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Sumsub’s Transaction Monitoring System helps operators, B2B and B2C platforms, comply with responsible gambling regulations
Sumsub, an automated platform for full-cycle gaming compliance, announced today the release. This is the first automated solution from a leading provider of gaming compliance that allows companies to ensure responsible and safe gaming behavior.
The American Gaming Association has designated September as Responsible Gaming Education Month. Sumsub joins the global gaming community in its efforts to protect online gamers with its new solution. They are required to protect and promote responsible gaming. Otherwise, they could face heavy fines or lose their license. Responsible gaming is an established set of guidelines that are designed to protect players who may be vulnerable, comply with regulations, minimize legal risks and maintain the reputation of a platform. The guidelines require operators to take steps to prevent harmful gaming behaviors by setting deposit limits, providing self-exclusion and providing resources to players who develop gambling addictions.
This first automated solution, based on Sumsub’s Transaction Monitoring System and global compliance expertise offers a set rules for responsible gambling controls. These include flexible KYC workflows (Know Your Customer), betting patterns analysis, players’ behavior monitoring and alerts for suspicious activity, as well as checks on potential gaming addiction. These rules help gaming operators detect deposits that are disproportionate to a player’s income. They also check if the player has increased or decreased their gambling limit, as well as checking gaming session frequency, duration and playing time.
Sumsub offers pre-setup rules bundles to onboard users in certain countries, and checks their gaming activity in compliance with local regulatory requirements. This automation allows sports betting platforms not only to reduce manual costs and time, but also avoid the risks that come with human interaction. The solution is designed to help businesses in the gaming industry combat identity theft, payment fraud, account takeovers, money laundering and bonus abuse.
Tony Petrov is the Chief Legal Officer of Sumsub. He said, “This new Responsible Gaming Control solution will ensure that online gaming platforms can detect addictions, minimize fraud risks, and ensure compliance with industry regulations in a timely fashion.” When monitoring gaming transactions, there are many checks that can help identify possible gambling problems. Sumsub’s automated rules are flexible and allow for a safe gambling environment. They also promote responsible gaming.
