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W2 Identifies Key Statistics from Financial Risk Checks to Support Gambling Operators



W2 Identifies Key Statistics from Financial Risk Checks to Support Gambling Operators
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Regtech orchestration platform provider, W2, has identified key statistics within their financial risk check solution to help operators understand the affordability of their customers and support player protection initiatives.

W2, the provider of leading regulatory compliance services to the gambling industry, has identified keys statistics relating to High-Cost Short-Term loans within its financial risk affordability solution. With the release of the gambling industry white paper last week, gambling operators must now prepare to implement financial risk checks when customers hit certain net loss limits.

The solution combines data assets from multiple sources at the individual, demographic, and geographic levels on a ‘where available’ basis and has been built to provide as clear a picture as possible in a way that is not intrusive to the player. Operators can customise data consumption either through API integration at onboarding, or trigger based on various markers of harm (MOH).

One of the 50+ data indicators included in the solution analyses data on High-Cost Short-Term loans. This is key data for operators to have access to as consumers who are considering using loans to pay for critical costs such as bills and debt may not have the means to gamble.

When comparing a batch trial completed in 2023 vs. 2022, the results of High-Cost Short-Term or payday loans were staggering. W2 has identified the following statistics:

  • High Interest Short Term loan enquiries to pay for bills increased by 1700%.
  • High Interest Short Term loan enquiries to pay for debt increased by 1000%.
  • High Interest Short Term loan enquiries for short term cash increased by 1050%

Warren Russell, CEO & Founder at W2 commented “The results of this batch trial when compared to data from 2022 is clear evidence that the cost-of-living crisis is hurting. The sheer number of consumers needing loans to pay for day-to-day costs is certainly the type of data which can be helpful to operators when implementing their player protection initiatives.

We are pleased that the long-awaited gambling white paper has now been released to give operators guidance on how best to comply with updated regulation. It is also promising that financial risk checks are going to play a key part in a safer gambling industry. W2’s financial risk solution has been specifically developed with the needs of gambling operators in mind, and we are looking forward to being able to provide this to the industry.”


South Australia: Gambling Report Urges Primetime Ad Ban



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South Australia has banned gambling ads on television from 4 pm to 7:30 pm, now a parliamentary inquiry has concluded Victoria should do similar.

The Public Accounts and Estimates Committee (PAEC) is urging the state government to consider stricter rules on gambling ads during primetime broadcasts and in public places.

“More appropriate regulations and safeguards are needed to protect Victorians, especially our children and young people,” Committee Chair Sarah Connolly said.

The report also urges the government to consider the impact of reducing the total number of electronic gaming machines across the state and update education resources for school students about gambling and alcohol-related harms.

“Our culture has often been described as one that tends to normalise both drinking and gambling,” Ms Connolly said.

“The Committee heard evidence to suggest that this has become more entrenched than ever, with the rise in social media and digital technology.”

Over eight months PAEC reviewed three Auditor-General’s reports relating to the regulation of gambling and liquor, and reducing the harm caused by gambling.

“Our report’s 96 findings and 61 recommendations have been informed by 54 public submissions, three days of public hearings, a Geelong site visit and a youth roundtable,” Ms Connolly said.

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Compliance Updates

Videoslots Granted Key Cyber Security and Privacy Protection Certification



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Leading operator awarded ISO 27001 recognition

Online operator Videoslots has attained the ISO 27001 certificate, ensuring the highest level of data protection for its clients and partners in response to the evolving landscape of cybersecurity threats.

In its pursuit of the certification, Videoslots embarked on a comprehensive project including a rigorous assessment of its current security measures and the development of its Information Security Management System (ISMS).

With the importance of safeguarding sensitive information paramount for companies worldwide, Videoslots has now elevated its security protocols to ensure the utmost protection of its data.

The recognition of achieving this standard means that Videoslots and its associated brands have successfully met all the stringent international standards for its ISMS and demonstrates the company’s ability to identify, manage and mitigate information security risks whilst adhering to legal and regulatory requirements.

“By attaining the ISO 27001 certification, we are keeping our data at the highest level of security, reinforcing trust in our brand and bolstering our competitive advantage,” the Chief Technology Officer for Videoslots, David Alamango, said. “It also places us in an elite group of organisations that have made the security of sensitive information a top priority.

“Furthermore, ISO 27001 provides a solid foundation for us to innovate and expand our technological capabilities as we continue to push the boundaries of what is possible.”

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Compliance Updates

Vixio PaymentsCompliance Forms Executive Advisory Board



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Vixio PaymentsCompliance, a provider of regulatory intelligence to the global payments industry, has held the first meeting of its newly formed Executive Advisory Board. Vixio established the Board to gain expert insight from a cohort of customers across the tech and compliance ecosystem to inform its product development and address challenges shaping the payments industry.

Chaired by Roseanne Spagnuolo, Vixio’s Chief Product Officer, the Board is composed of 10 senior executives and advisors from different segments of the industry, providing diverse perspectives on the market intelligence needs of legal and compliance professionals, strategic and corporate development leaders, and regulatory or government affairs executives.

The founding board members include:

  • Jana Breitkopf, Managing Director, Mercedes pay USA
  • Georg von Brevern, SVP Compliance and Regulatory Global, SumUp
  • Amy Bobrow, Global Regulatory Compliance and Operations, Mastercard
  • Sylvie Calsacy, Global Head of Public and Regulatory Affairs, Worldline
  • Nikki Eagers, VP, International Payments Risk and Compliance, Elavon / US Bank
  • Ronnette Grant, Global Chief Compliance Officer, Google
  • Charles Grech, Interim Chief Executive Officer, Truevo
  • Ori Kissos, Director of Global Regulatory Compliance and MLRO, Tipalti
  • Johanna Vikström, Chief Risk and Compliance Officer, Trustly
  • Alison Wheatley, Global Head of Risk and Compliance, Thredd.

“Vixio has earned a reputation over 15 years for the strength of our content and value of our services. The formation of the Payments Executive Advisory Board will enable Vixio to receive unique input from industry experts to help us develop cutting-edge products and content, to support global compliance teams at a time of increasingly complex regulatory change,” Mike Woolfrey, CEO of Vixio, said.

“The PaymentsCompliance Executive Advisory Board will help facilitate a collaborative approach to designing regulatory solutions that directly meet industry needs in an increasingly global payments landscape. We look forward to sharing our collective knowledge and expertise to support the delivery of innovative regulatory tools and content which will help businesses remain at the forefront of their industry in a transparent and compliant manner and in turn better serve their customers,” said Nikki Eagers, VP, International Payments Risk and Compliance, Elavon / US Bank.

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