Ray Wilson, AMLGS – Industry deserves praise on its reaction to a new normal

Ray Wilson, AMLGS – Industry deserves praise on its reaction to a new normal

During the global lockdown, online gambling incumbents were served with a raft of instant compliance enforcements applied across the board. Ray Wilson Director of regulatory compliance specialist AML Global Solutions (AMLGS) states that the industry should be praised for its quick adjustment in complying with the stresses of a ‘new normal’.

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Impressive and encouraging, two words that we do not often hear when referring to gambling operators and their approach to compliance; but nonetheless, two words that AMLGS feel best fits when describing how the majority of operators have handled the huge challenge that was handed to them when COVID-19 impacted the UK.

Unfortunately, as typical within the industry, much of the hard work has been overshadowed by negative press and papers published by governing bodies that have minimal first-hand knowledge about gambling operations other than what they have read. Often this is unfair criticism from people without the appropriate level of knowledge and expertise… but let us focus on the positives!

Since the challenge was laid out for operators, they have risen to it. To control what should have been a huge increase in problem gambling to a level of a near non-existent difference in the ‘post-pandemic’ (of course we are not fully out of it YET!) period was great to see.

Many of the operators we work with have put in strenuous efforts to protect consumers and meet regulatory requirements. Our launch of the ‘Responsible Gambling Risk Assessment (RGRA)’ happened to come just in time, allowing operators to quickly assess their customer base and dynamically apply appropriate measures. With several of our partners subject to regulatory compliance assessments, the RGRA along with their Compliance Health-Checks allowed them to evidence their policies and procedures to the standard required.

For those of you that attended our webinar with the Malta Gaming Authority (MGA) and global customer onboarding, identification and investigation provider HooYu or listened to our interviews with global partners Arctic Intelligence, you would likely have heard of our Responsible Gambling Risk Assessment and our Compliance Health Check mentioned.

The RGRA is essentially a mandatory licensing requirement for all operators in emerging markets (which we anticipate will become a requirement across all of the major markets in the near future). You will be expected to provide an accurate assessment of the risk to your customers from problem gambling accompanied by the appropriate level of mitigation. This is exactly what our RGRA gives you and which a number of you have already undertaken.

The Health-Check is a compliance MOT, it is better to have this done before something goes wrong. Do not wait to be put on notice of an audit/assessment, conduct your annual Health-Check to allow you and your board the assurances that no skeletons will come out of the closet during an assessment. We conduct mock interviews using templates designed alongside regulators own auditors to get your business ready for the environment that you will likely experience. AMLGS reviews every aspect of your compliance procedures. Better us identify a problem than the regulator, something which has proven beneficial for every operator that has utilised this service.

We work with many of you reading this and other operators across Europe and again, we want to congratulate you on your efforts. In a time when you are faced with non-stop bombardment of legislative changes and negative media coverage, we believe it is our job as your partners to highlight the good side of the business as well.

So let’s remember to stay safe and well!

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Ray Wilson – Director  – AML Global Solutions (AMLGS)

Source: SBC News