As both areas are relatively new concepts to consumers in the region, operators have a duty to make the processes that underpin them as transparent and accessible as possible. By proactively explaining the benefits of these protocols, protecting players from fraud and ensuring fair play, operators can foster a safer online gaming environment for everyone while also helping to mitigate some of the confusion surrounding these mandatory requirements.
Mykola: Yes, operators have a responsibility to educate customers on responsible gaming protocols and KYC verification, especially in regions like LatAm where these concepts are still developing. Educating customers not only fosters trust but also helps ensure compliance by encouraging informed participation. Given the unique challenges in the LatAm region, such as varying regulatory environments and limited awareness, clear communication about these processes is essential for both protecting users and maintaining market integrity.
What role do country’s governments have to play during the KYC process in Latin America and how must service providers work with them to streamline it? In Brazil, we’ve already seen that customer IDs need to be verified through the Central Bank and the COAF – do you expect more LatAm countries to have similar systems in place once they regulate?
Max: Governments in Latin America play an increasingly pivotal role in the KYC process, often serving as the key facilitators of data verification through national databases and a central banking system. As we’ve
already seen, this model has been successfully put into practice in Brazil, and I expect this will set a precedent that other countries in the region are likely to follow in future. Of course, it’s also important to balance regulation with creating a smooth and user-friendly experience for the customers, so governments themselves have a duty to work closely with operators to polish these processes and create a framework that’s beneficial to everyone.
Mykola: Every country must implement KYC regulations in their legislation. Tere are basic issues that have been tested for years and being able to tackle them is mandatory. In online gambling, these are age and identification verification through documents that have been checked to avoid forgery. If the government provides additional services such as information on lost or expired documents, this can be an additional help. Verifying through the Central Bank is a great way to double-check, but it can become an obstacle if the process is too complicated, so there must be a balance between thorough KYC and the affordability of the process to the user.
Are there any lessons the region can learn from other markets where robust KYC processes have already been in place for several years? Are there any big areas that LatAm regulators could improve on?
Max: I believe that one of the main lessons that Latin America could learn – for example – from the European markets is that the adoption of digital ID systems is a great way to streamline the KYC process and reduce fraud.
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FRAUD PREVENTION
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