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Jerome García February 13, 2023 2 min read
Senet Chooses Norths Collective as First Company to Undergo RG Assessment
Norths Collective is the first company to participate in comprehensive assessment within the Senet Assure program, a new compliance accreditation launched by Senet, the famous regulatory, gambling law and compliance advisory in Australia, a new report reveals
The new program seeks to combat gambling-related harm as well as ensure that gambling operators are not impacted by financial crimes such as money laundering. To achieve this, participants in the program undergo an extensive assessment that seeks to ensure their compliance with Senet Assure.
Lauded as the first-of-its-kind program, the new initiative comes at a time when lawmakers in New South Wales (NSW) are planning to overhaul the sector. Ultimately, the reform, which is currently at the stage of planning, seeks to protect consumers and enforce more effective restrictions against money laundering and other financial crimes.
In other words, the Senet Assure accreditation program comes at the perfect time as it seeks to set a gold standard for compliance. Norths Collective, which is a group that consists of a number of brands that currently operate different hospitality locations in NSW, marks the first candidate for Senet’s new program, a report released by IAG reveals.
Senet Assure Conducts an Extensive Assessment
Luke Simmons, Norths Collective’s CEO, explained that the company is currently in charge of the operation of eight hospitality locations around NSW. According to him, the new collaboration will enable the Group to boost its sustainable growth practices while at the same time ensuring the well-being and safety of its guests. Finally, Simmons said that it is exciting to be the first NSW candidate for the new Senet Assure program.
“This partnership is a great opportunity to strengthen the commitment we have to our employees and community in upholding strong ethical practices, choosing to prioritize the ongoing safety and wellbeing of all members and guests over short-term gains.“Luke Simmons, CEO at Norths Collective
Paul Newson, Senet’s principal and leader of the advisory practice, deemed “assessing pristine policies at a point in time” insufficient. He explained that the Senet Assure program represents a complex evaluation and assessment that seeks to ensure that operators offer practices that are effective.
“Simply put, operators that can’t demonstrate the highest level of vigilance towards combating financial crime risks and prioritizing responsible gambling outcomes won’t meet our accreditation standards.“Paul Newson, principal at Senet
Newson said that to determine whether an operator has effective policies the program tests them extensively. Ultimately, he said that if the operators cannot reach the highest standards when it comes to responsible gambling efforts and fighting against financial crimes, they won’t meet Senet Assure’s high accreditation standard.