Source Of Funds
Why
As part of our responsibilities and obligations being licenced by the UK Gambling Commission, Casino Classic have a duty to ensure that a customer’s funds deposited into their casino account are derived from legitimate sources.
In order to maintain our integrity as a responsible licensee and to provide a safe and crime-free environment for our customers, it is necessary to conduct ongoing due diligence to ensure our compliance with relevant AML policies. These policies are derived from the EU 5th Money Laundering Directive and the proceeds of Crime Act (POCA), with the intention of minimising the risk of money laundering and criminal activities through participation at the casino.
Who
This requirement is applicable to all customers playing on a UK Gambling Commission licenced casino.
This means that any legitimate and licenced gambling operator in the United Kingdom are bound by the same rules and as such, customers will be required to provide evidence of their source of funds wherever they hold a gambling account.
What
Satisfactory forms of documentation to evidence the source of funds deposited into a casino account can be from any of the following:
- Bank statements displaying consistent inflow of income from identifiable origins
- Proof of earnings, such as recent salary/wage slips/pension
- Recent income or dividend statements
- Trust deed or Estate documentation with relevant information
- Documents to substantiate winnings from any gaming, lottery or similar activities
- And any other forms of legitimate documentation to support the origin of the funds deposited
Kindly note, all documentation received will be subject to quality standards and so clear, legible and valid information will be required.
When
Casino Classic will initiate contact with the customer when seeking source of funds documentation. Should a customer be unable to supply evidence to correspond with the level of activity at the casino within a reasonable period of time, Casino Classic may impose limitations on the account including (but not limited to) deposit and/or withdrawal restrictions and/or suspension of the account until such time the requested information is received and confirmed.
How
Our Privacy Policy details how we treat our customer's information and that all documentation provided will be treated with utmost confidence and security.
Casino Classic are aware of the highly sensitive nature of the information which may be sought and thus, the source of funds information will be used only to ascertain and verify the legitimacy of their origins and for no further purpose.
Through verification of the source of funds, we seek to assist our customers manage their participation at the casino with responsible gaming initiatives, keeping the casino safe and preventing crime and contributing to the community as a responsible licensee.
Casino Classic would like to remind its customers that this requirement applies to all UK licenced operators and that prompt co-operation will allow our customers to continue enjoying our world class games and great customer service.
If you have any questions or would like any further information, please do not hesitate to contact us.
Updated: 01/06/2020 12:00:00 +1000
