## Betway Elevates Its Fight Against Financial Crimes, Embracing Top-Tier Protocols
A leading force in online gaming and wagering, Betway, has proactively pledged to adhere to the stringent benchmarks set by the European Gaming and Betting Association (EGBA) in the battle against money laundering. This positions Betway as the inaugural operator outside of EGBA’s direct membership to implement these comprehensive measures.
These are not merely suggestions. Revised in March 2023 following a year of sector-wide dialogue, the EGBA’s anti-money laundering (AML) protocols represent the forefront of optimal practices, crafted to anticipate evolving patterns in illicit financial activities.
The protocols encompass a broad spectrum of vital domains, including how organizations evaluate the potential for money laundering, how they authenticate their clientele’s identities (KYC), methods for disclosing questionable actions, and other fundamental components of a robust AML structure.
“We are pleased to align with the EGBA and showcase our steadfast dedication to these protocols,” remarked Anthony Werkman, Chief Executive Officer of Betway. “Through collaboration and the exchange of exemplary practices, we can effect meaningful change in combating financial wrongdoings.”
While EGBA members are inherently obligated to these directives, Betway is exceeding expectations. The company has committed to maintaining accountability by furnishing yearly assessments to the EGBA and actively engaging in industry conversations on AML progress.
The EGBAs Director of Legal and Regulatory Affairs, Ekaterina Hartmann, expressed enthusiasm about Betway’s adoption of their anti-money laundering protocols. “Their commitment to these guidelines demonstrates a dedication to maintaining integrity and the highest industry benchmarks. We trust this will inspire other operators who haven’t yet joined the EGBA to embrace these principles – and we welcome any interested parties to contact us.”
She emphasized, “Collaborative action within the industry is crucial to effectively combatting money laundering.”
This development follows closely on the heels of Betway’s recent announcement of their collaboration with the NBA as an official betting associate for the forthcoming season.