Leading global online betting and gaming brand Betway (a company of Super Group) has signed up to be part of the pan-European Anti-Money Laundering (AML) initiative from the European Gaming and Betting Association (EGBA). Now, this renowned operator underlines its commitment to combatting ML in Europe’s iGaming industry.
The Association has developed the guidelines to strengthen the sector’s efforts in fighting financial crime and ensuring compliance with the latest AML regulations in the EU. The guidelines, published in March 2023, provide practical and sector-specific recommendations for operators in areas such as, amongst others, customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record-keeping.
These recommendations employ a risk-based approach to assist operators in complying with the various AML rules in the EU, including the EU’s forthcoming AML Regulation. They were designed by a team of EGBA’s top compliance experts with consideration to both current best practices and future developments in the field.
All EGBA members must apply the guidelines automatically. As part of their participation, Betway will be required to provide yearly reports to EGBA summarizing its progress in implementing the guidelines. This reporting system ensures transparency and accountability among all participating companies, and provides a mechanism for tracking improvement in this goal. All participants will also meet annually to discuss advances in their actions and consider any revisions that may be needed.
Anthony Werkman, CEO of Betway, stated: “Betway is proud to announce its full commitment to joining and adhering to the EGBA AML Guidelines and will work closely with EGBA and other industry partners to exchange best practice and strengthen collective efforts against money laundering and financial crime.”
As for Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA, she declared: “We’re delighted to have Betway join our AML Guidelines. Its decision shows commitment to upholding the highest AML compliance standards. We’re determined to encourage the uptake of the guidelines among other operators who aren’t currently members of EGBA, and invite interested operators to contact us. Only by working together, across the sector, can we truly raise the bar in AML standards.”