AUTOMATE YOUR AML PROGRAMME FOR CASINOS AND GAMING

Automated AML Compliance Made Simple

Know Your AML programme responsibilities for Casinos and Gaming

AML/CFT legislation impacts businesses across all sectors, whether large banks or local leasing companies. Regardless of size, everyone has a part to play in disrupting criminal activity and keeping our communities safe.

As the costs, risks, and regulations associated with achieving compliance continue to steadily increase, reporting entities in every sector require cost effective solutions that are the right fit for their particular risk profile and business environment.

Casinos and reporting entities in the gaming sector have been highlighted internationally and domestically as being vulnerable to money laundering and transaction fraud activities. They often attract a lot of attention from criminals and regulators alike.

While you want to focus on a fantastic customer experience, you must also meet stringent regulatory requirements. This can come with additional risk and cost that will only escalate as your business scales.

Casinos and gaming establishments are required to comply with the same AML/CFT regulations as financial institutions, but they're a different kind of institution.

The diversity of patrons, the frequency and volume of transactions—much of it cash-based—can make it hard to build, manage, and optimise an AML/CFT programme cost-effectively. This is where automation comes in.

Reporting entities in the casinos and gaming sector need:

Transaction monitoring capability that can be configured to match your risk profile and detect a wide variety of suspicious activity, from sophisticated patterns of customer behaviour to simple cash transactions – out-of-the-box rules aren't fit for purpose
Automated detection and reporting for foreign and cash transactions
To be able to screen large, dynamic customer lists to fulfil ongoing obligations with less effort
To help flag and monitor high-risk customers from PEP and Sanction lists
To be able to automate regulatory reporting so obligations are met on time and staff spend less energy on low value activities
A way to replace manual, time-consuming, risky processes with reliable automation that's cost-effective

Simple, easy-to-use software that empowers businesses to use their expertise and meet their compliance obligations with minimal investment in time and training
A high level of local service and expertise so your staff are fully supported
A highly secure, reliable SaaS solution that frees up your IT and compliance teams to focus on more valuable activities and spend less time managing software
To be able to update, tune, and optimise the system over time to respond to regulatory and behavioural change without high service costs
Consistent, centralised record keeping, audit trails, and reporting to help reduce the cost of audits and make it easy to prove compliance

“Manually submitting all reports to AUSTRAC was quite time consuming. Jade ThirdEye is able to extract threshold transactions from our systems and compile a threshold report for us. This report only requires checking of data extracted prior to sending which saves a lot of time.

The customer screening tool in Jade ThirdEye has again saved many hours and also ensured all customers are rescreened after a predetermined amount of time.”

Rochelle Smith Compliance Advisor - Mindil Beach Casino Resort, Australia

Features include

Integrated Data The ability to integrate data from any system and use a wide variety of data fields in a central, dedicated solution for AML/CFT compliance monitoring.

Flexible Rules

Easy to use, flexible, rules-based transaction monitoring that you can configure according to your risk profile – on your own or with our team.

Integrated Watchlists Integrated watchlists to help you flag and monitor high-risk customers and entities as well as meet ongoing customer screening requirements.

Automated Reporting Automated regulatory reporting that detects required transactions and streamlines the entire process of submitting reports, including automatically sending these to AUSTRAC or the FIU.

Demonstrable AML Compliance A fully audited system of record to help you report on, review, and prove AML compliance, as well as create a valuable separation of information for your compliance team.

Full In-region Support Full support from our team in your region to keep your system up and running, train your staff, optimise your rules, and help you get the most out of the product.

Reduced Risk A fully hosted, secure solution with local support means minimal IT and project overhead, lowering your total cost of compliance, and increasing the reliability of your AML programme so staff can focus on more valuable activities.

Centralised Management The ability to manage multiple locations, branches, and data sets through a single, centralised system.

LET’S ACHIEVE AML COMPLIANCE TOGETHER

A cost-effective, flexible AML solution for casinos and gaming companies

RESOURCES

RESOURCES Blog

What is transaction monitoring and what do I need to know about my monitoring risks? At a recent ACAMS virtual panel event, 3 specialists discussed this topic.

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The Game Has Changed. How has COVID-19 impacted the entertainment and gambling industry? This webinar focuses on the impact to risk profiles and AML programmes.

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Explore how the flexible Jade ThirdEye solution helps organisations to achieve AML compliance.