EMBRACE A RISK-BASED APPROACH TO AML / KYC

0

Anti-money-laundering (AML) compliance is no longer a simple matter of filing procedural reports. Today, regulators expect casinos to know as much about who is transacting at their casino as an investment bank knows about who their business partners are. AML compliance is a complicated system involving all parts of the casino and all sources of information – from monitoring transactions at the cage and gambling activities at the slots and tables to collecting player loyalty information and conducting rigorous online research for know your customer (KYC) purposes. While there are many solutions and new technologies available to assist casinos in meeting their compliance obligations, there is no single solution that will suit every casino, yet casinos often jump immediately to selecting an AML/KYC compliance solution. Each casino has to create a program tailored to its specific risks; and risk analysis is the often-overlooked aspect of AML compliance.

READ THE FULL ARTICLE BY LARRY FRETZ IN THE FALL 2019 EDITION OF GAMING & LEISURE MAGAZINE.

Share.

Leave A Reply