What is Enhanced Due Diligence?
Enhanced Due Diligence, or EDD, is a risk-assessment protocol for high-risk or high-net worth players. All casino and bingo gaming operators must have an EDD process in place. It involves a detailed look at certain financial documents in order to confirm the legitimacy of a player and check for potential criminal activity.
Why do we carry out Enhanced Due Diligence checks?
As a gaming operator, we’re obliged to carry out ‘Know Your Customer’ (KYC) checks in order to comply with legal and regulatory requirements set out by the government and UK Gambling Commission. KYC is the process of gathering and verifying information on players to ensure they are who they say they are, are of legal age to gamble, and are not involved with money laundering or another type of financial crime.
Part of KYC is Enhanced Due Diligence – a more detailed examination of certain documentation and information.
Who goes through the EDD process?
The vast majority of players will never enter the EDD process. However, when a player reaches a certain monetary level, checks relating to the source of income used to fund their gameplay are required.
What documents are required for an EDD check?
If you trigger the EDD process at Butlers Bingo, we’ll request some documentation, such as recent bank statements and payslips or evidence of alternative sources of income that fund your gameplay.
We know this request can seem quite intrusive but, just like financial institutions and other organisations that handle money on a regular basis, we need to provide a fair, open and credible service that meets the requirements of our regulatory body.
What happens to the documentation after it’s checked?
All documentation is stored and treated in a safe and secure manner at all times. We’ll never use your documentation for anything other than fulfilling our regulatory and legal obligations.
Do all Gambling Operators carry out EDD checks?
Yes. All gambling operators in the UK must demonstrate that they carry out the necessary checks in line with regulatory compliance requirements set out by the UK Gambling Commission. Although it can be intrusive and inconvenient at times, we at Butlers Bingo are committed to complying with these regulations and work tirelessly to ensure the wider bingo/casino gambling industry is a safe, crime-free environment.
What happens if I don’t complete the EDD checks?
Once you enter the EDD process, there is a set timeframe in which to successfully complete the process. We’ll contact you with details of the information we need and the timeframe. Unfortunately, if you don’t successfully complete the process within this period, we’re obliged to close your account with us.