Glory Casino Anti-Money Laundering Policy

Glory Casino’s priority is ensuring high security for everyone who uses this site. That’s why the brand has a thorough three-step account verification process in place—to guarantee the identity of its users. It helps confirm that the registered details belong to the right person and that the payment methods used are legitimate, preventing any misuse or potential involvement in money laundering activities.

The bookie also recognizes the importance of tailoring security measures based on nationality and origin. Different regions might require specific approaches for payment and withdrawal to ensure the utmost safety and compliance.

What Is Money Laundering?

Money laundering is basically making dirty money look clean. It’s like taking cash that comes from illegal stuff or being involved in illegal things and then doing things with it to hide where it really came from. 

This could also mean changing it into something else, moving it around secretly, or pretending it’s from a legal source. It also covers using or having that money while knowing it’s from illegal activities. 

And it’s not just about doing these things yourself; even helping someone else do it is considered money laundering. Plus, it doesn’t matter if the illegal stuff happened in another country – if you’re cleaning that money, it still counts as money laundering.

AML Policy Changes and Implementation Requirements

Before any big changes go down in the AML policy over at Glory Casino, the brand has got to get the thumbs up from the bigwigs at EMIXCO VENTURES LIMITED and the anti-money laundering compliance officer. There’s a three-step verification process in place for this.

Step 1

Every user needs to complete the initial verification step before making any withdrawals. This step is crucial for various aspects like payment preferences, withdrawal amounts, chosen method, and user nationality. 

This verification step requires users to fill out a document themselves. This document asks for some specific info: 

• First and last name;
• Date of birth;
• Place of residence;
• Gender;
• Complete address.

Step 2

Users depositing over $2,000 or withdrawing over $2,000, or sending more than $1,000 to others must complete the second verification step. Withdrawals, tips, or deposits will be held until this step is done. 

To do this, users go to a page and submit a photo of their ID along with a paper showing a six-digit number. Only one official ID is allowed. The accepted IDs may vary by country. 

An electronic check will confirm the info provided in step 1. It looks at two databases to match the details with the submitted document and ID name. If electronic verification fails, users need to confirm their current address with a government document.

Step 3

If you’re depositing over $5,000, withdrawing over $5,000, or sending more than $3,000 to another user, you’ll need to complete Step 3 verification. Until that’s done, the bookie will have to hold onto any withdrawals, tips, or deposits. Step 3 involves sharing details about your source of wealth.

Identification and Verification (KYC)

Ensuring the bookie properly identifies its players right from the start of its interactions is super important. Not only does it help Glory Casino comply with regulations against money laundering, but it’s also a key part of its Know Your Customer (KYC) policy.

The ID process follows some key principles:

• First off, the bookie needs a clear copy of your passport, ID card, or driver’s license;
• The bookie also needs a handwritten note that includes six randomly generated digits;
• The brand also needs another photo of you.

Of course, you have control over what sensitive info you share; you can keep private stuff like your date of birth, nationality, gender, and name hidden, except for the essential bits like your photo.

It’s crucial that every detail in your ID is visible in the same picture, except for your name. Sometimes, Glory Casino team might need to do some extra checks to make sure everything’s legit. The bookmaker adapts the process to suit different situations.

Proof of Address 

The bookie will verify your address using electronic checks from two different databases. If the electronic test doesn’t work, you can provide a manual proof instead.

For a smoother approval process, ensure the document you send has a clear resolution. The brand needs to see all four corners and make sure all the text is readable. For instance, a recent utility bill from the past three months sent to your registered address or an official government document showing your residency will do.

Proof of address could be things like electricity or water bills, bank statements, or any government mail addressed to you. If needed, Glory Casino team might do extra checks depending on the situation.

Origin of Funds

If a player deposits more than five thousand euros, the brand will need to know where that money’s coming from. Here are some examples:

• Running a business;
• Having a job;
• Getting inheritance;
• Making investments;
• Family support.

It’s super important for Glory Casino to understand where this money is coming from and that it’s all legit. If the brand can’t figure it out, it might need some extra paperwork or evidence. 

If the same person deposits this much in one go or in bits that add up to that, the bookie will have to freeze the profile. The bookmaker will send them an email manually explaining all this and also include these details on the site. 

The brand will also ask for proof of bank transfer or credit card just to be extra sure about who its user is. It helps Glory Casino get a better picture of their financial situation too.