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  5. #3
    -Shay- is offline Public Member
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    Quote Originally Posted by allfreechips View Post
    WIth all the new KYC forms for banks, and being an aff, should we demand the same of the affiliate programs? Casino ownership, aff program ownership, financial records?


    Just a thought but would be nice to know who to sue when you get bent over like Microgaming is doing with Fortune Affiliates, Buffalo ext...
    We do not work with new programs who do not satisfy our "KYC" needs. That is why I asked Wix for background info on their ownership/management.

    While I was not picking on them by any means, it is imperative that companies are open about who owns and runs the company and what exact experience in the industry they have. Broad statements such as "we have years of experience in the industry" are meaningless unless the experience is provided at a detailed level.

    While obtaining such details will not 100% prevent affiliates or players from being "screwed", it does greatly reduce the risk because one is better able to properly vet the programs they are potentially working with.

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    Triple7 is offline Private Member
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    Quote Originally Posted by allfreechips View Post
    WIth all the new KYC forms for banks, and being an aff, should we demand the same of the affiliate programs? Casino ownership, aff program ownership, financial records?


    Just a thought but would be nice to know who to sue when you get bent over like Microgaming is doing with Fortune Affiliates, Buffalo ext...
    I need of every program a signed contract, evidence that the signer of the contract has the right to sign it and the relation between the signer of the contract and the company that is paying.

    Hell of a job. Most brands are just doing something. Some can't even provide details of an active company. Others ask to invoice to Gibraltar, but pay out from Malta and can't explain the relation between those two, etc.

    I got some who have for example over 35 different entities from Bahamas to Delaware, from Israel to Malta, from Turks & Caicos to Costa Rica and from China to BVI. Good luck if you have to sue that $750-company in Belize or something. You need to have a contract with a more substantial part of their Christmas tree.

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  9. #5
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    Quote Originally Posted by -Shay- View Post
    We do not work with new programs who do not satisfy our "KYC" needs. That is why I asked Wix for background info on their ownership/management.
    Indeed this is good practice.

    We do due diligence on all our partners and attempt to get ownership details and locations on both program and casino venture.
    This is usually at a corporate level - we find company ownership and don't usually need shareholder details.

    IF we find it hard to determine we ask for details from management - if it's not forthcoming - then we reject the program as "shady ownership".

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