Financial Crime in Gaming & Gambling Masterclass
The use of Gambling and Gaming products for money laundering purposes is widely recognised and has been occurring for decades. Receiving the proceeds of crime is the dominant issue; facilitated by accepting cash payments, transfers between customers, use of casino deposit accounts and pre-paid cards. Criminals often use identity fraud to enable multiple accounts across multiple operators. Money laundering risks in the gambling sector are not restricted to casinos, they extend to all service providers. With increasingly substantial amounts of money flowing through online casinos and other gambling services, it is important that the money laundering risks are recognised, and action taken to mitigate those risks. Controls need to reflect the nature of risk particular to the online space and be flexible enough to incorporate emerging threats.
Why take this course
Delegates will learn sector specific financial crime risks within gaming & gambling, a thorough understanding around key regulatory requirements and skills required to effectively identify and mitigate the financial crime risks. Course content carefully designed by leading subject matter experts focused on fighting financial crime within gaming & gambling sector will offer invaluable insights into developing an effective risk mitigating framework within gaming sector.
A highly interactive course designed specifically for the gaming and gambling sector. An overview of different type of leisure sports, key risks and challenges associated with each, regulatory requirements relevant to different types of activities and real life case studies, emerging trends and enforcement actions will be explored in this session. Several emerging concepts including in-game purchases, acceptance of crypto tokens, or currency of the gaming software are elaborated along with several financial crime risks associated with each type of transactional activity within leisure gaming sector.
- Compliance Officers
- AML Experts
- Money Laundering Reporting Officers
- Transactions Monitoring Specialists
- Screening & Alerts Handling Staff
Overview of key regulations Fundamentals of financial crime Conducting a holistic ris k assessment Understanding key risk pillars Critical decision making
Delegates of this masterclass shall be assessed through a multiple choice test at the end of the training session. Upon successful completion of this masterclass, delegates will be awarded Sigma Risk certification.
This masterclass may be delivered in person at client premises, at external location or virtually via Zoom or MS Teams.
Full Suite of Sigma Risk Masterclasses
• Understand applicable regulations
• Third party risk assessment
• Managing conflict of intrest
• Identify key AML risks
• Conduct AML risk assessment
• Build a robust methodology
- Correct level of due diligence
- Identification and verification
- Corroboration of source of wealth
- Learn about complexity & reliance
- Downstream banking and nesting
- Respondent risk assessment
- Preventing & recovering from a cyber attack
- Identify key threat actors
- Understand different types of cyber attacks
- Understand the risks in gaming
- Applicable regulatory requirements
- Proportionate risk assessment
• Understanding digital currencies
• Corroboration of SOF/SOW
• Financial crime risks
- Law enforcement collaboration
- Asset tracking and confiscation
- Suspicion activity reporting
- Recognize key sanctions regimes
- Establish screening & monitoring
- Escalations & reporting
- Attractiveness to Criminals
- Discover emerging typologies
- Identify red flags and warning signs