Betting, Gaming and Money Laundering Risks - International Compliance Training | ICT

Betting, Gaming and Money Laundering Risks


Recent years have seen a significant period of change in the gaming industry, particularly from a regulatory perspective. The growth of online and mobile channels has added to the challenge of keeping the industry operating within required regulations. Significant risks exist within this sector, largely due to its size, the volume of transactions and the number of people who participate.

The gambling industry is facing big, new challenges as the Gambling Commission tightens the regulatory screw in relation to money laundering (ML). 

Time is short. The commission advises that some new requirements will apply from 31 October 2016. Download the licence conditions and codes of practive here. For those operators that don’t already have AML on the agenda, they need to start planning how they will meet the requirements now – or risk the unwelcome prospect of the commission asking some very uncomfortable questions.

Do you need to be concerned about AML (from a GB perspective)? Check out our infographic to find out...

Whether you are a senior decision maker, responsible for compliance, or working at the front line of the business ICA qualifications will help you to  develop a better understanding of the particular money laundering risks in betting and gaming. This involves a multiple choice exam leading to a certified qualification - demonstrating to your regulator your commitment to training in this area.

ICA Specialist Certificate in Money Laundering Risks in Betting and Gaming

This course (delivered online) provides you with an opportunity to understand the key anti money laundering and counter terrorist financing risks and the risk-based approach in managing these risks.  

What will you learn?

In addition to the essential concepts of AML and CTF, you will also cover the following areas:

  • An overview of the international gambling market
  • The regulatory context for the industry
  • Money laundering risks in each of the gambling sectors
  • Risk based approach, culture and governance
  • Assessing and mitigating money laundering risks
  • Practical AML in operation including customer due diligence and transaction monitoring
  • High value customer and politically exposed person risk and mitigation

Request a copy of the full syllabus here (on the ICA website)

ICT can also arrange in–house training, and bespoke briefings on money laundering and AML issues that affect your business. 


Recent ICT Views on betting and gaming:

Anti money laundering and risk assessment in the gambling industry by: Tim Tyler (AML/Financial Crime Course Director) on Tue Dec 13, 2016

Gambling and AML by: Tim Tyler (AML/Financial Crime Course Director) on Tue Jun 28, 2016

Place your bets: The gaming industry and bookmakers - low risk for money laundering or not? by: Pekka Dare (Director ICT Academic Faculty) on Wed Mar 23, 2016

Casinos urged to learn money laundering lessons by: Mary Munford (Editorial Manager) on Wed Jan 27, 2016 

Do you need to be concerned about AML (from a GB perspective)? Have a look at our infographic below to find out...

Betting Gaming and Money Laundering Risks


You may also be interested in our suite of AML qualifications:

ICA Certificate in Anti Money Laundering

The ICA Certificate in Anti Money Laundering provides an excellent introduction to anti money laundering and is a good basis for further study in the subject. 

ICA Advanced Certificate in Anti Money Laundering

Less focused on the betting and gaming industry than the above specialist certificate, this intermediate course will help you manage the risk of money laundering and terrorist financing.

ICA International Diploma in Anti Money Laundering

This advanced level qualification will help you develop best practice initiatives and prepare you to face present and future challenges, reducing risk.

ICA Professional Postgraduate Diploma in Financial Crime Compliance (FCC)

The ICA Professional Postgraduate Diploma in Financial Crime Compliance is an expert level qualification for senior practitioners with a focus on AML, fraud and anti-bribery and corruption. 

ICA Specialist Certificate in Money Laundering Risk in Betting and Gaming

The ICA Specialist Certificate in Money Laundering Risk in Betting and Gaming provides you with an opportunity to understand these key anti money laundering and counter terrorist financing risks and the risk-based approach in managing these risks.

 

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