We were delighted to be shortlisted to present at the Cybercrime, Security and Regulatory Compliance Conference, at ICE, as one of the suppliers that can solve some of the operators’ challenges in this area. Two other suppliers were invited to present their solutions to a jury of three major operators: Betvictor, Ladbrokes and Paf.
The main focus of this conference was to discuss the implications of the 4th Money Laundering Directive (AMLD) and the key topics of interest seemed to be around identifying and preventing fraud, KYC & CDD, data protection and source of funds.
Just to add some context here, the new directive now includes all sub-sectors of online gaming (not only online casino anymore) and mandates that any single deposit or withdrawal of +2000 Euros needs to be subject to customer due diligence. In particular, it requires that operators ensure the verification has taken place but also obtain copies of the documentation and data used in the verification process.
Jumio had the opportunity to talk about Netverify and how this product is helping some of the biggest online gaming operators verify player’s IDs right at the moment of registration, thus complying with age verification and KYC regulations, while providing a seamless and fun customer experience. We prepared the example of Betfair who have now extended the use of Jumio’s solutions to comply with the new AMLD, but were pleasantly surprised when the Payments & Fraud Operations Manager from Betvictor also shared their great experience with Jumio.
Finally, with regards to the data protection issue, I would like to add that Jumio carries the security controls established to achieve PCI compliance over to PII data which is of comparable sensitivity and has extended the scope of such controls to cover and protect all systems used to transmit/process/store PII data. Doing so, provides Jumio with a coherent and independently tested set of security policies/processes/controls and enables Jumio’s customers to gain confidence that their data is handled in a secure manner throughout its lifetime.
Whilst no official winner was announced, the positive feedback Jumio received from the jury seemed, at least to us, to be quite decisive as one of the overall conclusions was that “compliance needs to meet customer experience”… and I couldn’t agree more!
I will finish by inviting you to download the referenced Compliance Guide by Jumio on how to comply with the new Money Laundering Directive