Betway Adopts EGBA Guidelines to Fight Money Laundering in European Gaming

The European Gaming and Betting Association (EGBA) announced that global iGaming operator Betway has joined its pan-European anti-money laundering (AML) guidelines. This move highlights Betway’s desire to combat money laundering and protect the European gaming sector from financial fraud.

The EGBA is Europe’s leading trade association for iGaming and has developed robust guidelines to reinforce the sector’s efforts in the war on financial crime. Its guidelines ensure compliance with the newest AML regulations in Europe, providing practical and sector-specific recommendations to operators in key areas.

The guidelines are designed by experienced compliance professionals in accordance with the best practices at the moment while taking future developments into mind.

Betway is notably the first company outside of EGBA’s membership to sign up to the organization’s guidelines. As a part of its participation in the EGBA guidelines, Betway vows to provide annual reports to the association, outlining its progress in the implementation of the guidelines.

This reporting system ensures transparency and accountability among EGBA members. In addition, it provides a mechanism for tracking the progress of companies that are adopting the guidelines.

Furthermore, Betway will meet with other EGBA participants each year and will discuss progress in implementing the guidelines. Finally, the operator will discuss whether revisions will be needed.

EGBA Praised Betway’s AML Commitment

Dr Ekaterina Hartmann, EGBA’s director of legal and regulatory affairs, welcomed Betway as a participant in the war on financial crime. She praised the operator for its decision to join the AML guidelines and said that this represents its 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.

Dr Ekaterina Hartmann, director of legal and regulatory affairs, EGBA

Meanwhile, Betway’s chief executive officer, Anthony Werkman, said that his team is proud to take its commitment a step further and join and adhere to the EGBA AML guidelines. He promised that his team will collaborate with the rest of the EGBA members and other industry partners to fight financial fraud.

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.

Anthony Werkman, CEO, Betway

Speaking of the EGBA, on April 26, it hosted a webinar to represent its new guidelines. A full recording is available on YouTube.

A few days ago, the EGBA also reported reaching 45.5 million customers with responsible gambling messaging.