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Cloudbet - Casino did not conduct KYC and allowed continued big transactions from gambling addict

Ruling

Found for the Player - Cloudbet has informed us that they will not cooperate with this service to manage player complaints.

Read our Cloudbet Review.

Player's Complaint

Casino Operator Cloudbet never conducted KYC as required by regulator and within a short period allowed gambling addict to make transactions in total of 168.397$ without confirming or verifing anything, relating to the responsible gaming and code of conduct policies, that a young kid as me could never afford such transactions without dept.

According to Curacao e-Gaming's General Terms and Conditions: "an online gaming provider is any entity, sublicensed by CeG to provide online gaming services, licensed by Curacao Gaming Control Board." - CeG also writes in their Code of Conduct "14. The Operator is required, the ordinance notwithstanding, to at all times comply with all Curacao local as well as international rules and regulations.

Within the Curacao Gaming Control Board in Curacao Article 5.2 b states that Casinos have the obligation to undertake Customer Due Diligence (CDD) measures when: "carrying out occasional transactions above the monetary equivalent of US$ 3,000;"

The Casino Operator is also licensed with the E Gambling Montenegro, which also states within their AML policy that KYC should be applied when transaction of 2000€, so the Casino Operator is licensed by two regulators that requires this.

The EU law also require KYC when above 2000€, so it is a breach of both the Curacao, Montenegro and EU laws.

I have tried to solve this with the Casino, but they writes back to me as quoted "There was no need for any such procedures to take place" and "The amount of your deposit will not fall into these cases, I'm afraid therefore we are not held accountable for your gameplay".

But if 168.397$ in transactions and 93380$ in deposits does not fall within the amount, and thats the excuse by the Casino operator, then i dont know which amount falls under such cases, when regulator requires as above. I have screenshots of all transactions and communication, but Casino operator has stopped answering emails.

If the casino operator don't confirm the identity and conducting KYC/CDD as required by the law especially with such big amounts how can they in any case fullfill the requirement by the regulator, which require to report unusual transactions as stated in GCB in AML section 8.5, combination or pattern of transactions involving a total amount in excess of the monetary equivalent of NAƒ 5,000. (2.400$) - And also to fullfill the requirement to check if user has requested excluded, if they do not know their identity.

Following the Curacao AML law, since the first 3000$ should not require KYC/CDD, my complaint is not for the first 3000$, they are for the casino to keep - But the amount above this, if we take deposits minus withdrawals is 15.364$.

Read the casino review

3 Responses

User icon
thepogg
January 4, 2022

Hi qwrath - welcome to ThePOGG.com!

Please read our Complaint Guidance to ensure that you fully understand how our complaint management process functions.

Unfortunately you have chosen to play with an operator that is both negatively listed with this service and who has historically been non-cooperative with complaints submitted to us. While we will try to contact the operator on your behalf the chances of a successful mediation are low.

Thanks,

ThePOGG

User icon
qwrath
January 4, 2022

Hello ThePOGG

Thank you very much - Let me know if you need any further information or screenshots from me.

User icon
thepogg
February 12, 2022

Hi qwrath,

Sadly this operator has informed us that they will not cooperate with the management of complaints via this service. At this juncture we have no reasonable expectation of this changing.

Sorry we could not be of further help.

ThePOGG

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Agreement

qwrath consented for ThePOGG to act on their behalf and share the personal information that they provide to ThePOGG with the following agencies for the purposes of resolving their complaint:

  • CloudBet
  • Curacao
  • Halcyon Super Holdings

January 3, 2022

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