A premier online gaming platform, Betway, is setting a new standard within the industry by embracing the comprehensive anti-money laundering (AML) protocols established by the European Gaming and Betting Association (EGBA). This action positions Betway as the initial operator outside of EGBA membership to enact these rigorous safeguards.
Crafted by a group of compliance specialists, the protocols represent the benchmark in AML procedures, tackling existing hurdles and proactively addressing potential threats. Betway’s adherence to these protocols underscores its commitment to fostering a secure and protected gaming platform.
The revised protocols, unveiled in March 2023 following a year of industry dialogue, center on combating money laundering and the financing of terrorism. They encompass critical domains such as risk evaluation, heightened customer due diligence, reporting of questionable transactions, and other measures vital for conformity with AML regulations.
“We take pride in embracing and upholding EGBA’s AML protocols,” stated Anthony Werkman, CEO of Betway. “We anticipate collaborating with EGBA and other involved parties to exchange optimal practices and bolster our collective endeavors in the fight against financial crime.”
Although not presently an EGBA member, Betway will showcase its dedication by furnishing yearly reports to the association and actively engaging in pertinent industry conversations. This cooperative approach emphasizes Betway’s proactive position in maintaining the highest benchmarks of AML compliance.
The Chief Officer of EGBA, Katherine Hartmann, commended Betway for implementing their financial crime prevention protocols. She remarked that it showcases their dedication to maintaining top-tier regulatory adherence in the battle against illicit finance. Hartmann urged other providers in the internet gaming sector to emulate Betway’s example and collaborate with the EGBA in fostering a collective push to tackle money laundering.
This action follows closely on Betway’s declaration last week regarding their alliance with Major League Pickleball in the United States.
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