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AML Compliance and Responsible Gaming Principles in the Betting and Gaming Sector
Booking options
€290 - €530
Dates
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- Delivered Online• to
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Highlights
Live Online
12 CPD Units | 12 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
Betting and gaming companies, such as casinos or sports companies , were historically known as being vehicles for money laundering of all kinds and funding of illicit activity. Recent years have seen a significant change in the sector, particularly from a regulatory perspective. There is a perception by many that the industry is lacking in regulatory pressure, which makes it a particularly attractive route for money laundering and terrorist financing.
Betting and Gaming has changed in the last years, mostly shifting to online, with online slot machines, casino games and sports betting becoming increasingly popular. This shift has meant that betting and gaming platforms can be accessed internationally, and payments and withdrawals can be processed at a much faster rate.
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.
Companies that are regulated by the National Betting Authority of Cyprus and the Cyprus Gaming Commission need to practise safe gaming and comply with the Anti-Money Laundering legislation in place, and with the Legislative framework of gaming regulation, in general. The main purpose of these regulations is to minimize or eliminate money laundering and terrorist financing risks in this sector, as well as keep the gaming safe.
Training Objectives
By the end of the programme, participants will be able to:
Explain the EU and local legal framework regarding Betting and gaming
Identify the different types of financial crime
Understand AML procedures which are to be followed by the various authorities and stakeholders
Identify financial crime risks specific to the organisation
Identify Money laundering risks in each of the gaming sectors
Describe compliance best practices and insights for gaming
Expand your knowledge on gaming customer due diligence
Name emerging technologies and trends in customer onboarding and reporting
Understand risks associated with high value customer and politically exposed persons and how to mitigate those risk
Identify and escalate suspicious activity
Perform relevant actions based on the legislative framework of gaming regulation
Understand the principles of Responsible Gaming
Identify red flags of problem gambling
Training Outline
AML Compliance in the Betting and Gaming Sector
Understanding Anti-Money Laundering (AML)
Definition and Purpose
Legal and Regulatory Framework: The Betting Law of 2019, EU AML Directives
Regulatory environment in Cyprus
Risk Assessment in the Betting and Gaming Industry
Identifying Potential Risks
Risk-based approach
Risk mitigation
Customer Due Diligence (CDD) Procedures
Identification and Verification
CDD and EDD measures
Transaction Monitoring
Sanctions screening
Ongoing due diligence
Reporting Suspicious Activities
Recognizing Red Flags
Reporting Mechanisms and Protocols
Post-reporting actions
Role of Employees in AML Compliance
Training and Awareness
Responsibilities and Accountability
Responsible Gaming Principles
Definition and Significance of Responsible Gaming
Regulatory Requirements for Responsible Gaming
Licensing and Compliance
Responsible Gaming Codes of Conduct
Identifying Problem Gambling
Signs and Symptoms
Customer Interaction and Intervention Techniques
Self-Exclusion Programs
Understanding and Implementing
Communication Strategies
Age Verification and Underage Gambling Prevention
Procedures and Tools
Legal Implications
Integrating AML and Responsible Gaming
Synergies and Interconnections: creating a Unified Approach
Shared Policies and Procedures
Case Studies and Best Practices
Success Stories in AML and Responsible Gaming Integration
Lessons Learned from Industry Leaders
Technology and Tools for Compliance
AML Software Solutions: overview and selection criteria
Implementation and Integration
Responsible Gaming Technologies
Tools for Monitoring and Intervention
Data Analytics for Problem Gambling Identification
Training and Development Strategies
Employee Training Programs: AML Training Modules and Responsible Gaming Workshops
Continuous Learning and Updates - staying Informed on Regulatory changes, Industry trends and Best Practices
Compliance Monitoring and Auditing
Internal Controls and Auditing Procedures
Regular Audits for AML Compliance
Responsible Gaming Performance Metrics
Corrective Actions and Continuous Improvement: addressing non-Compliance issues
Case studies discussions
Q&A
Who Should Attend
The programme is ideal for
C-Level executives (Managing Directors and CEOs, COO)
BoD members.
AML compliance officers
Risk Officers
Front line persons working in the gaming sector
Financial controllers
Accountants
Lawyers in:
- Betting companies
- Gaming and casino industry
- Regulatory Authorities
- Law Firms and Legal Consultants
- Financial Services Providers
- Software/Technology Providers
- Consulting Firms
- Sports Federations
Training Style
The programme has a practical delivery style with presentations, case studies, practical exercises, and direct-action points that will help participants apply the knowledge learned to keep their organisation compliant and the employees and customers safe.
CPD Recognition
This programme may be approved for up to 12 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 12 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Facilitators
Chrysothemis Valanidou
Chrysothemi Valanidou is a qualified lawyer, business solutions and compliance consultant, with over 10 years of experience in the betting and gaming industry and business advisory services. She previously served as CEO of a licensed betting company. She has completed her legal studies in law and is a member of the Cyprus Bar Association since 2015, advising gaming operators and executive teams on licensing, AML, responsible gaming, regulatory compliance, and marketing compliance across Cyprus and the EU. Founder of Startwise Ltd, Chrysothemi helps companies achieve sustainable growth through business solutions, strategic development, and operational structuring, effectively bridging legal compliance and commercial performance. She also organises and delivers professional training programmes and speaking engagements, providing specialised courses and presentations on AML, Responsible Gaming, and Marketing Compliance for the iGaming industry