Betway, an international online gaming platform providing both casino and sports wagering, has showcased its dedication to tackling money laundering and financial misconduct by implementing the European Gaming and Betting Association’s (EGBA) Anti-Money Laundering Guidelines. This positions Betway as the inaugural organization outside the EGBA membership to willingly embrace these rigorous benchmarks.
These directives, recently revised in March 2023 following a year-long consultation period, embody industry leading practices for deterring financial wrongdoings. They encompass critical aspects such as risk evaluation, client scrutiny, dubious activity reporting, and remaining ahead of shifting criminal strategies.
Anthony Werkman, Chief Executive Officer of Betway, highlighted the company’s commitment to upholding these principles, affirming that Betway will actively cooperate with the EGBA and other sector participants to exchange insights and bolster collective endeavors in combating money laundering.
Although not currently a formal EGBA member, Betway will engage fully in the initiative, including submitting yearly assessments and participating in dialogues on advancements and required modifications to the guidelines. This proactive stance underscores Betway’s pledge to maintaining a secure and ethical gaming environment.
Ekaterina Hartmann, the chief of legal and regulatory matters at the EGBA, conveyed her satisfaction with Betway’s adoption of their anti-money laundering protocols. She views it as a genuine pledge from Betway to reach the top tier in AML adherence. Hartmann further used the moment to urge other providers to embrace the EGBA standards, highlighting the significance of a cohesive industry approach in combating money laundering. This development follows closely on Betway’s latest declaration that they will be the primary sponsor of the US Pro Padel League for the forthcoming season. It appears Betway is taking action both in the realm of ethical gaming and in broadening their presence in fresh and engaging sectors.
