Gaming and Gambling Industry

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It is crucial for the gaming / igaming and gambling industry to conduct sanctions and PEP (Politically Exposed Persons) checks as part of their Anti-Money Laundering (AML) compliance efforts. These checks help ensure that they are not providing services to individuals or entities that are under financial sanctions, trade restrictions or on other sanctions list. PEP checks are conducted to identify individuals who hold positions of power and influence, such as government officials and politicians, as they may pose a higher risk of money laundering or corruption. By conducting these checks, the gaming / igaming and gambling industry can demonstrate their commitment to AML regulations, prevent illegal activities, and maintain the trust and confidence of their clients, regulators and other stakeholders.

AML regulations for the gaming industry vary depending on the jurisdiction, but they typically entail:

Risk Assessment: Gaming / igaming and gambling companies should conduct a risk assessment to identify their areas of vulnerability to money laundering and other criminal activities.
AML Policies and Procedures: Based on the results of the risk assessment, companies should develop and implement AML policies and procedures to identify, monitor, and report suspicious activities.
Customer Due Diligence (CDD): Gaming / igaming and gambling companies should perform CDD on their customers, which includes verifying their identity, understanding their source of funds, and monitoring their transactions.
Ongoing Monitoring: Companies should monitor customer transactions to identify any unusual or suspicious patterns of behavior.
Training: Companies should provide training to their employees on AML regulations, including how to identify and report suspicious activities.
Reporting: Companies should have systems in place to report suspicious activities to the relevant authorities.
Independent Audit: Companies should conduct independent audits to ensure their AML policies and procedures are effective and up to date.

Challenge

Like other financial institutions, gaming / igaming and gambling companies can be used to launder money or finance terrorism, so it is important for gaming companies to implement effective AML controls. Casino customers require an ongoing screening against both sanctions and PEP databases, as part of their enhanced due diligence, without limiting the screenings to the customers’ first deposit¹.

Solution

The gaming / igaming and gambling industry is subject to AML compliance, and companies must implement effective AML controls, including customer due diligence, transaction monitoring, SAR filing, and record keeping, to prevent their services from being used for illegal activities. While, PEP status by itself does not incriminate the customer, it does potentially classify the person as high-risk which requires additional investigation². Gaming and gambling companies need to be vigilant and proactive in implementing measures to prevent money laundering and other criminal activities.

dilisense

Choose dilisense to support you with the PEP, sanction and criminal watchlist screening on a global scale. Besides the default set of sources, we have the ability to also add any publicly available list that you need for spotting and monitoring persons and companies of interest. In a fully automated manner, gaming and gambling businesses can obtain data to assemble a client's risk profile based on the results of their screening efforts against government websites, sanctioned individuals and organizations, as well as banned, blacklisted and most wanted individuals and entities. Join us today!

References

Our clients enjoy Swiss discretion by default.
However, some clients allow us to share their names in certain cases.
Feel free to contact us for references at sales@dilisense.com

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Gaming and Gambling Industry

Background

Challenge

Solution

dilisense

References

AML Screening API

Ongoing Monitoring

AML Database

Batch Screening

Free AML Search

AML Screening API Pricing

Ongoing Monitoring Pricing

AML Database Pricing

Batch Screening Pricing

Sanction Lists

PEP Sources

Adverse Media

Criminal Watchlists

Additional Sources

Asset Management Companies

Business & Risk Intelligence

Crypto Businesses

Financial Institutions

Gaming and Gambling Industry

Insurance Companies

Payment Service Provider

Real Estate Agencies