What is KYC (Know Your Customer)?

Definition: The process of verifying a customer’s identity and key details (e.g., name, date of birth, address) to meet compliance requirements and prevent fraud and money laundering.

What KYC typically includes:

Identity verification: government ID (passport/ID card/driver’s license).
Address verification: utility bill/bank statement or electronic checks.
Age verification: ensuring the player is of legal gambling age.
Payment method verification: confirming ownership of cards/e‑wallets where needed.
Liveness/selfie checks: to prevent document spoofing (in some flows).

When KYC is triggered:

Before first payout (common).
At certain deposit/payout thresholds.
When risk indicators appear (high-risk geos, unusual activity).
When required by local rules.

Key term: KYC refresh - re-checking customer info periodically or when circumstances change.

Back to Glossary

Related Terms

Source of Funds / Source of Wealth

Source of funds (SoF) is the origin of the money a player uses for deposits. Source of wealth (SoW) is how the player built up their overall wealth.

Customer Due Diligence (CDD / EDD)

Customer due diligence (CDD) is the set of checks an operator carries out to know who the player is and assess their risk level. Enhanced due diligence (EDD) is a deeper level of checks for higher-risk cases.

Transaction Monitoring

Transaction monitoring is the automated review of player payments and betting activity against rules and thresholds to detect activity that needs a closer look, such as possible money laundering or fraud.

Open Banking

Open banking is a way of sharing bank data and starting payments through secure bank APIs, with the account holder’s consent. In iGaming it is used for account-to-account (A2A) deposits and payouts.

let's do business