Connect with us

Compliance Updates

EGBA Publishes Pan-European AML Guidelines

Published

on

Reading Time: 2 minutes

 

The European Gaming and Betting Association (EGBA) has published the first ever pan-European, self-regulatory guidelines to strengthen the anti-money laundering (AML) efforts of Europe’s online gambling operators and support the sector’s contribution to the fight against money laundering. The publication of the guidelines continues EGBA’s commitment to promote the highest level of industry responsibility.

The EGBA guidelines on fighting money laundering and terrorist financing contain best practice industry standards, which online gambling operators should apply across their entire EU and EEA operations. The guidelines apply a risk-based approach and include sector-specific guidance to support a high standard of compliance with EU, national and supranational AML rules. While the guidelines are intended to complement and strengthen existing AML rules, they have also been developed with consideration towards the EU’s upcoming AML package, which contains new rules on AML.

The guidelines include, amongst others, practical guidance on:

  • How to conduct customer and business risk assessments.
  • Customer Due Diligence and improving cooperation during the process.
  • Suspicious Transaction Reporting requirements.
  • The relationship between AML and safer gambling.
  • Record-keeping requirements.

To ensure the latest industry best practices are incorporated in the guidelines, EGBA invites interested stakeholders to submit feedback by 13 October 2022, following which EGBA will publish the finalised guidelines. To ensure the guidelines do what they intend, EGBA members will be required to submit yearly reports to EGBA summarising their progress in implementing the guidelines. The guidelines may be amended in the future to ensure they remain up to date with the latest industry best practices. Companies who are not members of EGBA are invited to join the initiative.

Dr Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA, said: “We’re pleased to present the first ever pan-European industry standards on anti-money laundering for Europe’s online gambling sector. Preventing online gambling from being used to hide the proceeds of crime is an important test for Europe’s gambling operators – but there’s currently very little sector-specific guidance to help operators in their compliance efforts. We hope these guidelines will fill this gap and lay strong foundations for the sector to achieve the highest possible standards in AML compliance. It’s important to gather expertise across the sector and we invite stakeholder feedback on the guidelines to ensure that, together, the sector can contribute positively and proactively to Europe’s fight against money laundering.”

Compliance Updates

Gaming Corps Announces Approval for Netherlands Launch

Published

on

Gaming Corps Announces Approval for Netherlands Launch
Reading Time: < 1 minute

 

Up-and-coming Swedish developer, Gaming Corps, has expanded its reach within regulated markets by meeting approval requirements to launch its diverse portfolio of Plinko, Mine, Crash, Table and Slot content within the Dutch market. Gaming Corps has already announced that its growth strategy will include a number of new markets over the next year and is thrilled to begin with certification for its proprietary content to Dutch players.

With a commitment to integrity and player protection, Gaming Corps’ will soon be live with several operators in this new market with titles that include: Penalty Champion, Tikiz N Juice, Stormy Witch, Coin Miner, Jet Lucky 2, Skyliner and Cat Ching.

Juha Kauppinen, CEO at Gaming Corps, said “New markets expand the reach of our popular titles and add a new audiences. We see these strategic entries as important to the future of the company while we strive to make the most of our existing titles and those in development. We’re pleased that our content has already received a warm reception amongst the new set of operators we’re now able to open communications with and look forward to announcing those deals soon.”

Gaming Corps is an established gaming company with a background in video games that is now experiencing growth in the iGaming sector. Having recently attracted some of the industry’s leading talent, its strategy is to grow within regulated markets.

Continue Reading

Compliance Updates

Alderney’s Gambling Control Commission Appoints Industry Veteran Andrew Gellatly to Executive Director Role

Published

on

Alderney's Gambling Control Commission Appoints Industry Veteran Andrew Gellatly to Executive Director Role
Reading Time: < 1 minute

 

Following a thorough executive search process, the Commissioners of the Alderney Gambling Control Commission (AGCC) have appointed Andrew  Gellatly to the position of executive director of the regulator.

Andrew brings to Alderney his expansive global network and more than 25 years of experience in the online gambling industry. He has an extensive professional background in journalism, consulting and research.

Lord Faulkner of Worcester, chair of the AGCC, said: “Andrew has established himself as a trusted voice in the global gambling industry. His career has been built on independence,

impartiality, and a deep knowledge of the sector.

“We look forward to Andrew representing the AGCC on the global stage, developing our strategy and ensuring our regulatory approach continues to meet the needs of licensees and operators.”

Andrew founded both iGaming Business and VIXIO GamblingCompliance, the leading knowledge portals in the industry, and is a former Financial Times reporter on sport and gambling. He has led research on regulatory policy for governments, regulators, advisors and operators worldwide.

Andrew Gellatly said: “As the global online gambling market becomes more diversified and complex, there could be no better time for me to join the Alderney Gambling Control

Commission.

“Newly opening markets from Canada to Latin America are creating unprecedented opportunities for global facing businesses, with new products and new delivery channels. I will be extending Alderney’s already established international profile as a collaborative, trusted and supportive regulator working with the highest quality brands and companies.”

Andrew will be only the third executive director in the history of the Commission and will replace outgoing executive director Jorn Starck, who first joined the AGCC in 2007, and has

led the regulator since 2015.

 

Continue Reading

Affiliate Industry

Better Collective wins compliance award for the fourth consecutive year

Published

on

Better Collective wins compliance award for the fourth consecutive year
Reading Time: < 1 minute

 

At the 2022 Vixio Global Regulatory Awards, Better Collective was awarded for its efforts within compliance.

The fifth Vixio Global Regulatory Awards took place last night in London. For the fourth consecutive year Better Collective won the award ‘Commitment to Compliance by an Affiliate Company’. This recognition was awarded to Better Collective for its industry-leading compliance initiatives and for its compliance best practice.

This award is a indeed a testament to Better Collective’s dedicated work in paving the way for a transparent and trustworthy industry.

Jesper Søgaard, CEO and Co-Founder of Better Collective:
Integrity is a core focus here at Better Collective. We have built our business on the principles of adhering to high compliance standards while continuously enhancing the experience for sports fans by educating them on safer gambling. Therefore, we are very proud that our persistent efforts to operate in accordance with the applicable regulation in each and every aspect of our business once again are honored.

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.