Considerations for sports book operators in achieving compliance and risk mitigation across legal and regulatory concerns and conflicts include: • Dedicating appropriate resources to understanding player profiles and behaviors, including sources of funds, associations, and suspicious betting activity; • Leveraging technology to enhance risk and legal controls, especially for online operators; • Identifying and preventing real-money sports pool betting; • Benchmarking compliance programs with more mature industry peers, such as operators in the United Kingdom; • Prohibiting undocumented proxy betting; • Conducting enhanced due diligence on high value or volume accounts; • Limiting cross-border and third-party transactions (i.e., transfers, bank wires, etc.) for reasons not supported by legal gaming activity; • Maintain proactive relationships with appropriate regulatory and legal entities (e.g., FinCEN and SEC); and • Conducting regular, risk-focused audits of compliance controls.
April 23, 2019
More posts by Michael Carter
Recent posts from Alvarez & Marsal Insights
As a free user, you can follow Passle and like posts.
To repost this post to your own Passle blog, you will need to upgrade your account.
For plans and pricing, please contact our sales team at firstname.lastname@example.org