Tag Archives: AML

UKGC’s AML guidance places high responsibility on industry officers

The UK Gambling Commission (UKGC) begins 2019’s legislative agenda publishing its industry guidance on ‘preventing money laundering and combating the financing of terrorism – (fourth edition)’. The UKGC’s report is led by the recommendations of the Financial Action Task Force (FATF), a European Union inter-governmental body responsible for setting international standards on anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks and …

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AgiproNews Italian View – ADM reinstalls tough commands on AML & player registrations

Following public consultations with industry associations and legislative concessionaires, Italian regulator Agenzia delle Dogane e dei Monopoli (ADM) has confirmed that it will push through new anti-money-laundering (AML) standards for the Italian betting sector. The ADM details that it decision follows, a 26% increase in online gambling AML alerts recorded by the Italian Financial Authority. Furthermore, the Italian betting regulator …

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Marc Wood: Pay360 – Meeting 2018’s compliance demand…

As industry operators are being further pressured to improve their AML and compliance disciplines, all stakeholders face a tough balancing act in servicing betting consumers’, verification, customer services, payment and UX options.  Speaking at BOFCON2018, Marc Wood Head of Gaming at Pay360 details how industry leaders should approach 2018’s AML and Compliance conundrum _____________________ SBC: Hi Marc. In 2018, why …

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OPTIMA’s Jacob Lopez: Facilitating the immediacy and convenience of mobile betting

OPTIMA - mobile

Optima CEO Jacob Lopez said that the rise of mobile betting has played a major role in the development of its MGS platform, which is now utilised by partners worldwide. OptimaMGS™ is a turn-key high performance gaming platform which allows operators to serve its customers through multiple engagement channels under a single system, using both integrated OPTIMA products as well as …

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David Clifton: Licensing Expert – A potentially lethal parting shot

Sarah Harrison departs from her position as Chief Executive of the Gambling Commission at the end of February 2018. Before she goes, she is leaving a potentially lethal parting shot for a substantial number of operators within the gambling industry.. I am referring to the Commission’s letter sent to all of its licensed online casino operators on 4 January, in which …

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Kompli-Global provides 4th AMLD support for gaming operators

Kompli - Copyright: garagestock / 123RF Stock Photo

Kompli-Global has developed a tool to help companies deal with the more time-consuming customer due diligence challenges of the 4th Anti-Money Laundering Directive (4th AMLD). The 4th AMLD, which came into force on 26 June, includes a specific mention for the online gaming industry, where operators must perform more exhaustive checks on adverse player information. Backed up by a team …

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UKGC wants operators to get tough on customer ID checks

Issuing an industry update, the UK Gambling Commission (UKGC) has reminded operators that if they only request identity documents when a customer withdraws their funds, they could be putting their business at risk of failing to meet anti-money laundering (AML) and social responsibility standards thus breaching the conditions of their licence. The UKGC details that it is concerned following a …

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W2 accelerates expansion plans after securing new investment

W2 - Copyright: lcs813 / 123RF Stock Photo

W2 Global Data (W2) has secured a series A investment to fund the expansion of its sales, marketing and technical capability in the UK and international markets. The provider of Software as a Service (SaaS) products for the Know Your Customer (KYC), Anti Money Laundering (AML) and fraud prevention due diligence markets, has received the largest ever Growth Fund investment …

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New UK anti money laundering watchdog OPBAS to be set up by 2018

The UK Government is set to get tougher on money laundering and criminal financing activities by creating new watchdog the ‘Office for Professional Body Anti-Money Laundering Supervision’ (OPBAS).  The body will act alongside the UK Financial Conduct Authority (FCA), as the government seeks to introduce new, stricter money laundering regulations to meet global finance standards. The government will aim to set …

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David Clifton – Licensing Expert – The General Data Protection Regulation

With ever increasing compliance responsibilities pursuant to the Gambling Commission’s LCCP and more soon to arise on implementation of the 4th Money Laundering Directive, betting operators might be forgiven for thinking that there was a limit to the extent to which even more onerous regulatory burdens could be heaped upon them in the near future. However, even greater focus on …

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