Betway Champions Financial Integrity by Implementing EGBA’s Anti-Money Laundering Protocols

Betway, a prominent online gaming platform, has showcased its dedication to fighting financial misconduct by implementing the anti-money laundering protocols established by the European Gaming and Betting Association (EGBA). This action makes Betway the inaugural operator to adopt these rigorous standards without holding direct membership in the EGBA.

Crafted by a group of compliance specialists, the protocols represent the benchmark in AML procedures, considering both existing best practices and upcoming obstacles. Betway’s choice to conform to these protocols emphasizes its commitment to upholding a secure and reliable gaming environment.

These extensive protocols, unveiled in March 2023 following a year of industry dialogue, encompass a broad spectrum of crucial domains, including risk evaluation, client due diligence, suspicious activity reporting, and other vital facets of AML adherence.

“We take pride in fully embracing the EGBA’s AML protocols,” stated Anthony Werkman, Chief Executive Officer of Betway. “Cooperation is paramount in the battle against financial wrongdoings, and we anticipate collaborating closely with the EGBA and other stakeholders to exchange best practices and bolster our collective endeavors.”

Although not presently an EGBA member, Betway will exhibit its commitment by presenting yearly reports to the association and actively engaging in pertinent gatherings.

Ekaterina Hartmann, the chief of legal and compliance matters at the EGBA, conveyed her contentment with Betway’s implementation of their financial crime prevention protocols. She highlighted that Betway’s choice to align with the EGBA showcases their dedication to maintaining top-tier compliance benchmarks in tackling illicit finance. The organization urges other industry participants, including those not affiliated with the EGBA, to embrace these protocols and invites any curious parties to connect. Hartmann finished by stating that a united endeavor across the whole sector is vital for attaining a substantial enhancement in money laundering countermeasures.

On a separate note, Betway reinforced its standing in the American market by revealing a collaboration with the National Basketball Association (NBA) shortly before the commencement of the new season.