Bovada's Commitment to Anti-Money Laundering (AML) Practices

Bovada is no stranger to committment. They've committed to providing excellent slot games. They're committed to supplying some of the industry's top table games along with hosting one of the industry's most popular poker rooms. It's no surprise Bovada is also committed to complying with all laws and everything necessary for them to run a fair, legitimate and safe business.

To be a safe and legitimate casino, you have to protect your platform from illicit activities and players who want to abuse the platform or use it as a cover for their illegal activities. This is where anti money laundering laws come into play. Bovada takes steps to adhere to regulations related to preventing money laundering as an activity. This prevents the funding of terrorism or illegal organized crime. They can prevent money laundering by complying with laws, reporting to law enforcement if necessary and monitoring player activity and keeping their eyes peeled for anything suspicious.

Money Laundering is a crime where organizations, or sometimes individuals do their best to conceal the money they've made through illegal activities by funneling them through legitimate businesses. Many different kinds of businesses can be targets for money laundering and unfortunately online casinos can sometimes look like the perfect candid to a criminal. Money laundering comes with consequences for everyone involved, whether it's consequences for the individual committing the crime, or consequences for the economy as a whole. Money laundering can be used to fund terrorism and organized crime.

In a perfect world, no online casino would have to worry about illegal activity. Unfortunately, that's not the real world. Financial crimes are common nowadays, and casinos can be a breeding ground for illegal activities like money laundering in particular. This is why Bovada works hard and takes every necessary measure to prevent these activities. Bovada complies with AML regulations to prevent money laundering on their platform.

Bovada takes many preventive measures to protect their platform from criminal activity, such as assessing customers and determining through their activity how much of a risk they are and their chances of being a person who does commit fraud or launder money through legitimate platforms. They keep their eyes out for large transactions while monitoring their gaming activity. They keep a special eye especially on high rolling players or players who operate using their rewards program because it takes an exceptional amount of time and money to make it to the rewards program, however a suspicious activity might be likely to reach the rewards program with little game activity.

There are also KYC requirements, which can be tricky because they do vary by jurisdiction. However, most KYC run using a few fundamental policies and practices. One of those is through verifying customer identities. If you've played at online casinos long enough, you'll know most legitimate companies require proper verification of your identity. Bovada is one of those platforms that will collect necessary information like your address, your date of birth, and your name and verify it using government issued IDs or other official documents. KYC requires companies to verify the source of the income, along with monitoring player patterns to ensure nothing fishy is going on.