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Betway is the first brand to sign the pan-European anti-money-laundering guidelines of the EGBA, despite not being a member.
The European Gaming and Betting Association is proud to announce that Betway, a leading global gaming and betting brand online, has signed up for its pan-European guidelines against money laundering. Betway’s commitment to fighting money laundering in Europe’s online gambling industry is demonstrated by its signing up to this initiative.
EGBA, as the leading European trade association for the online gambling industry, developed the Guidelines in order to support the sector in its efforts to combat financial crime and ensure compliance with the most recent anti-money-laundering regulations in the EU. The guidelines will be published in March 2023 and provide operators with practical and sector-specific advice in areas like customer and business risk assessment, due diligence processes for customers, suspicious transaction reporting and record keeping.
These guidelines use a risk-based method to help operators comply with anti-money-laundering rules and regulations in the EU. This includes the EU’s upcoming AML Regulation. The guidelines were developed by a group of EGBA compliance experts, taking into account both best practices in the industry and future developments.
All EGBA Members must automatically apply the guidelines. Betway is required, as part of its participation in EGBA, to submit yearly reports summarizing their progress on implementing the guidelines. This reporting system provides transparency and accountability for all participating companies, and a way to track progress on implementing the guidelines. The participants will meet each year to review the progress made in implementing these guidelines, and any necessary revisions.
Betway CEO Anthony Werkman.
We’re thrilled that Betway has joined our anti-money laundering guidelines. The decision to join is a sign of its commitment to maintaining the highest AML standards. We are determined to encourage other operators that are not currently members of EGBA to adopt the guidelines and invite interested operators contact us. We can only raise AML standards by working with other operators in the industry. Ekaterina hartmann, Director of Legal and Regulatory Affair at EGBA.
