Compliance Updates
EGBA Publishes New Pan-European Anti-Money Laundering Guidelines for Online Gambling
The European Gaming and Betting Association (EGBA) has published its first pan-European guidelines to support the online gambling sector’s contribution to Europe’s fight against money laundering. The guidelines – reviewed and revised by Europe’s top anti-money laundering (AML) compliance experts – reflect the latest technologies and laws and build upon EGBA’s commitment to promote the highest level of industry responsibility in AML.
The EGBA guidelines on fighting money laundering and terrorist financing contain practical, sector-specific guidance on how online gambling operators should conduct customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, record keeping, and other essential areas which require strong AML compliance. The guidelines – which operators should apply across their EU operations – apply a risk-based approach and aim to support the sector’s compliance with Europe’s various AML rules, including the EU’s upcoming AML Regulation. EGBA members are required to submit yearly reports to EGBA summarising their progress in implementing the guidelines, and other operators are also invited to join the initiative.
Publication of the guidelines follows a consultation period in the autumn of 2022, where EGBA invited feedback from industry experts and national regulatory authorities.
EGBA members are committed to a strong culture of AML compliance. In 2021, they were subject to 30 AML audits by Europe’s gambling and financial regulatory authorities and submitted nearly 13,000 suspicious activity reports to national law enforcement agencies to support Europe’s fight against money laundering. In addition, EGBA represents its members in various AML forums, including the European Commission and Financial Action Task Force (FATF).
“As the sophistication of financial crime continues to evolve, the publication of these AML guidelines demonstrates EGBA’s commitment to ensure that Europe’s online gambling sector actively contributes towards the fight against financial crime. There’s currently a lack of sector-specific guidance to help Europe’s online gambling operators in their AML compliance efforts and these guidelines provide a valuable tool to fill this gap and help operators achieve the highest possible standards,” Dr Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA, said.
Compliance Updates
GoldenRace is now certified in the Netherlands
GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.
GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.
The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.
Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.
Asia
PAGCor Welcomes Lawyer Wilma Eisma as New President and Chief Operating Officer
The Philippine Amusement and Gaming Corporation (PAGCor) today welcomed its new President and Chief Operating Officer, lawyer Wilma Eisma, who took her oath of office before Executive Secretary Lucas Bersamin in Malacanang this morning.
“We are happy to welcome Atty. Wilma Eisma as PAGCor’s new President and Chief Operating Officer,” PAGCor Chairman Alejandro Tengco said. “We know she will be a great asset and her vast experience in both the government and private sectors will surely be put to good use here.”
Tengco said he witnessed Eisma’s oath-taking in Malacanang this morning. She then immediately joined her first PAGCor board meeting in the afternoon as the agency’s first ever woman President and Chief Operating Officer.
A lawyer by profession, Eisma earned her law degree from the Ateneo de Manila University and was a member of the Board of Directors of the Development Bank of the Philippines before joining the state gaming firm.
Prior to that, she also served as the first woman Administrator and Chairman of the Subic Bay Metropolitan Authority (SBMA).
Her private sector stints include leadership roles in PMFTC Incorporated, the Philippine affiliate of Philip Morris International.
She also held key positions at the Department of Trade and Industry where she worked at the Office of the Secretary and in the Office of the Majority Leader in the House of Representatives, among others.
Eisma succeeded Atty Juanito Sanosa Jr who resigned as PAGCor President and Chief Operating Officer last January.
Compliance Updates
MGA: Update to the Incident Reporting Requirements
The Malta Gaming Authority would like to inform its licensees of updates made to the Incident Report mechanism available through the Licensee Portal The information hereunder outlines relevant guidance and procedures for the submission of an Incident Report through the updated reporting instrument entitled the ‘Technical – Information Security Incident’.
As mandated by Articles 37(2)(c) and (d) of the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), “Licensees shall notify the Authority forthwith, and in any case no later than three (3) working days after, the following:
(c) Any breach of the licensee’s information security that adversely affects the confidentiality of information relating to players;
(d) Any breach of the licensee’s information security that precludes players from accessing their accounts for a period exceeding twelve (12) hours.”
In this regard, Licensees are obliged to submit an Incident Report in order to notify the Authority of the circumstances relating to an information security breach that meet the above specified criteria. Additionally, Licensees are advised to remain mindful of any further obligations emanating from the General Data Protection Regulation (EU/2016/679) and any relevant legislation.
The Technical – Information Security Incident option will be accessible through the “New/Change” dropdown menu via the Portal. Upon selection, users will be directed to the applicable sections of the ‘Technical – Information Security Incident’ where all compulsory fields and any relevant documentation must be submitted to the Authority.
Upon submission, the Incident Report shall undergo review by the Authority. Any missing information that may be identified by the Authority, shall be requested accordingly from the Licensee. It is imperative that any pending clarifications are addressed in a timely manner.
If no further clarifications are deemed necessary by the Authority, the Incident Report will be closed off accordingly, and any relevant documentation will be securely filed for record-keeping purposes.
Any Incident Reports left in ‘Draft’ form (i.e. opened but not effectively submitted) for a period of ninety (90) days shall be automatically discarded.
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