iGaming Business
REGULATORY COMPLIANCE
WHAT SHOULD YOU DO TO COMPLY
WITH REGULATIONS ACROSS
EUROPE?
Roger Parkes
5 March 2014
© Copyright
Gambling Integrity Services
iGaming Business
Minimise reputational risk
Recognise multi-jurisdictional
operation includes regulatory oversight
• Regulators talk to each other!
• Reputation is fragile
• A strong reputation breaks down
barriers
© Copyright
Gambling Integrity Services
iGaming Business
Minimise reputational risk
Know your business through internal resourcing and
review
• Be aware of regulatory differences
• Plan changes and understand the implications
• Commit to process
© Copyright
Gambling Integrity Services
iGaming Business
Minimise reputational risk
Be pro-active
• Make compliance part of the process
• Invest in knowledge and training
• Communicate
© Copyright
Gambling Integrity Services
iGaming Business
Ensure financial &
corporate
transparency
Improve regulatory relationships
• Develop a level of trust
• Provide solutions to regulators not just issues
• Develop contacts
© Copyright
Gambling Integrity Services
iGaming Business
Ensure financial &
corporate
transparency
Know your regulations
Legislation, regulations, technical standards, guidance,
reporting requirements, AML/CTF, advertising
© Copyright
Gambling Integrity Services
iGaming Business
Ensure financial & corporate
transparency
Invest in internal systems
• Develop compliant processes – spread the
ownership
• Manage compliance – don’t do it!
• Internal audit and evidence
© Copyright
Gambling Integrity Services
iGaming Business
Work out the difference
between online and offline
Are the issues/risks the same?
• By sector/theme?
• KYC, AML, Fraud, Responsible Gambling
& Player Protection
© Copyright
Gambling Integrity Services
iGaming Business
Work out the difference between online and
offline
Are the solutions the same?
• How do you manage those risks?
• What are the costs of managing the risks and are they
appropriate for the business?
© Copyright
Gambling Integrity Services
iGaming Business
Make sense of the 4th AML
Directive
What is it trying to achieve?
• Fundamental changes from the
3rd
• Who is covered?
• Implications
© Copyright
Gambling Integrity Services
iGaming Business
Make sense of the 4th AML
Directive
Risk / Threshold or both?
• How will it apply to gambling
• Guidance from the regulators
© Copyright
Gambling Integrity Services
iGaming Business
Adopt a holistic approach to
compliance
Meet your compliance team
•
•
What do they do?
Where do they sit?
© Copyright
Gambling Integrity Services
THOMSON REUTERS SCREENING SOLUTIONS
ROB DUNCAN, SCREENING SALES SPECIALIST,
5 MARCH 2014
Risk-Based Data: World-Check
World-Check data is focused on Risk-Based
Intelligence. Data inclusion based on preventing financial crime.
• Aircraft Hijacking/Aviation
Crimes
• Arson
• Arms Trafficking
• Bribery and Corruption
• Counterfeiting and Piracy of
Products
• Currency Counterfeiting
• Cybercrime/Hacking/Phishing
• Environmental Crimes
• Extortion
• Falsifying Information on Official
Documents
• Forgery
• Fraud/Embezzlement/Theft/Che
ating
• Tax Evasion/Tax Fraud
• Hostage Taking/Kidnapping
(Political or Terror Related)
• Human Trafficking
• Illicit Trafficking in Stolen and
Other Goods
• Insider Trading and Market
Manipulation
• Migrant Smuggling/Slave Labor
• Money Laundering
• Narcotics Trafficking (Production
and Distribution)
• Organized Crime
• Pharmaceutical Product
Trafficking/Illegal
• Distribution/Illegal
Production/Banned/Fake
Medicines
• Piracy (Sea)
• Price Fixing/Illegal Cartel
Formation/Antitrust
• Violations
• Racketeering
• Robbery (Only High Value)
• Securities Fraud
• Sexual Exploitation of Children
(for Financial Benefit)
• Smuggling (Including in Relation
to Customs and
• Excise Duties and Taxes)
• Terrorism/Terror Financing
• War Crimes
World-Check Database Statistics
240+ countries & territories
covered
World-Check Database Statistics
3% official lists
Average new risk
profiles per month:
50%
non-PEP
97% uncovered
by World-Check
50% PEP
20,000+
Average updated
profiles per month:
40,000+
PEP screening is not
enough to ensure
compliance.
50% of our intelligence
is made up of non-PEP
information,
highlighting the need
for a risk-based
approach that matures
beyond PEP screening
Less than 3% of our
terrorism coverage is
derived from official
lists.
World-Check clients benefit
from 60,000+ more records
that reveal human terror
networks.
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PEP SUB-CLASSIFICATION – rank peps according to
predefined categories
UPDATE CLASSIFICATION – distinguishes the type of change
last made, highlighting the significance
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Thomson Reuters Accelus
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TO DISCUSS
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• API
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THOMSON REUTERS SCREENING SOLUTIONS
ROB DUNCAN, SCREENING SALES SPECIALIST,
5 MARCH 2014
iGaming Business
© Copyright
Gambling Integrity Services