Deposit threshold for requesting source of funds

[Hone2411]

Hello, I'm looking for some information if possible if anybody can help please?

Does anybody know if there is a mandotary deposit limit threshold for online casinos that when reached the casino must request proof of wealth, proof of funds, verify affordability etc? Or are they allowed to choose their own threshold?

I've been having a look on the gambling commissions website but I can't find anything.

Also is it a condition of all casinos license's that they actually have a threshold or is it at their discretion?

 

[catapultaudio]

Depends which country you are from I think ? I've been asked by a couple of casinos after depositing  roughly £2,300 GBP , but there's others where I'm certain I'm way over that but have never had any questions asked... so I believe it is likely to also take into account what period of time the deposits have been made over as well.

I did a quick search and found some useful information on page 80 of this PDF which seems to suggest €2,000 EUR over the lifetime of the account is the threshold reached, though it does sound as if it is primarily in relation to land-based casinos, if you have a more thorough read you will probably be able to find the more accurate details... but then again you may be from another country with completely different rules too

http://www.gamblingcommission.gov.uk/PDF/AML/Prevention-of-Money-Laundering-and-Combating-the-Financing-of-Terrorism-5th-Edition.pdf

 

 

[pinnit2015]

The 2k ish mark is the enhanced due diligence checks for KYC - that not just a licence condition but part of the AML Directive. 

SOW/SOF don't have, afaik, a prescribed amount - otherwise money launders would only launder 9,999. There are some mandated amounts for AML in different sector such as antiques etc/works of art but for casino's it should be risk based.  So entirely possible to see the following:

Player A: with casino 10 years, deposited 50k in that time, no unusual activity, same patterns - no SOW/SOF

Player B: with casino a month, last 2 weeks went from 20 quid deposits a day to 20k every 3 days - SOF/SOW

Responsible Gambling - similar concept no set amounts, review data/play etc.