KYC VS digital verification ?

[Patikno]

There is a lot of talk about KYC as an unsafe procedure, for some people it is acceptable, for some people it is not, some people think it is really dangerous, etc. The essence of the problem boils down to the fact that the user undergoing KYC has to pass data to a third party, in videnomers phone, e-mail, copies/photos of documents, statements, etc. information. Yes, this does not carry the best connotation, more so in case of data theft, in case of inadequate security of the party conducting KYC.

Question to the participants of the topic - would you agree that instead of KYC there would be a procedure, for example, to confirm identity, without data transfer, for example, through banking applications ? For example, in Ukraine we have an effective model with identification through banking applications, i.e. through BankID identifier. Or through an official application certifying your identity. Again in Ukraine there is a state application “Diya”, which is some kind of digital passport, and it provides such a function. In this case, the identity is confirmed without transferring photos, videos, copies of documents, etc.
  

On the one hand we fulfill the KYC requirements of the regulatory authorities, but on the other hand we do not give them any data

In my opinion, KYC using an ID or other valid identification number is a good way to ensure user safety and security. However, the problem lies in "misuse". Using a bank ID number, or any ID number associated with a person personal identity, can be misused. This is because ID numbers are typically not highly exclusive, and are not kept highly confidential.

Furthermore, I prefer a "secret ID number", that can only be used by its owner. By this way, when certain parties need to identify a user or customer, the user only needs to provide that secret ID number.

To avoid any misunderstanding, what I mean is: the secret ID number contains no other important information, and is merely an identifier. Each identity holder has their own secret ID number, and only the government and the holder know it. Therefore, I believe that the identity management body (in this case; the government) needs to be involved in the planning and procedures, and maybe, that would be an easy solution to address the problem of leaked identity information. Even if, the secret ID number is leaked, there will be no other information, that can be misused by irresponsible parties. Additionally, the secret ID number can be regenerated, if someone need it for whatever the reason.

Well, I suppose my suggestion is quite complex, and would require a lot of time (system overhauls, the use of advance technology, and its integration), but I think it would make things easier.  Developed countries may be able to do it, but I am not sure country like mine (still developing) can do it anytime soon.

[Agbe]

From what you said about the BankID verification, it is known as KYC. Now they track your bank Identification and see all your information from the bank application or website and use it to verify you. Good, they can take the information from there and use it to what they wanted it for. So those who are afraid that casinos would leaked their information to other people has been officially done by the bank. So there is no escape again.

[Alex077]

Question to the participants of the topic - would you agree that instead of KYC there would be a procedure, for example, to confirm identity, without data transfer, for example, through banking applications ? For example, in Ukraine we have an effective model with identification through banking applications, i.e. through BankID identifier. Or through an official application certifying your identity. Again in Ukraine there is a state application “Diya”, which is some kind of digital passport, and it provides such a function. In this case, the identity is confirmed without transferring photos, videos, copies of documents, etc...

Yeah, the main problem with traditional KYC is not really the identity verification itself, but the fact that users are forced to send copies of their personal documents to many different companies, where the level of data security is not always clear.
And I think in this case if a user completes verification through a bank or an official government app where their identity has already been confirmed, it significantly reduces the risks.
Of course, there are still some nuances. This kind of system simply shifts trust to another party - a bank or a government service. Also, not every country has such advanced digital identification systems as BankID or Diya in Ukraine.

In my opinion, the future of KYC could move exactly in this direction - where users can prove their identity without having to share their full set of personal information every single time. This would allow companies to meet security and regulatory requirements while also reducing the risks of large-scale data leaks.

[mirakal]

I would go for digital verification. At least the casinos will not be holding my documents. If I am already verified by the bank, then casinos should partner with banks and that digital verification should already be enough for me to gamble in a casino.

But the bank still holds my KYC. I think banks are more reliable since there are only a few scam banks, maybe less than 1%, compared to casinos where there are many scams. It is always because of regulation. Banks are heavily regulated compared to casinos.

[Wakate]

From what you said about the BankID verification, it is known as KYC. Now they track your bank Identification and see all your information from the bank application or website and use it to verify you. Good, they can take the information from there and use it to what they wanted it for. So those who are afraid that casinos would leaked their information to other people has been officially done by the bank. So there is no escape again.

It is only physical casinos that can ask of these bank IDs not online casinos because there is no way they can have access to individual information when they are not from or register in that country. Online casinos would always prefer to ask for KYC information because that is the only way they can assure that you are not a different person.

[Dunamisx]

To make it simpler for ourselves, you should not make use of a gambling casino that always demand for kyc, because other ones don't require such and really be allowed to gamble as well as make withdrawals. We only need to understand some of their policies and what they don't support as well.

But when we fail to try to understand the particular casino we are using and what's the supported hand does not, it may be very difficult for us to enjoy using that platform to gamble because we may see them as being unreasonable with us with some of their rules and not knowing the fault is from us.

[hahay]

Unfortunately, not all countries legalize gambling, and therefore, even if you have experience with gambling sites linked to banking applications for KYC, I'm sure this isn't applicable in all regions or countries. Given such regulatory differences, KYC will undoubtedly still be implemented by some gambling sites. Even if KYC regulations are in place, but if the gambling platform in question is attractive, and offcourse customers will likely continue to use it, even if they submit KYC before playing.

[Doan9269]

Most of this country you see will not even permit gambling to be related to any thing that has to do with their banking activities, as many of them already see gambling as not being responsible enough for someone to be doing, which is why you will discover a country is making law against gambling all because they don't support it kind of way of practice, so we shouldn't expect much from centralized authority if you really want something more better for ourselves.

[shawonngp]

There is a lot of talk about KYC as an unsafe procedure, for some people it is acceptable, for some people it is not, some people think it is really dangerous, etc. The essence of the problem boils down to the fact that the user undergoing KYC has to pass data to a third party, in videnomers phone, e-mail, copies/photos of documents, statements, etc. information. Yes, this does not carry the best connotation, more so in case of data theft, in case of inadequate security of the party conducting KYC.

Question to the participants of the topic - would you agree that instead of KYC there would be a procedure, for example, to confirm identity, without data transfer, for example, through banking applications ? For example, in Ukraine we have an effective model with identification through banking applications, i.e. through BankID identifier. Or through an official application certifying your identity. Again in Ukraine there is a state application “Diya”, which is some kind of digital passport, and it provides such a function. In this case, the identity is confirmed without transferring photos, videos, copies of documents, etc.
 

On the one hand we fulfill the KYC requirements of the regulatory authorities, but on the other hand we do not give them any data

Yes, that would be much better and safer. Personally, I almost never leave personal information anywhere, and I immediately walk away if someone asks for a selfie with my passport in hand. You don't have to look far to understand how dangerous such actions are. Nowadays, just typing "selfie with passport" into a search engine will return a huge database of photos of people who have taken such a step. Now anyone can use their personal information. They can even take out a loan, and the person will only find out about it later. It's always worth thinking twice.

But if you have to provide the government's ID in Digital verification, then there is no difference between KYC and Digital verification, because through the government's ID, they can access all your personal information in the government's database. If I have not yet submitted KYC to any casino site, because I always try to avoid those casino sites that require KYC, but also, in many cases, online, I have to submit KYC, so I always have to be afraid of my personal information being leaked. Right, it is very dangerous if someone asks me for a selfie with my national ID or passport, because if this information is leaked, there is a high risk of misuse, especially what you mentioned. Yes, even if anyone searches Google, they can find a lot of sensitive information about many people.

[tygeade]

would you agree that instead of KYC there would be a procedure, for example, to confirm identity, without data transfer, for example, through banking applications ?

Yes, indeed. If the third party that takes your documents for verification at a casino is well-trusted, then I'm more than happy to submit my documents for KYC. As you mentioned, the problem is these cheap third-party providers who are not well known and there is always a risk of data being sold or leaked through hacks. Every now and then we hear that some site got hacked and data was compromised. I remember Shuffle and Stake both sending some emails about the same time, although I don't know what data was compromised.

I'm afraid gambling sites will never accept authorized KYC because one of the main reasons to force KYC is to scare users and sometimes a reason to hold their money. For example, if they find a gambler is betting on rigged games, they can tire him into an endless loop of KYC, which is not possible if they involve a standard process involving legal authorities.

[Agbe]

From what you said about the BankID verification, it is known as KYC. Now they track your bank Identification and see all your information from the bank application or website and use it to verify you. Good, they can take the information from there and use it to what they wanted it for. So those who are afraid that casinos would leaked their information to other people has been officially done by the bank. So there is no escape again.

It is only physical casinos that can ask of these bank IDs not online casinos because there is no way they can have access to individual information when they are not from or register in that country. Online casinos would always prefer to ask for KYC information because that is the only way they can assure that you are not a different person.

That should not be an international identification but it is a regional method of identifying their players. The example he game it is only for gamblers in the Ukraine and not in any other country. And if it is only for Ukraine as the Op said they have a an effective way of doing it. Which means, they can use your name, email or anything that can be used to extract the information from the Bank is within them and not shared outside.

[Nathrixxx]

What meaning of Us don't know is that even the physical physic verification we are talking about is another form of kyc procedures, don't we think that it will be even more complicated when we involve banks to take charge of our information when it comes to gambling and verify the process for us, we cannot secure both our financial aspects together with gambling verification with banks all together, the risk would have been much higher than before, what we needed instead is true decentralization.

[nimogsm]

Most of this country you see will not even permit gambling to be related to any thing that has to do with their banking activities, as many of them already see gambling as not being responsible enough for someone to be doing, which is why you will discover a country is making law against gambling all because they don't support it kind of way of practice, so we shouldn't expect much from centralized authority if you really want something more better for ourselves.

And there's some logic to it. If you just log in to a website through your bank, you could lose all your savings in a heartbeat in a fit of excitement (of course, there's nothing stopping you from transferring them from your bank account to your gaming account). I also wouldn't implement something like this, as I see more risks than benefits for the player.

[TastyChillySauce00]

Whether it's manual KYC or digital verification. Casino will always store the data you accept them to have access to it. If you don't want your data to be leaked, then no KYC casino is the solution.
I don't think digital verification will help you to avoid your data to be stored by casino.

[DrBeer]

There is a lot of talk about KYC as an unsafe procedure, for some people it is acceptable, for some people it is not, some people think it is really dangerous, etc. The essence of the problem boils down to the fact that the user undergoing KYC has to pass data to a third party, in videnomers phone, e-mail, copies/photos of documents, statements, etc. information. Yes, this does not carry the best connotation, more so in case of data theft, in case of inadequate security of the party conducting KYC.

Question to the participants of the topic - would you agree that instead of KYC there would be a procedure, for example, to confirm identity, without data transfer, for example, through banking applications ? For example, in Ukraine we have an effective model with identification through banking applications, i.e. through BankID identifier. Or through an official application certifying your identity. Again in Ukraine there is a state application “Diya”, which is some kind of digital passport, and it provides such a function. In this case, the identity is confirmed without transferring photos, videos, copies of documents, etc.
 

On the one hand we fulfill the KYC requirements of the regulatory authorities, but on the other hand we do not give them any data

Yes, that would be much better and safer. Personally, I almost never leave personal information anywhere, and I immediately walk away if someone asks for a selfie with my passport in hand. You don't have to look far to understand how dangerous such actions are. Nowadays, just typing "selfie with passport" into a search engine will return a huge database of photos of people who have taken such a step. Now anyone can use their personal information. They can even take out a loan, and the person will only find out about it later. It's always worth thinking twice.

Modern KYC methods that require photo or video verification pose a significant data security risk in light of advancements in AI and the generation of photo and video content.
In other words, once we share such data with a third party, we are effectively putting ourselves at risk, because someone could use that data to generate new photos and videos, thereby enabling them to impersonate you-essentially stealing your digital identity.
 

[serjent05]

I don't see any difference, even if we use the official app from government or banking channels for the verification process still they have to share the data with the casino or the exchange to verify the credentials that means the data can be stored somewhere and even the banks can use your data as they wish which is the reason why we get random calls for credit card offers and such.

Countries that protects the privacy will have laws that restricts them from using and in case if they found in data break or unauthorized access they wil face the legal consequences.

The difference would be the handling of the user information and data.  With the casino doing the verification themselves and handling the security of data, they might be less secure since their forte is on introducing gambling games services not securing the clients' KYC data.  So in terms of security, it is said that the third-party licensed KYC provider gives more since it iss their job and they are licensed for it.

[DrBeer]

I see no difference. When you are doing KYC, you're sending the platform your identity. When you're verifying through your banking app, it's the same like you're granting the platform to access the data stored in your banking account. Both are the same things.

Even if you argue bank can store your data better, there's no guarantee bank can't get leaked too. There will always be insider that may sell your infos.

That's why both verifications method posses the same risk.

No, that’s a misconception! Or rather, it’s mostly a misconception. Let me explain: banking systems won’t share your photo or a scanned copy of your passport with your signature. Banks are subject to some of the strictest rules regarding the collection and storage of information. At least that’s how things stand in Ukraine, though I can’t say for sure that it’s the same in every country-but that’s a matter of how the government and regulators approach the security of citizens’ private data. A leak of banking data would create enormous problems for the bank, potentially leading to the revocation of its license.

[Nwada001]

The world is developing; digital KYC won't be a bad idea to me as long as you don't have to rely on a third party to verify that individual ID number, which could still break the same thing you are trying to avoid.

Another option I can think of as a safe option is similar to what YOSHIE has recommended: if the casino can come up with a single verification process where we don't need to submit our personal documents but we are directly registering ourselves on their system using our live image and fingerprint, maybe with little personal information, and each time you scan your finger, account ownership of the real owner will be verified, or Face ID can also be applicable to make it more authentic.

[Mia Chloe]

~snip

KYC can be very disgusting. There was a reputable casino here on this forum I had an account with that I randomly played on if I did feel bored and annoying I made a deposit a couple weeks ago and played till I had 19x my initials and these guys were forcing KYC on me which I so annoying.

This is basically same casino I have played and withdrawn from countless times and also even lost it all countless times. At some point I just got so pissed and let the entire balance burn out because the whole stuff was basically not making any sense.

[Odusko]

In my country we have a national identity number, this database contains all the data and information of your personal document and any where you present the NIN number all other datas can be accessed and verified without handing them physically to the person requesting it for verification like banks or other financial institutions, even exchange use it to for verification, although this may not be 100% same as what you are saying but something very close to your opinion.