AML Solutions: What You Need To Know

By Paul Smullen on September 12, 2017


Does your business make payments to customers or take payments? If so you may not be aware of your obligations when it comes to AML (Anti Money Laundering). From a legal and compliance perspective your business must have stringent Know Your Customer and Anti Money Laundering processes to avoid regulatory or criminal repercussions. 

Recent changes to EU and UK Anti Money Laundering directives have increased the pressure on certain sectors including the gambling industry. So what does that actually mean for you the operator?  

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Essentially it means that as a business operating in this arena it is your responsibility to track, monitor, detect and subsequently report suspicious or unusual activity. Failure to do so can result in serious sanctions. These sanctions can result in both financial and reputational costs to your business and your brand.

 Part of the know your customer regulation aims to grasp a wider understanding of player behaviours. This applies in relation to both the Anti Money Laundering process and additionally the responsibility placed on your business to ensure customers are gambling responsibly.

As an operator you will be required to have a comprehensive view of a player’s overall behaviour. This is particularly relevant to those who operate across multiple platforms which in some cases may be on and offline. Arguing the platforms are separate is no longer an option. While this might seem obvious to some business owners implementing it can be time consuming and costly. It is an area which requires specific expertise and technology.

In addition to these new regulations it looks like there are wider plans for authorities to create a centralised database. Information would be captured from all regulated businesses and compiled by the authority for broader analysis. This database would then be used to monitor and regulate more effectively. Having the data available in the correct format for this database will become a necessity. Getting in right now saves time and money later. Models with similar structures are already in operation in many European countries such as Belgium. Therefore it is likely this step is not too far away.

With the landscape of the gaming community becoming increasingly international the need for data accuracy and sharing will grow. As the business operator the biggest hurdle for you in being able to comply with and implement these processes is having the accurate and up to date data available without unduly causing any disruption to the end user experience. Essentially you have to walk a thin line between compliance and not deterring the customer due to what they see as over complicated information requirements particularly in the registration process. While this may appear to be a negative for some companies it can also be an opportunity. With the right tools and processes in place your company can stand out as a leader in your industry and your customers will be assured of a robust and secure experience.

Additionally collection and refining of all of this Data can be a valuable asset to your business. Knowing more about your customer and their behaviours can help you in many areas of your business such as marketing, business planning and budgeting as well as many others. Further changes and evolution of the processes and requirements in this area are expected due to the impact of Brexit and a yet unknown regulatory landscape. However regardless of the end result the need for data accuracy and robust analysis will undoubtedly remain. Trying to establish all of this in house can be very difficult and costly so what are the options?

 At Ddass we aim to bring tangible value to your business by monetising your data. Our process automates the identification of suspicious activities and creates a workflow for compliance review and subsequent action. We integrate with your existing systems and also offer full operational support to manage the process for you. This enables you to reduce your headcount and spot additional trends and areas in your business which can save you time and money.


Speak to us today about our AML solutions and find out how we can help unlock the value in your data.

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Topics: AML

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Written by Paul Smullen

Ddaas help business grow using their own data.

We help companies from all sectors improve their return on their marketing investment, by showing them where their money is best spent, how to better segment their audience and decide who they should target with their promotional efforts.


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