Our team of experts assist with all anti‐money laundering matters, training and support
Licensees in the gambling sector in the Isle of Man are regulated entities.
This means that they must adhere to obligations placed upon them by law to combat money laundering and terrorist financing. Collectively these requirements are known as anti‐money laundering and countering the financing of terrorism (AML/CFT).
The Isle of Man Gambling Supervision Commission (GSC) is the regulator that supervises the Isle of Man gambling sector’s compliance in relation to these matters. As a result, it is crucial for an Isle of Man licenced operator to have a strong AML/CFT framework in place. This is to meet both regulatory requirements, and to protect the business from the various associated risks.
> Guidance on the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Act 2018
Anti‐Money Laundering | What we do
Our team of professionals provide practical result-driven solutions to our clients. Whether you are looking for an alternative provider or setting up a new operation, we are here to help. We are the provider of choice for a range of gaming operators and software companies. This includes reviewing any existing AML/CFT processes a business has in place, drafting new procedures and helping management teams roll out the changes and monitoring the impact of those changes.
In addressing the various associated risks, MannBenham provides the following services:
- Preparing AML/CFT policies and procedures that create an AML/CFT structure that works efficiently for your business
- Routine monitoring of the company’s AML/CFT structure ensuring effectiveness and it that is up to date with regulatory requirements
- Review of your customer database, checking that all required data is present and risk ratings have been applied appropriately
- Customer due diligence (KYC) inspection
- Analysis of your business’s back-office system and its functionality in respect of established policies and procedures
- Review of Politically Exposed Persons (PEP), sanction and adverse media screening processes
- Staff training
- AML/CFT quarterly reporting
- A mock regulatory audit inspection, placing all controls under review in order to identify any weaknesses within those procedures which we will then work to address
Talk to us today
If you need to talk to someone with regards to anti‐money laundering or looking for legal counsel within the Gaming Sector, then take the first step. You can email firstname.lastname@example.org or call us on 01624 639350 to arrange your free consultation with us today.
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