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KNOW YOUR CUSTOMER YOUR C


Risk intelligence specialists offer an invaluable service to operators right across the board. Joel Lange, MD Acuris’ Risk & Compliance Division, talked to Casino Inter national about how the company works to mitigate risk.


Ac Risk Intelligence


business. Find out how and wh y fr om the experts, a s Acuris Compliance MD Joel Lange explains the business to Casino International.


A


Casino International: What does Acuris Risk Intelligence do? Joel Lange:


When we talk about compliance,


it’s a bit of a misnomer a s w e handle risk and compliance. We identify risk for our We ident


customers, and in the gaming community in particular we identify hazards a ssociated with players in land-based or online ca sinos; we help to identify risks in r elation to those cust omers.


ty in


The compliance angle is specifically in relation to the anti-mone y-laundering (AML) regulations that our customers m ust adher e to, and the guidance the gambling commissions and regulator s in various countries stipulate that the se organisations need to follow. There are challenges a ssociated


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nti-money laundering (AML) measures, Know Y


Your Customer


(KYC), risk mitigation – the y’re not just buzzwor ds, they should be the cornerstone s of your gaming


elligence Risk Intelligence elligence


Enhanced Due Diligence Sample: Individual Executive Repo rt


Tell them exactly what they should be doing so they can follow that, and the y know their competitors are doing the exact same thing and there is no ambiguit


love the regulator to be more pr oscriptive. Tell them e


ambiguity ar er-comp ty around


regulations. Are we doing t oo much and not getting players in the door because w e are being ov r-compliant, or ar


-compliant, or are w e doing too


little and have to worry about the r egulat or coming to the door and fining us?


It’s not an exact science; we are not a sil ver bullet but we are part of the solution. W provide our customers with data, repor ts, technology which can help them t o comply but ultimately, they have to do the w ork and they are on the hook for it. The r egulator is never going to say ‘oh, you’re w orking with Acuris? OK!’ They will ask how the y are working with us, how they ar e using our data and what are you doing in t erms of following your process to ensure you ar e getting it right. That’s where we come in.


   


 


there is a legal baseline that countries work to but within that eac h country can


with both of these area s – risk and compliance – and t o an extent mitigating risk is about alle viating the pot ential loss of mone y; compliance is the other element of that, in that the regulator can issue fines if you don’t compl y.


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What we do helps to mitigate risks in r elation t o financial loss and fraud or working with the wr ong people – but importantly we help these or ganisations comply with whatever their gambling regulator asks of them, to a v oid fines or losing their gaming license.


Some of our customers do get fined, but that gener ally happens before they call us and become our customers.


CI: That sounds like quite a challenge… JL:


It’s a challenge, not just in gaming but in wider regulated spaces; being fined or being under regulat ory scrutiny is a part of being a regulated entity, and one of the challenge s that we hear from customers in gaming is that the y would


74 OCTOBER 2019   


You make a good point in that we hav e these banner regulations and then you have the interpr etation of them. What we see is, we work in v arious sector s and industrie s that come under AML regulations, but they are very different in terms of applicability With gaming we hav e tried very hard to listen and understand what t y what types of checks the y ar e doing on customers; a r etail bank doing checks on someone will be very different to a casino that has pressure t o comply with AML but also pressure relating to wher e the mone y comes from, to the r esponsible gaming element… You oft


you do is about clarity – not just giving your cus omer the tools but teaching them how to use t hem, and how to be compliant. JL:


y.. W


You often find the people wor king on AML are also working on responsible gaming; they ask us ‘ok, y ou’re


CI: It’s almost like an EU directiv e, where there is a legal baseline t hat countries work to but within that each country can


create its own regulations, as long as they don ’t contradict the overarching regulatory tone… Par tly what you do is about clarity – not just giving your cust omers the tools but teaching them how to use them, and ho to be compliant.


We can


Acuris Risk


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