ΠΕΡΙΓΡΑΦΗ

Betting and gaming companies, such as casinos, were historically known as being vehicles for money laundering of all kinds and funding of illicit activity. Recent years have seen a significant change in the sector, particularly from a regulatory perspective. There is a perception by many that the industry is lacking in regulatory pressure, which makes it a particularly attractive route for money laundering and terrorist financing. 

Betting and Gaming has changed in the last years, mostly shifting to online, with online slot machines, casino games and sports betting becoming increasingly popular.  This shift has meant that betting and gaming platforms can be accessed internationally, and payments and withdrawals can be processed at a much faster rate.  

The proliferation of online and mobile channels has posed challenges in maintaining compliance with the necessary regulations within the industry. Due to its vast scale, high transaction volume, and extensive participation, the sector carries significant risks.

While the Risk-Based Approach (RBA) is widely advocated in national, European (European AML Directives), and international (40 FATF Recommendations) regulations for combating money laundering (ML) and financing of terrorism (FT), an additional approach is required for detecting ML/FT. This complementary approach is known as the Typology-Based Approach (TBA), which involves the identification of indicators and methods used to commit ML/FT.

The course aims to provide guidance and support to Compliance and Anti-Money Laundering Compliance Officers (AMLCOs) working in the gaming and betting industry and equip them with the necessary knowledge to detect and combat money laundering and the financing of terrorism.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will be able to:

• Develop an understanding of the various typologies employed in the fight against money laundering within the betting and gaming industry, considering the chronological progression of criminal activities.
• Comprehend the typologies utilized in both non-monetary economies (financially included aspect) and monetary economies (financially excluded aspect) that are prevalent in the betting and gaming sector.
• Gain insight into the money laundering process flow and the utilization of diverse typologies by intermediaries in the gaming and betting industry.
• Acquire the ability to identify patterns of money laundering in regular (financial) transactions within the betting and gaming sector.
• Enhance comprehension of the money laundering process flow and the amalgamation of different typologies employed in the betting and gaming industry
• Differentiate between the “risk-based approach” and the “typologies-based approach.”
• Develop a comprehensive understanding of detecting, analysing, and combating money laundering and the financing of terrorism as an ongoing process

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The programme is ideal for 

• C-Level executives (Managing Directors and CEOs, COO)
• AML compliance officers
• Risk Officers
• Financial controllers
• Accountants
• Lawyers in:
  • Betting companies
  • Gaming and casino industry
  • Regulatory Authorities
  • Law Firms and Legal Consultants
  • Financial Services Providers
  • Software/Technology Providers
  • Consulting Firms
  • Sports Federations  

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline

Introduction

• Crime Time Line
• Financially included part and excluded part of the world
• Fight against (international) (organized) crime and terrorism
• How is the fight against ML/TF organized – different approaches

Organization of the Fight against Money Laundering

• What is Money Laundering – legal description
• Object of Money Laundering
• What is Money Laundering – criminological description
• Why do criminals launder money?
• Notion of “Money Laundering” in history
• What makes Money Laundering so interesting for criminals?
• Economic and social consequences of Money Laundering
• Reporting, investigating and prosecuting chain
• Sources of ML/FT – money flow – origin
• Sources of ML/FT – money flow – destination

Understanding Money Laundering versus Terrorist Financing

• Money Laundering – 3-phase model
• Money Laundering – two principal characteristics
• Financing of Terrorism – 3-phase model
• Financing of Terrorism – three principal characteristics

Money Laundering Stakeholders

• Introduction
• Financial Intelligence Unit – CFI-CTIF
• Reporting entities – obliged entities
• Controlling and supervising authorities – Regulators
• Financial Action Task Force
• Foreign FIUs
• European Council – MONEYVAL
• Police
• Justice department

Risk Based Approach versus Typology Based Approach

• Risk Based Approach
• Typology Based Approach
• Categories of ML-typologies

Typology Based Approach

• Categories of typologies
• Typologies according to the reporting entity
• Typologies according to the Money Laundering phase
• Typologies according to the breach of the AML code
• Typologies according to the AML strategy
• Typologies according to the predicate crimes
• Typologies according to the judgements
• Typologies according to the operating mode – techniques
• Financially excluded part of the world
• Trends and challenges
• Cyberlaundering

Gaming and Betting Industry

• Introduction
• Money Laundering in the Gaming and Betting Industry
• AML Typologies in Betting and Gaming Industry

Training Style

A detailed 12-hour 3-day session with case studies, practical exercises, and direct-action points that will help keep your organisation compliant and its employees and customers safe. 

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Most of the training will focus in assessing participants’ current strengths and weaknesses via formal assessment tools. Participants will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace. Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar occasions.  

CPD Recognition

This programme may be approved for up to 12 CPD units in Financial Regulation, AML and Fraud. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.