The Business Research Company estimates Global Gambling business to be in the region of £500 billion annually and growing at a rate of 6% annually. This sector is exposed to FC risk and the questions we get asked are – what constitutes sufficient customer (KYC) checks, what are the risk of ML & TF, how does a gambling firm balance its reliance on 3rd party due diligence or its association with MSB’s.
The online presence of gambling presents further risk and we as a firm assist and advice our clients on the best practical methods of managing FC related risk and complying with the law and regulations whilst laying the ground work and capabilities for our client’s long-term profitable success.
Examples of our work
- Designed and simplified a due diligence / KYC process and framework for a gambling client
- Performed a Financial Crime health check of a major gambling firm’s AML & ABC policy and procedural guidelines