KYC (Know Your Customer) is a term used by prediction sites online for the customer identification process. It involves making reasonable efforts to:
- identify the customer who is betting for real money and
- verify his/her identity by using reliable, independent source documents, data or information.
Those betting sites that hold Maltese Online Gambling License and license in UK are required by the Malta Gaming Authority (MGA), the UK Gambling Commission and the FIAU (Financial Investigations Analysis Unit) regulations, to conduct KYC verification in order to verify the identity of its customers.
Safety of your Documents sent to Betting Site Verification
All documents you provide betting sites with are stored on a secure server with very limited access. Their personnel always ask the players to cover sensitive data on copies they send.
For example, copies of credit cards are checked and made PCI Compliant if the image is not already so, by blocking out the middle 6 digits of the card and the CVC/Security Code on the back of the card.
In fact, to be PCI Complaint credit cards should have the first 6 digits and the last 4 digits showing on the front of the card and the rest should be covered by the customer. On the back of the card the CVC code should be always covered.
All payment transactions occur in a PCI DSS Compliant environment, which is a requirement of Visa and Mastercard.
Documents You Need to Provide for KYC Verification
KYC verification at prediction sites has two components – Identity and Address, so you will need to provide us with a proof of Identity (ID, Passport or Driving License) and a proof of residential address registered on the account (Utility Bill, Bank Statement).
Please make sure that the identity document copy is in colours, shows your full name, date of birth, its expiry date and has the photo visible. The proof of address must show your name and residential address on it and cannot be older than 6 months for KYC.
A photo of the document requested would be ideal as photocopies tend to be unclear. Therefore, please do NOT provide black & white photocopies to your betting site online, when you are being asked for verification documents.