KYC - know your customer legislation

[what..the?]

I have deposited �100 with a bingo site based in Gibraltar, who's governing body is the Gibraltar Regulatory Authority they also have a license under the Gambling Act 2005.

As soon as I deposited the money and spend �25 on bingo and bought some advanced tickets for big draws latter in the month, the company then blocked my access to the site, and said I had to send them information to prove my ID such as copy of passports and bills. The reason for this is the KYC - 'know your customer 'legislation.

I was told it was a random security check and that I should just send the information. I was concerned as I have already had this problem with another online bingo site but they wanted to prove ID before they gave me some winnings. But for this other site to be happy I had to sign lots of papers and send them copy of bank cards (front and bank) bills and photo ID. I had to send this twice by fax which they said they could not read and twice by scanning and emailing which the first email they stated they had not received and the second when I contacted them and stated I had send another they said their computer servers were down....how unusual!

So you understand my concern esp as this new company seems more risky as they say one thing and mean another, they change their mind alot, and their oversea calls centres are impossible to understand.

I told them to close the account because I was concerned about ID safety and to refund the registered card my balance plus the advanced buys, (if i am no longer a member i dont need adavnced tickets for bingo games latter that month).

cont.

[what..the?]

After asking for the closure 8 days have gone by now I have corresponded with them 4 times and them 4 times with me and only today they have emailed to say they still need to prove my ID before they can close the account. This is the first time they have stated this fact, other emails said 'they would action the cancellation' but now they have changed their mind. They have also stated what my account holds and they have not refunded the advanced buys and they are giving me the bear minium back, even though I asked 8 days ago for the advance buy refund, they have failed to answer my concerns re the advanced buys.

I am in the process to ask my card company for help getting the money back. The bingo company say that the KYC legislation states there has to be a interaction/buisness before the ID is requested which means they only freeze the account and ask for ID once money has been deposited.

I am trying to find loop holes or mistakes they have made and to find out if they really have to ask for my ID just to close my account and refund to the same card??

Does anyone know about this side of the law??

Thanks in advance

[Richard1966]

This sounds like a scam to get your bank details and you appear to have fallen for it. Contact your bak immediately.

[slark]

i agree with richard1966 contact your bank ASAP

you will end up with an empty account and debts to your credit cards

[loonytunes]

Why not get in touch with the Gibraltar based regulatory body who will have powers to deal with it?

[what..the?]

Thanks for your answers

In this recent case I am discussing, they have not asked for photocopies of cards etc that was another company and in that instance only the last 4 digits of the card were showing and the pin on the back was hidden, also they have now deposited my winning in my bank..

I have not sent anything to 'this new' company yet they want Id and a bill, but I am still trying to find any other way.

[what..the?]

I have contacted the Gibraltar based regulatory body yesterday and I am awaiting a reply