Compliance Updates
Betway Joins EGBA’s Anti-Money Laundering Guidelines
Betway has become the first brand outside of EGBA’s membership to sign up to the organisation’s pan-European guidelines on anti-money laundering.
The European Gaming and Betting Association (EGBA) is pleased to announce that leading global online betting and gaming brand Betway has joined its pan-European anti-money laundering guidelines. By signing up to the initiative, Betway underlines its commitment to combatting money laundering in Europe’s online gambling sector.
As the leading trade association at European-level for the online gambling sector, EGBA developed the guidelines to strengthen the sector’s efforts in fighting financial crime and ensuring compliance with the latest anti-money laundering regulations in the EU. The guidelines, published in March 2023, provide practical and sector-specific recommendations for operators in areas such as, amongst others, customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record-keeping.
The guidelines employ a risk-based approach to assist operators in complying with the various anti-money laundering rules in the EU, including the EU’s forthcoming AML Regulation. They were designed by a team of EGBA’s top compliance experts with consideration to both current best practices and future developments in the field.
All EGBA members must apply the guidelines automatically. As part of their participation, Betway will be required to provide yearly reports to EGBA summarising its progress in implementing the guidelines. This reporting system ensures transparency and accountability among all participating companies and provides a mechanism for tracking progress in implementing the guidelines. All participants will also meet annually to discuss progress in implementing the guidelines and consider any revisions that may be needed.
“Betway is proud to announce its full commitment to joining and adhering to the EGBA AML Guidelines and will work closely with EGBA and other industry partners to exchange best practice and strengthen collective efforts against money laundering and financial crime.” – Anthony Werkman, CEO of Betway.
“We’re delighted to have Betway join our anti-money laundering guidelines. Its decision to join shows its commitment to upholding the highest AML compliance standards. We’re determined to encourage the uptake of the guidelines among other operators who aren’t currently members of EGBA and invite interested operators to contact us. Only by working together, across the sector, can we truly raise the bar in AML standards.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA.
Compliance Updates
MGA: Updates Relating to the “New Recognition Notice Certificate” and “Recognition Notice Certificate Annual Maintenance” Applications
The Malta Gaming Authority (MGA) has notified all prospective and current holders of a Recognition Notice Certificate (RN Certificate) that the guidance pages for the following applications have been updated:
New Recognition Notice Application; and,
Recognition Notice Annual Maintenance Applications.
The Applications Page has been updated to reflect the documentation that is required to be submitted via the Licensee Portal to apply for a new RN Certificate. Particular attention is to be paid to the details which are to be covered in the “Legal Opinion” section.
The Compliance Page now reflects the documentation that is gathered annually when the RN Certificate maintenance application is reviewed by the MGA. The RN Certificate holder has to submit a “Recognition Notice Annual Maintenance” application via the “Online Services” dropdown in the Licensee Portal on an annual basis, prior to the anniversary of the RN Certificate. The application should be submitted at least two months prior to the anniversary.
Should there be any changes made to the licence/s issued by the foreign jurisdiction, the addition of new foreign licence/s, or pertinent changes to company details, RN Certificate holders will now be required to submit a new application found within the “Online Services” dropdown: “Changes to Recognition Notice Certificate” application. This application must be submitted whenever there are updates to the details previously provided to the Authority. This includes adding new foreign licences, modifying existing foreign licences in the current RN Certificate, and updating company details, directors, or domains.
RN Certificate holders should ensure that the information held on record is accurate and representative of the RN Certificate holder’s operations at all times, and not just at Annual Maintenance stage.
The changes to the application requirements for both new RN Certificates, as well as the Annual Maintenance of the RN Certificate, will come into force as of 1 July 2024, although applications submitted in line with the revised guidelines before this date will also be accepted.
The post MGA: Updates Relating to the “New Recognition Notice Certificate” and “Recognition Notice Certificate Annual Maintenance” Applications appeared first on European Gaming Industry News.
Industry-leading poker experts commit to expanding in competitive and highly regulated Dutch market
EvenBet Gaming, a leading developer of online gaming software and solutions, has secured a Dutch certification to provide regulated gaming operators in the Netherlands with access to its suite of poker and card games.
The country’s regulator Kansspelautoriteit (KSA) awarded the certificate following a BMM Testlabs technical assessment, marking a crucial milestone in EvenBet’s strategic growth plans.
The Netherlands regulated online poker in 2021, and EvenBet’s entry cements its spot as one of the few providers offering this product vertical in the region.
Licensed Dutch operators can now integrate EvenBet’s most popular poker and card games, as well as benefit from a sophisticated CRM solution to manage poker tables and customers.
While many major providers and operators in the online poker sphere have exited the market following regulatory updates, EvenBet’s arrival highlights its dedication to bolstering its presence in highly regulated jurisdictions and strengthening its overall reputation as a trusted supplier.
Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Receiving a Dutch certification is a key moment in EvenBet’s history. It showcases our desire to work within the strictest jurisdictions to ensure players receive the highest-quality gaming experience and that sports betting operators, casinos and dedicated poker rooms have the tools to manage these effectively.
“It is the latest move in our extensive commercial strategy, and we are delighted to be entering a market that is serviced by only a handful of the most dedicated developers.”
The post EvenBet Gaming obtains certification to enter the Netherlands appeared first on European Gaming Industry News.
The Malta Gaming Authority (MGA) has published a new guidance manual related to the reporting of the Alternative Dispute Resolution (ADR) proceedings. The manual aims to provide licensees with a clear outline of the expected requirements and procedures relating to the submission of monthly ADR reports using the Licensee Portal on the website.
In line with Part V of the ADR Directive (Directive 5 of 2018), B2C licensees are required to report to the Authority each dispute that has been referred to the ADR entity, together with the conclusion of such dispute once a decision has been taken by the ADR entity. In this regard, a new report entitled “ADR Report” has been created and can be accessed from the “Company Timeline” on the Licensee Portal.
This reporting requirement comes into effect from this month. Consequently, the first submission needs to be made by not later than 20 June 2024, whereby licensees are required to report the disputes that were referred to their respective approved ADR provider in the previous month.
The post MGA Publishes New Guidance Manual Related to Reporting of ADR Proceedings appeared first on European Gaming Industry News.
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