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KOMPLI-GLOBAL Know Your Customer


Martin Pashley, money laundering expert and CCO of Kompli-Global, asks “is the gaming sector gambling 


T


he news has been full of reports recently of more UK gaming companies being punished for a lack of care in preventing financial crime or problem gambling. A total of £4.5 million in penalties was handed out by the United Kingdom Gaming Commission (UKGC) to InTouch Games, Betit, MT Secure Trade and Bestbet for failing to “put in place effective safeguards to prevent money laundering and keep consumers safe from gambling harm.”


But why are some gaming companies getting 


CDD – NOT JUST ID AND AGE VERIFICATION


 operators must meet the stringent requirements of  comply with these, operators must perform  


For many operators, KYC is seen as just an identity  regulatory compliance, operators are required to search for and confirm any potential links with bad actors or with high-risk regions, companies and  searches are critical to determine whether customers  


MORE THAN A GOOGLE SEARCH 


problem gambling, operators must regularly search   media on the surface web, these “customer due   corruption watchlists and other such databases, for any data that ties the individual with money laundering or links them with people accused of 


However, many operators are failing to search all of the necessary data, using outdated and inefficient    be a prime target for money launderers – they will   compliance, resulting in regulatory fines, with all their 


STRENGTHENING DEFENCES 


gaming operators that can help them perform the     particular, can support with the heavy lifting in searching global databases for information on 


 designed to replicate the very best due diligence analyst, harnessing such technology to search for more than 500 search terms in multiple languages across the surface and deep web, as well as other key global databases for real-time information on gamers 


 and searching 24 hours a day, seven days a week, such technology can flag any adverse media to human compliance managers the instant it appears, without  enhances, the abilities of human analysts, providing vital information to enable effective judgements 


STEPPING UP YOUR GAME Gaming operators that fail to embrace the latest


technology are an inviting target for money launderers   comply with legislation, they must explore ways to  sector has shown itself adept at harnessing digital  the same for compliance means they are dicing with 


Gaming operators that fail to embrace the latest


technology are an inviting target for money launderers


Martin


Pashley  Chief Commercial Officer  considered an authority on identity verification, KYC, Fraud prevention   many decades of experience and previously held senior positions within market  businesses such as GB Group and was previously the founder and CEO of   Kompli-Global, visit: 


CIO JULY 2019 61


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