Buffalo Partners KYC

[AussieDave]

@TheGooner - so what about bitcoin, how are they going to trace that, if it's untraceable?

 

[TheGooner]

@TheGooner - so what about bitcoin, how are they going to trace that, if it's untraceable?

Bitcoin is NOT untraceable. In fact it's the opposite of untraceable as EVERY single transaction is recorded on a public ledger called the BLOCKCHAIN.

Now it's true that this shows address to address movements, but you can identify the holders of addresses.
And eventually if you want FIAT you will goto an exchange - and by referencing the exchange KYC details the owner of the address is found.

There are privacy enhanced coins/tokens such as Monero, Dash and Pivx. But Bitcoin is totally and completely traceable if you have the resources to ask exchanges for details (the taxman)


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Refering back to my previous missive about these tax requirements - they are known by FATCA (Foreign Account Tax Compliance Act) which was the original US version chasing US citizens and GATCA (Global Account Tax Compliance Act) and if you open a bank account in most OECD countries they'll need to ID you again and give you the 3rd degree about foreign citizenship and tax ownership. It's attempting to catch tax dodgers and front companies.

My bank (WESTPAC) did to me recently in NZ, an so I'm sure it's occuring in Australia, UK, and probably Canada, and most of Western Europe too.
The days of the untrackable, untraceable, internet is fast becoming a thing of the past. The solution seems to involve complete identification of money movement especially if it goes across borders.

Search FATCA and GATCA on Google for a whole lot more info on these regulations.

 

[KasinoKing]

I haven't been asked to supply anything to Buffalo...

KK

 

[Engineer]

I have no problem sending documents if the request is valid. Going through the FATCA verification process with my banks was a breeze because the requests came in writing, and because the new law was clearly explained to me. I had no reason to object. This is not the case with the vague email from Buffalo Partners.

Some of us want to know a bit more about requests like this before we comply. Blindly sending documents that could be used to commit fraud in your name is not a very bright thing to do.

The recent Equifax data breach means virtually everyone's personal information is out in public. Social security numbers, names, addresses, everything. Identity theft and fraud are a very real possibility right now. If someone has your SS number, name, and address, and if you give them a scan of your photo ID and a utility bill -- now they have every piece of the puzzle, and you may as well have shot yourself in the face.

There is a fine line between paranoia and prudence, and at this point I think it is very important that we be extremely prudent by asking questions and getting proof before we send important documents to who-knows-where. Especially when it involves a company that may or may not be in cahoots with a criminal hacker, who may or may not already have the other pieces of my personal information.

I hope you see now why I am taking a cautious approach with this particular company. I am not "ranting or acting indignant" as Gooner put it -- I am just asking questions and making sure this is a necessary, legitimate request.

If Buffalo can't or won't answer my questions, then I will not send anything to them, and I guess I won't get paid. I would rather sell the accounts.

 

[NDG]

I hope you see now why I am taking a cautious approach with this particular company. I am not "ranting or acting indignant" as Gooner put it -- I am just asking questions and making sure this is a necessary, legitimate request.

Exactly. This is what I am doing as well. If the documents are necessary and it is a legitimate request that
is based on some requirement, law, or regulation.. then I have no problem with it. But, I'm not quick to
send documents to an affiliate program, unless I know that their is a solid reason why they need them.

 

[TheGooner]

I have no problem sending documents if the request is valid. Going through the FATCA verification process with my banks was a breeze because the requests came in writing, and because the new law was clearly explained to me. I had no reason to object. This is not the case with the vague email from Buffalo Partners.

What is the difference between "writing" and an email? Are you REALLY going into semantics about virtual messaging? I assume not.

As for the explanation - it was 8 paragraphs explaining what they wanted and that it was due to KYC legislation.
KYC procedures and FATCA are not new - do you really expect a quote of the passage of text and article required?
Did your bank do that? Mine didn't - they explained the process generically and the forms they needed to fill - not the exact legal statute.

Anyway - do as you will. If the reaction on here is typical of the industry - I see a significant culling of affiliates in future.

 

[Biti]

You could make copies with for example a statement that it's meant for a KYC process for affiliate program A or blackmark some details they don't need. Then the copies won't be useful to commit any form of identity fraud. If you don't even trust them with a copy of your id, why should players trust them with their money?

I agree with The Gooner here. Affiliates can expect more of this kind of requests. I know many affiliates are working with offshore companies bought from an IBC-farm, e-wallets and withdrawing money abroad, getting everything in their player account, etc.

 

[Biti]

Must say, also a lot of programs are not very transparent.

Casino based in Gibraltar, program based in St Vincent and I get paid from a company residing in Malta. How do I explain that to a tax officer?

Some brands do not even want to say where they really reside and I also received two times fake company details...

 

[Engineer]

When I said "in writing," I meant the bank sent a physical paper letter to me, on their letterhead. It was several pages long and had details about the new law that I could research and verify on my own, which I did.

do you really expect a quote of the passage of text and article required?

Yes, I do. I would like to know specifically what they are referring to so I can check it myself.

FATCA and KYC aren't new, but expanding KYC to affiliates is new, and I want them to provide me with proof that such a change in the law is actually true and being implemented -- not just something they are pulling out of their ass to make it more difficult for affiliates to get paid.

 

[Engineer]

"Ask and you shall receive."

Hi there Dave,

The need for KYC has come up due to our new partnership with the Betway Group, and the multiple licences that they hold.

More specifically as they are a registered UK business we must follow the below set of legislations to ensure that we correctly apply due diligence to our customers and business relationships.

a) Proceeds of Crime Act

b) The Money laundering, Terrorist financing and Transfer of Funds (Information on Payer) Regulations 2017

It is a requirement that as a business we carry out customer due diligence in regards to our relationships with customers, partners and business relationships. It is also our approach to ensure we screen relevant business and individuals in line with our AML requirements, to ensure we do not pay any financial sanctioned individuals. We also have the responsibility to ensure we have correctly identified any relationships with politically exposed persons.

If you would like additionally information please go to the following site: http://www.legislation.gov.uk/uksi/2017/692/pdfs/uksi_20170692_en.pdf and please refer specifically to Part 3, Chapters 1, 2, and Part 4.

Kind regards,

Buffalo Partners Support

 

[AussieDave]

It would seem, going on Enginer's posted reply from Buffalo, the cataylst for these KYC data requests, is due to Betway et al now being (offically) housed in the BP stable. Going forward, we may start to see programs who have UK licensed casinos, also requesting KYC info. Time will tell I guess

 

[Biti]

I think in the end every program operating within the UK and/or EU will require this kind of documents.

 

[TheGooner]

Going forward, we may start to see programs who have UK licensed casinos, also requesting KYC info. Time will tell I guess

As I said earlier I had already received and processed several requests from UK facing programs - both sportsbook and casino.

 

[Engineer]

I will be sending in my documents later this week, now that I've had a chance to look at the details and verify things for myself.

I like Biti's suggestion to put unique text over top of the scans so that they can't be used for anything else except KYC verification. I plan to put something like, "Sent to [AM Full Name] of Buffalo Partners on 27 Sept 2017 to meet KYC due diligence requirements," or something to that effect.

 

[AussieDave]

Just received an email from BP support, stating, they now require my email address to be seen on my Ecopayz account... Why didn't they stipulate this previously

Anyway, my email addy does not show, or is displayed on the main account page. Instead, had to source that info from my 'Personal Details' page.

One benefit there (apart from my email being listed), is my Driver's License #, which was also sent to BP as Goverment Issued photo ID. So, that DL # is on my Ecopayz as well as the KYC data sent to BP. I sure hope this is not the start of a barrage of hoop jumping. I guess I'll now have to wait another 5 or 6 days before I hear back from BP, to whether I've cleared their KYC stuff.

 

[AussieDave]

Talk about a mess.
Went away for the long weekend. Return today to find yet another request from BP for a screen cap of my Ecopayz account showing my name and acc #. FFS I've already sent this along with their KYC document, DL, Proof of Address and other Ecopayz account (1x acc#/name and 1x email address and name with personal details) all data/time stamped.

My AM was in Malta last weekm but promised on his return Friday (29'th Sept) to sort this out.

I go to contact him on Skpe, only ti discover his on annual leave till the 16'th, which is 2 or so days after their payment run. All my documents have my AffID and name attached, how does one lose these important documents etc???!!!

I"ve got a bad feeling about this, I sure hope they are not trying to pull some dodgy stunt not to pay people....

 

[KasinoKing]

Last week I finally found the original e-mail from them in my "dirty rotten spamming twats folder"...
Sent off the documents they requested.
Heard nothing since...

KK

 

[AussieDave]

CC'd to my aff manager (who isn't really an aff manager, he's higher up the chain). Anyway, he got back to me (even though on vacation) and as far as I can tell it will be finally all sorted out. Phewwwwwwww, that's 1 less headache

 

[falseadoom]

Anyone else notice their commission % changed this month?

 

[AussieDave]

Nope, mine is still 25%, and 20% for bingo.

Back on topic...Has anyone received notification that their KYC documents have been approved and validated?

Getting a bit antsy now, as payments are sent out next Friday.