AML Checks and the 4th Directive in the Gaming Industry

With the Fourth Anti Money Laundering (AML) Directive in place as of the 26 June 2015, the gaming community must now look to increase their due diligence for AML checks on bets and pay-outs of €2,000 and over.

Casinos and online platforms alike will be responsible for reporting suspicious transactions and maintaining sufficient records of their incoming and outgoing payments in order to adhere to the new directive.

For many, AML controls will already be in place; however the fear is that, with the lower threshold for AML checks now set at €2,000, the customer journey – especially online – could be compromised if more stringent and lengthy checks are required.

AML checks that don’t disrupt the players’ experience…

AML and Know Your Customer (KYC) checks do not need to be drawn-out or onerous for the customer or the gaming provider. In fact, by investing in the right checks, they could help to streamline the sign-up and pay-out process for players, as well as making it more secure. Fast and efficient checks also enable providers to offer the best possible service to player’s in the highly competitive and crowded gaming market.

Real time identity and payment checks done in the background, at the point of sign-up, make it really simple for players to get on with the business of online gaming. Whilst, swift checks against PEPs and Sanctions lists support providers to make confident decisions when complying to the new directive – as well as providing a robust audit trail.

Another method of ensuring due diligence without hindering the customer’s play experience is through Device Intelligence. By gaining an understanding of the device player’s use to access a site, providers can see what device a customer is using every time they log in to use those services. Inconsistencies in devices are flagged in real-time, highlighting potential fraudulent activity so further investigation can be made where needed to make the most of valuable resources.

Need more information on Experian’s Identity and Fraud Solutions? Visit our website for further details.