News
New Security Procecedures at Befair
The following was taken from the Betfair site (28th September, 2004) and should be read by anyone who uses Betfair or any of the betting exchanges such as Sporting Options, BetDaq and the rest.
This will effect everyone which uses the exchanges and this should be acted upon instantly to prevent any problems with having the accounts frozen. This will affect everyone using the Weak Favourites service and a good proportion of the UK Horse Racing subscribers.
Betfair can be contacted by phone at:
From UK 0870 0110 444
Ireland 1-800 944 000
Australia 1-800 759 354
International 00 44 20 8834 8060
There are a couple of important items which are unclear in this message and we have contacted Betfair to clarify them. The clarifications which we would like to make are:
* The 14 day period which is mentioned is from the time that you are personally requested for your documentation and not 14 days of this general announcement.
* They need three items of information;
a photo-id,
proof of an address and,
proof of the account which is used with Betfair.
We have been told that they have already processed 45,000 of their customers as of today.
The announcement is reproduced below:
KYC Processes at Betfair
This is to inform you about some processes that Betfair are undertaking and what customers may expect in the coming months.
Know Your Customer
You may have seen recently press coverage and reports about a series of initiatives that we are undertaking in partnership with the Department of Culture, Media and Sport (DCMS) and Gamcare. We have in the past month signed the Betting Exchange Trade Association (BETA) Code of Conduct.
As a company, we pride ourselves that integrity and transparency are the cornerstones of our business. As part of the Code of Conduct, we are undertaking a series of checks on our customers. As you can imagine, as an online and telephone business, with large sums of money being exchanged, we have a considerable responsibility in combating fraud. In many ways, we act in the same way as any secure financial institution such as a bank, and it is critical that we can ensure that we know who is behind every account that is registered.
What this means for you:
In the coming months, we will be asking our customers to positively identify themselves to our Verification Team. This does not in any way affect your rights to confidentiality, or to your Opt-In status regarding Marketing or Promotional activity. We do however maintain the right to contact you regarding the handling of your account. It’s important to note that failure to comply with any element of our KYC policy may incur account suspension.
In the first instance this will involve confirming your name and address, your age and your contact details. This may be confirmed either on the website via the Log In Message board or by your telephone trader. Please take the time to confirm these details when they are requested: it is vital that we have correct contact details for every account.
The second stage of the process involves providing proof of Identification, Address and Source of Funds. This will be physical documentation, and it will need to be submitted to the Verification Team within a time limit. We will contact you in the first instance via our new Login Messageboard feature, which will appear when you logon to Betfair. We will confirm this request by email.
Please note: Failure to provide this information when requested could result in your account being suspended. Any suspended account can be quickly reopened once the required documentation is received.
We entirely appreciate that this will inconvenience you to some degree and, naturally, some customers may find this process intrusive. Please be assured however that all of this information is gathered in the strictest confidence and is not available to anyone outside of our Verification Team.
Your account and any information need only be verified once, and this verification will apply to any other accounts that you may hold with us. If you have other accounts linked to you, please make this clear to the Verification team when submitting your details.
While you have no obligation to provide this information until we request it, if you would like to minimise inconvenience, you are free to provide this information below now if you wish.
IDENTIFICATION TYPES ALLOWED
* Personal Identification – Photo ID required eg:
* Copy of Passport, Copy of Drivers licence (new version)
If no Photo ID available then a copy of an official document – Birth Certificate/UK Old style licence, Marriage Certificate etc.
* Proof of address
Copy of Utility Bill or copy of recent Bank Statement / Credit card statement showing residential address. Financial information may be blacked out but we need to clearly see the Name, address and account number
*Proof of source of Funds
Copy of front of a card used to fund account (Note for security you can black out main card number except for last 4 digits)
Copy of Bank Statement for the Bank account used to fund your Betfair account.
Copy of Credit/Debit Card statement used to fund account . Financial information may be blacked out but we need to clearly see the Name, address and account number
METHODS OF SENDING DOCUMENTS TO BETFAIR
Post:
Betfair Verification
Waterfront, Hammersmith Embankment
Chancellors Road
London, W6 9HP
United Kingdom
FAX:
UK: 0208 834 8011
Australia: 1- 800 –068593 (free fax line)
Other international +44 208 834 8011
SCAN and EMAIL;
kyc@betfair.com
Betfair Customer Services 24 Sep 16:16
FREQUENTLY ASKED QUESTIONS
Why are you doing this?
KYC identification is important for the protection of you, our customers, and the integrity of the exchange. Betfairs platform brings wagering unprecedented transparency and an unprecedented opportunity to uphold the integrity of sport and racing. Proper KYC procedures allow us to maximise both.
We have taken the step of signing a Code of Conduct with the government which mandates that we will carry out KYC checks. While it is a voluntary step for Betfair at this point it is almost certain that legislation will come into place at some point which will make this type of customer identification mandatory across the UK online e betting industry.
Do I really have to give you this information?
Yes it is a requirement that we collect this information.
What happens if I don’t give it to you?
Unfortunately we would be forced to suspend your account temporarily until we receive the documents. If you have no intention of sending the documents we will be forced to close your account and refund any current balance to you.
How long do I have to get this information to you?
You now have 14 days to supply the information. If we don’t have it by then we will be forced to temporarily suspend your account until they are received and validated.
Can I reactivate my account if it is suspended?
Your account will be unsuspended as soon as the documents are received. Please note that it may take up to a maximum of 48 hours to reactivate an account.
How do I know this call is real?
We are happy for you to call Betfair back on your usual number so that we can confirm the information we have just given you
What happens to the information I give you?
You’re just going to give this information to 3rd parties!
Your data is covered by both Betfairs privacy policy and by the UK Data Protection Act 1998. We are unable to give information to 3rd parties except under very specific circumstances such as a court order of under the bounds of a Memorandum of Understanding with a recognised sporting body.
I’m worried about security ?
How can I be sure no-one else will get my personal information ?
Faxes are not printed but are stored electronically on a secure server. Emailed documents are also stored on the same server which can be accessed only by the Betfair KYC team. Posted documentation is stored in locked cabinets in a secure room on the Betfair premises. We understand the customers concern about security and ensure that all communication is safe and sighted only by those in the verification team.