Safe and Secure Internet Gambling Financial Model.
11
Safe and Secure Internet Gambling Financial Model
-
Upload
brianne-blake -
Category
Documents
-
view
214 -
download
1
Transcript of Safe and Secure Internet Gambling Financial Model.
Safe and Secure Internet Gambling Financial Model
© UC Group 2007
Safe and Secure Internet Gambling
Payment Authorization
Transfer of Funds
© UC Group 2007
Payment Authorization
Payment Authorisation
Transfer of Funds
When purchasing, the customer provides
(at a minimum):
• Name & Address
• Credit Card Number & Security Code
• Expiration Date
• Amount
When registering, the customer provides
(at a minimum):
• Name & Address
• Telephone Number
• Identity Number/SSN
• Date of Birth
Once registered the customer receives a unique user name & password.
© UC Group 2007
Payment Authorization
Payment Authorisation
Transfer of Funds
Information provided by a customer during registration is confirmed via third party Know Your Customer (KYC) systems, after which the following checks are performed:
Legal Age - is customer of legal age? Check both DOB provided & whether confirmed by KYC.
Legal jurisdiction - is customer located in a legal jurisdiction? Also confirm residence, details provided & whether confirmed by KYC.
Not barred from playing - do details exist on any blacklist, whether fraud or compulsive gambling (including exclusions)?
Limits – are limits in place (e.g. individual bet limit, cumulative loss limit)? How much has the customer gambled over a certain period of time?
© UC Group 2007
Payment Authorization
Payment Authorisation
Transfer of Funds
The Financial Services Provider uses 3rd party IP Geo-location databases to confirm the Customer’s location & blocks the transaction if from a prohibited jurisdiction
Under Age Checks: is a credit card being used?
If so, is the card sponsored?
Customer not prohibited. Do details exist on any blacklist (compulsive gambling, exclusion, fraud, OFAC, etc)?
© UC Group 2007
Payment Authorization
Payment Authorisation
Transfer of Funds
The Operator’s Bank passes the transaction to the Customer’s Bank for approval.
© UC Group 2007
Payment Authorization
Payment Authorisation
Transfer of Funds
The Customer’s Bank checks any “Hot Card” lists to ensure the card is not stolen.
The Customer’s account is checked to ensure sufficient funds, in which case the transaction is approved.
© UC Group 2007
Transfer of Funds
Payment Authorisation
Transfer of Funds
The Customer’s Bank withdraws the funds from the Customer’s account and transfers it on to the Operator’s Bank.
© UC Group 2007
Transfer of Funds
Payment Authorisation
Transfer of Funds
The Operator’s Bank transfers the collected funds to the Financial Services Provider.
© UC Group 2007
Transfer of Funds
Payment Authorisation
Transfer of Funds
The Financial Services Provider transfers funds to Operator NET of
license / tax / fees.
Prior to initially transferring funds, the Financial Services Provider will have performed comprehensive due-diligence on the Operator, including the checking of anti-money laundering and fraud databases.
Customer receives FULL amount of deposit.
© UC Group 2007
Transfer of Funds
Payment Authorisation
Transfer of Funds
Operator pays taxes as required by law
Financial Services Provider transfers Federal, State and County license / tax revenues to relevant body.
