Concern over sites offering cash in exchange for ID to open betting accounts

Posted: January 3, 2025, 02:21 pm.

Last updated: January 3, 2025, 02:21 pm.

Consumer groups in the UK are warning cash-strapped Britons to be wary of a growing trend of websites offering easy money in exchange for copies of users' personal identity documents.

These documents like passport, driving license and proof of address are used by gamblers to open many online betting accounts.

Sam Richardson, Deputy Editor of Consumer Publications Which one? Wealth, Advises “extreme caution” when dealing with such sites.

We would not recommend that people hand over personal information (…) to unfamiliar companies that may spend money on your behalf,” he said. Guardian Newspaper.

“Anyone who wishes to sign this agreement should first discuss it with their bank to ensure that it does not conflict with any of the bank's terms and conditions.”

Bonus abuse?

Guardian This week we contacted one such site, Moneyful.co.uk. The site promised to pay its users £100 (US$124) in exchange for the use of their ID, with an additional £100 for anyone who referred them to the scheme. The site claimed to use sophisticated computer software to make money from betting companies.

Guardian Moneyful is speculated to use match betting, where gamblers open multiple accounts with betting sites to take advantage of the sign-up bonuses they offer, a practice known as “bonus abuse” in the online gambling industry. Is known.

In April 2023, gambler John Howard was sentenced by a UK court to five years in prison for fraud after he was found to have opened more than 1,000 Bet365 accounts so he could claim bonuses. According to court documents, he used the ID documents of willing participants to make a profit of approximately £236,000 (US$295,000).

There is no evidence that Moneyful and sites like it are guilty of bonus abuse. Winning professional sports bettors often see their accounts closed by online sportsbooks and need access to “clean” accounts to place their bets, which usually have high volumes.

'Excellent' on Trustpilot

Moneyful's lawyers told Guardian It was “absolutely fair to say that there are risks in handing over personal data to any organisation” but added that there was nothing illegal about the operation.

There has been no attempt to hide anything from the public, the lawyers said. “Our client pays corporation tax and is registered for VAT (UK Sales Tax). It has a TrustPilot score of 4.3 based on 67 reviews (and is graded as 'Excellent' as a result).”

He also took issue with the suggestion that consumers should be wary of companies offering “passive income”, stating that “Stocks and shares ISAs (a tax-free investment account) are a form of passive income.”

Despite Moneyful's lawyers giving a good description of the company, its website was taken down on Friday and listed for sale by a domain name registrar.