Europe, is introducing the Fourth Anti-Money Laundering Directive (AMLD). The directive, which was approved in 2015 and must be in force by June 2017, is bringing more cumbersome due diligence processes by regulators and operators as it will cover the entire gambling sector.
Among other things, the fourth AMLD will introduce the requirement for gambling providers to adhere to more detailed record keeping structures when it comes to any subject as well as more detailed reporting requirements to be able to adhere to such a directive.
KYC Portal provides the perfect gaming framework to address all the Anti-money laundering (AML) requirements that are becoming one of the most pressing regulatory areas for gambling firms across all major jurisdictions. KYCP can seamlessly integrate with existing gaming platforms to automatically register on-boarding of subscribers. The solution can handle pre-defined AML risk scoring as well as other on-boarding aspects which will automate the entire due diligence process.
KYCP can also integrate with real time financial transaction analysis triggering automated alerts on pre-defined rules. Such rules can be applied across account numbers and also across patterns of credit cards used across all subjects.
Such a solution will reduce the manual processes on such subjects making the due diligence process more efficient and compliant through the automation of alerts on anomalies.