Endorsement marks out supplier as only esports betting events provider to officially meet new integrity measures
SIS (Sports Information Services), the leading multi-channel supplier of 24/7 live betting services, has been awarded the Esports Integrity Commission’s (ESIC) Gold Standards, the highest possible accreditation from the industry association.
The award sees SIS become the first esports betting events supplier to meet ESIC’s stringent new criteria, created to set unmatched levels of integrity and safety in the esports betting industry, for its Competitive Gaming portfolio (Esoccer, Ebasketball and CS:GO).
The purpose of the ESIC Gold Standard is to build on its existing principles by setting out a list of standards for tournament organisers, ensuring that events are run to the highest level of integrity and safety for the benefit of all stakeholders.
With stringent integrity measures in place, SIS Competitive Gaming follows best practice outlined by ESIC in addition to strict operational measures in place to ensure that each event is fair.
Each SIS Competitive Gaming head-to-head match, all of which take place from within SIS’ UK-based self-contained studios, is streamed live with experienced casters providing live in-game commentary. The streams take place through a secure platform that is exclusive to licensed operator sites where the age of the audience has been verified and is not available on open streaming services, meaning there is less danger of toxic messaging of the sort that is often carried on unlicensed sites.
All events are overseen by a dedicated ESIC-trained integrity referee and have a real-time link to SIS’ expert trading team, which closely monitors betting activity. Rigorous gamer competitiveness and predictability tracking measures are in place, through supremacy and volatility reporting, with all events taking place in a jurisdiction with well-respected legal and employment rights.
The new ESIC Gold Standards have been created to elevate transparency and impartiality, and required SIS to meet a number of rigorous requirements across the board, including:
- No communication devices allowed anywhere in the gaming studios
- Minimum of three employed personnel (independent from gamers) watching every event
- Controlled fixed game settings to ensure fair and competitive play
- Employees are fully background checked for criminal records, with references taken
- Ensure all gamers are of sufficient skills and expertise to compete against other pro gamers.
- ESIC anti-corruption code to be signed by all staff and gamers
SIS continues to work with ESIC to evolve the Gold Standards to improve Integrity and the visibility of clear tangible rules and standards by which tournament organisers should run events.
Adam Conway, Head of Esports & Competitive Gaming at SIS, said: “We are extremely proud to have received this new accreditation, which shines a light on the very high integrity and safety standards we have always put at the core of our Competitive Gaming offering.
“Our operator partners and their customers appreciate our high levels of integrity, such as visible referees invigilating every game, making us the only esports betting events supplier to do so.”
Ian Smith, Commissioner at Esports Integrity Commission, said: “ESIC’s new Gold Standards set heightened levels of integrity and safety in the Esports industry for the benefit of all stakeholders, and through ongoing assessment of SIS’ Competitive Gaming operations, which meet all the key integrity requirements, we are delighted to award SIS with ESIC’s Gold Standards, our highest possible accreditation”.
SA Gaming is now licensed by Gaming Curacao
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Cambodian Casinos Urged to Settle Non-Gambling Taxes
The General Department of Taxation (GDT) reminded the directors of all enterprises engaged in commercial gambling to declare and pay taxes on all business activities other than gambling.
In a February 2 notice, GDT director-general Kong Vibol said that they must fulfill their tax obligations for gambling in accordance with the Prakas on the rules and procedures for tax declarations on the proceeds of gambling.
For business activity other than gambling, they are obligated to declare and pay taxes, according to standard tax laws and regulations.
The GDT noted that some commercial gambling enterprises had fulfilled their obligation, while some had failed to do so.
“Those who have not declared their taxes yet should consider this a reminder that failing to meet your tax obligations is punishable by law,” said the notice.
The notice stated that with the February 1 approval of Minister of Economy and Finance Aun Pornmoniroth, the ministry had agreed to eliminate late penalties, including additional taxes and late interest, to enterprises that declared and paid their tax bills before the end of March.
The GDT strongly hoped that the directors of gambling enterprises will accept their responsibilities and file their tax declarations as soon as possible.
Prime Minister Hun Sen recently complimented the GDT for collecting 122.54% of the internal tax revenue that had been targeted by the Law on financial management of 2022.
“I am very pleased and laud the results of their internal tax collection. Truly, this is an amazing result. The GDT collected 22.54 per cent more revenue that we expected, an amount that exceeded $635 million,” he said.
SEON ACQUIRES COMPLYTRON TO LAUNCH UNIFIED FRAUD, AML AND FINCRIME PLATFORM
International fraud prevention company SEON has announced the acquisition of compliance and anti money laundering (AML) specialist firm, Complytron. The acquisition instantly adds AML capabilities to SEON’s fraud fighting toolkit and signals a new focus on holistic FinCrime prevention for the growing business.
As a result of the acquisition, SEON now offers a vital single source for FinCrime intelligence combined with decision functionality to help address evolving regulatory requirements. The deal, which officially completed in January 2023, also signifies SEON’s impressive expansion since its record-breaking $94M Series B investment in early 2022.
This industry changing move by SEON is in direct response to an urgent demand for robust AML solutions, as the world adjusts to an increasingly volatile political and humanitarian landscape. This shift is clearly underlined by a global surge in AML fines, which rose by 50% in the past year alone .
The innovative combination of fraud, AML and data enrichment solutions is set to help nations and businesses to break down obstructive information silos. SEON’s existing anti-fraud APIs, together with new AML functionality, creates a powerful united platform. This will monitor financial transactions in real-time to detect signs of fraud and money laundering, all while enabling onboarding checks to run silently in the background, minimizing false positives and improving the experience of genuine transactors.
SEON’s rule editing options, together with Complytron’s data, will also bring a significant competitive advantage in the money laundering prevention market. By leveraging powerful machine learning AI automation and real-time checks, the company is eliminating the need for separate searches across different databases, by combining intelligence from multiple sources. This includes all the international sanctions and crime lists, a global Politically Exposed Persons (PEP) database, and watch lists of supervisory authorities and national law enforcement from more than a hundred sources around the globe, such as Interpol and the FBI.
Speaking on the acquisition, and the launch of the AML capability, Tamas Kadar, co-founder and CEO of SEON commented: “Less than a year on from our $94M Series B, we’re executing on our mission to fight fraud and combat money laundering. Our goal at SEON has always been to deliver the best solutions to our customers. Rather than building an AML solution from the ground up, it made perfect sense for us to acquire Complytron’s extensive and innovative algorithms and worldwide databases – as well as the expertise of its talented team.
“By completing this acquisition, we have increased our total addressable market by approximately $6BN. This means we are instantly able to solve the challenges of risk and compliance management for even more businesses. It’s a milestone for our company and a strong signal for our customers and partners that we will continue enhancing our product to combat evolving threats. In today’s landscape, having this 360° view of individuals and business partners isn’t an option, it’s a regulatory must.”
Oliver Lebhardt, former co-founder and CEO of Complytron and current Product Manager of AML at SEON commented: “We’ve watched the SEON story unfold, keeping up with the business alongside its exciting growth trajectory. It’s now great to be a part of the mission, and to play a role in combining fraud prevention and AML tools into a single source. This acquisition represents a major step in the battle to reduce FinCrime and will help sectors such as fintech, online lending, gaming, neobanking, ecommerce and travel, to prevent criminal activity via their platforms.”
The new solution, which is already available for use, is quick to install and delivers immediate benefits, combining APIs for essential real-time insights, instantly sending out notifications should an individual’s risk status change. Offering a sophisticated know-your-customer (KYC) check, SEON’s platform can now discover hidden, risky relationships on behalf of clients by assessing not only customers, but the people they’re connected to. The easy to integrate solution has been built with legacy and digital native systems in mind and features an intuitive product dashboard for ease of use in any environment.
As part of the deal, SEON acquires full rights to Complytron’s innovative technologies, as well as the company’s staff, including its dedicated AML team. Notably, Complytron’s co-founder and CEO, Oliver Lebhardt, will join SEON along with co-founder and UX lead, Abris Gryllus and his expert team. SEON is now perfectly positioned for further growth in 2023, including its inception into the US and bolstering its 300 strong team growth.
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