SiGMA Group has acquired a majority stake in iGaming Academy, the industry’s leading training provider, for an undisclosed figure.

This acquisition is set to greatly complement our portfolio, by embedding various forms of industry education throughout SiGMA’s global event schedule and online network.

In the words of Eman Pulis, SiGMA Group founder, “The acquisition comes at a perfect time for us. We’ve been working closely with iGaming Academy for many years now. I love what Jaime and the Conexus Group have built and look forward to supporting this growth with new initiatives and a wider offering of educational programs globally. The industry is crying out for more talent and regulatory insight, with new markets continuing to regulate. As a result, we want to be very active in this business.”

In the words of Robert Dowling from Conexus Group, “Conexus will remain actively involved in the iGaming Academy and our clients will continue to receive the outstanding training they expect from this brand,” said Rob Dowling, CEO of The Conexus Group. “We are confident that this strategic acquisition by SiGMA will allow the iGaming Academy to expand and improve its services offering to better serve the evolving training needs of the iGaming industry.”

Jaime Debono went on to elaborate, “This acquisition marks a major milestone for iGaming Academy – our mission has also been to educate the industry – both on key regulatory compliance topics as well as vocational training for existing and new markets. With the support of SiGMA Group, we will be able to accelerate this strategy through their global event calendar, enrich both training and event content and reach a much wider audience than ever before”

“The acquisition of IGA is another important milestone for SiGMA’s vision. IGA’s extensive training library rounds up our offer of services for the igaming industry by allowing us to be at the forefront of educational and regulatory tools for the market. We have strong confidence in Jaime and his team and are thrilled about the next chapters,” added Vinicius Moraes de Carvalho, Investment Partner at Ikigai Ventures.

We will continue to work in our current organisational structure with Jaime Debono remaining as company CEO and continuing to work alongside our team.

The management here at iGaming Academy will remain at the helm, with SiGMA’s corporate governance and marketing arm supporting the business to go from strength to strength.

Following the acquisition, we will be setting up an office in Cyprus to continue to build our online offering and content development. In addition, revenue streams will also be bolstered through new affiliate partner deals. More courses will also be made available in multiple languages, thus meeting the global demand for training.

Meet the iGaming Academy team in person at SiGMA Americas in Sao Paulo or get in touch with us online.

Keeping up with the fast-paced nature of the iGaming industry is a crucial component of your ongoing professional growth. Whether this includes keeping up with the latest trends or updated regulations, it’s essential to consider continuous learning as a fundamental element of your personal development within your professional role. At iGaming Academy, we take pride at our commitment to developing innovative e-learning content that provides our clients with multiple avenues to enhance their ongoing learning experiences.

And how do we go about this?

Well, once an idea is finalised, and the learning outcomes and target audience are agreed upon, we engage with an internal or external Subject Matter Expert who provides us with the content that serves as our base.

The content is then vetted in an extensive review process by our Head of Content & e-Learning Development, Gaby, and Head of Research & Compliance, Yuliya. Once signed off and approved for development, the content is passed on to our instructional designers to begin structuring the course through storyboarding.

An introductory guide to RG And AML requirements for the global online and land-based gaming sector.

Introduction

iGaming regulations vary between different countries and jurisdictions, but most have a focus on responsible gambling (RG) and anti-money laundering (AML) requirements.

At iGaming Academy, we offer multi-jurisdiction courses on anti-money laundering for online gaming, as well as,?responsible gambling for online operators.

To navigate the complexities of different local gambling authorities, our courses need to be tailored to the jurisdiction. However, the principles of responsible gambling and anti-money laundering legislation are similar, regardless of the iGaming market. So this guide is designed to provide you with an overview of these principles and the responsibilities of the iGaming operator.

In emerging markets and countries where iGaming, also known as online gambling, is just opening up, you can expect regulatory authorities to base their requirements around these key principles.

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Contents

Part 1: Responsible Gambling
The 6 Pillars of Responsible Gambling

Part 2: Anti-Money Laundering
Key AML Requirements Globally

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Part 1: Responsible Gambling 6 Pillars

Responsible gambling has become a key regulatory focus in recent years with all gambling jurisdictions introducing additional requirements for operators. As a result, we update our RG course content on a regular basis to reflect these changes.

Responsible gambling requirements are usually based around the following six pillars:

1. Protection of vulnerable gamblers
2. Prevention of underage gambling
3. Safety measures against criminal activities
4. Information privacy
5. Online payment protection
6. Ethical and responsible marketing

1. Protection Of Vulnerable Gamblers

Safeguarding vulnerable gamblers is an important focus of responsible gambling.

Key requirements may include:

• Communicate with at-risk players and offer gaming management tools
• Set financial limits (deposit, wager, spend, balance) for players
• Make time limits per gaming session available
• Provide reality checks through pop-up reminders
• Offer time-out and self-exclusion options
• Display information about support organisations for players adversely affected by gambling

2. Prevention of Underage Gambling

Strict adherence to the following measures is crucial to ensure that individuals below the legal gambling age are not allowed to gamble.

Key requirements include:

• Implement a clear registration process for all players
• Enforce mandatory age verification steps to confirm the legal gambling age (usually 18 or 21)
• Encourage parents to monitor their children’s online activities
• Recommend the use of parental control apps or programs to block access to gambling websites on their devices

3. Safety Measures Against Criminal Activities and Player Funds Protection

By proactively addressing security concerns, operators can protect both their platforms and players from potential threats and criminal activities.

Key requirements include:

• Implement robust security measures to safeguard against online criminal activities.
• Keep players funds segregated and remaining separately identifiable at all times
• Employ procedures and software programs designed to detect and block; Money laundering activities, Fraudulent activities, and Cybersecurity threats

See also Anti-Money Laundering Requirements below

4. Information Privacy Requirements

By establishing robust access control measures, operators can effectively protect players’ private data from unauthorised access, mitigating the risk of online criminal attacks.

Key requirements include:

• Implement stringent access control policies to safeguard players’ private details
• Protect sensitive information, including gamblers’ names, addresses, and phone numbers
• Ensure compliance with regulatory requirements related to data protection and information privacy

5. Online Payment Protection Requirements

By prioritising the security of online payments and choosing the right payment and risk processing solutions, operators can instil confidence in players and protect their financial information while facilitating seamless transactions.

Key requirements include:

• Provide a secure iGaming software platform that protects players’ personal data and financial details
• Thoroughly vet and select gambling payment and risk processing solutions
• Ensure these solutions allow players to; Safely deposit funds, Transfer money securely, and Withdraw funds from the gambling website

6. Ethical and Responsible Marketing Requirements

By following ethical and responsible marketing practices, operators demonstrate their commitment to fair and transparent advertising while protecting the wellbeing of their customers.

Key requirements include:

• Adhere to relevant regulatory advertising rules
• Ensure advertisements are factually accurate
• Avoid targeting self-excluded, underage or vulnerable gamblers
• Obtain customer permission before engaging in direct marketing using their personal details

Part 2: Anti-Money Laundering Requirements

Money Laundering is the process by which criminals attempt to conceal the identity, source or destination of illicit funds to make them appear legitimate.

The Financial Action Task Force (FATF) is an intergovernmental organisation dedicated to establishing global standards for combating money laundering and the financing of terrorism. It plays a pivotal role in shaping worldwide Anti-Money Laundering (AML) guidance and has 39 members globally. As a result, numerous laws and regulations worldwide incorporate common principles and recommendations advocated by FATF.

In regulated jurisdictions, AML requirements for iGaming operators and land-based casinos follow national legislation. For example, the EU Commission’s AML Directives, once implemented into national law, trigger any updates in AML guidance or directives issued by local gambling regulatory authorities or financial bodies.

The list below highlights the principles and requirements of AML for gambling operators. However, it is not exhaustive. Instead, it provides a snapshot of the key responsibilities gambling operators need to be aware of and put in place. Please refer to AML regulations in your jurisdiction to ensure compliance:

• Identifying and verifying customers: Gambling operators must identify and verify their players’ identities before allowing them to gamble. This includes obtaining information such as the customer’s name, address, and date of birth as a minimum.
• Conducting due diligence: Due diligence includes ongoing monitoring of player transactions and activities. This helps to identify any suspicious behaviour or transactions.
• Reporting suspicious transactions: Operators must report any suspicious transactions and activities to the relevant authorities. This includes transactions that are unusually large, complex, or have no apparent economic or lawful purpose.
• Appointing a designated AML officer: Most national regulators require gambling operators to appoint a designated AML officer to oversee compliance with AML regulations, as well as conducting ongoing employee training and risk assessments.
• Implementing and maintaining AML programs: Operators must implement and maintain AML programs to prevent money laundering and terrorist financing. These programs should include policies, procedures, and controls to identify and manage risks.

Failure to comply with AML regulations can result in penalties, including fines, licence revocation, and criminal prosecution. For this reason, it is not only essential to put in place programs to identify and prevent AML, but also ensure your staff are trained according to local AML regulations in the jurisdiction they operate in.

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As you can see both responsible gambling and anti-money laundering requirements impact on all areas of your operations and, when factoring in local regulations, can be complex.

How iGaming Academy Can Help

If you would like to learn more about the online and bespoke courses we offer at iGaming Academy please get in touch. You can also request demo access here to explore our RG and AML courses in more detail.

iGaming Academy, the award-winning provider of training for online gambling and land-based companies, is delighted to announce the development of its Cura?ao Academy, in partnership with a local training institute.

You will know by now that Cura?ao is in the midst of significant changes relating to its gambling regulations. These changes, aimed at modernising the gambling industry have been generating plenty of interest and last month, the island held it’s very first industry gaming event, SiGMA Cura?ao. ?

Cura?ao has long been a hub for online gambling operators, offering licenses to various international casino and sportsbook platforms. The island’s system has drawn businesses seeking a favourable regulatory environment. However, as the industry continues to evolve, the need to update the regulations became clear and the market has now entered a “transition” phase, with applications for licences being accepted from 15 November.

New Regulations

Under the leadership of Javier Silvania, Minister of Finance, the Government of Cura?ao has introduced new regulations to align with international best practices and strengthen the island’s reputation as a responsible gambling jurisdiction.

During his opening speech at SiGMA Cura?ao, the Minister confirmed “We now have the chance to boost employment, enhance our education system, rejuvenate business districts and upskill our citizens, ensuring that our community doesn’t just grow, but thrives”.

As a fundamental part of the new legislative landscape there over time will be a requirement of local substance by way of employees of significance. Given this range of new and unprecedented employment opportunities, it is no surprise that the iGaming Academy Masterclass held during the event was jam-packed! Delivered by our Head of Compliance, Yuliya Khrenova, we covered elements such as Online Casino Management, CRM, Marketing, and iGaming Compliance, including AML and Player Protection.? The masterclass was a huge success, drawing an audience of over 100, with around 70% being from Cura?ao itself.

Dr Javier Silvania, Minister of Finance of Cura?ao commented that “We are delighted to witness the remarkable success of the iGaming Academy Masterclass, which serves as a testament to the growing interest and enthusiasm of our local population in developing skills and pursuing future job opportunities in the dynamic world of iGaming. Moreover, I extend my warmest gratitude to the iGaming Academy for their proactive support and substantial investment in helping us navigate and implement new regulations, ensuring a prosperous and regulated future for this exciting sector.”

Following the interest in this initial masterclass, iGaming Academy, in partnership with a local training institute are developing a range of Cura?ao specific courses, covering a diverse topic list. Developed in line with the guidance specified in The National Ordinance for Games of Chance (LOK), the training will be aimed at both persons in “key positions” and local people who are looking at upskilling and pursuing a new and exciting career path!

This marks a significant step forward in Cura?ao’s effort to ensure that its gambling industry operates with the highest standards of integrity and responsibility. To keep up to date with Cura?ao’s regulatory and training developments you can meet with both iGaming Academy (stand 2097) and the Gaming Control Board (GCB) (stand 1068) at SiGMA Europe, from Tuesday 14 November.

For media inquiries and more information, please contact

Alison Askew, Director of Operations, iGaming Academy ([email protected])

About iGaming Academy

iGaming Academy provides efficient and effective training to over 60,000 learners across hundreds of gaming companies globally. Its training services help iGaming companies minimise compliance risks and empower staff with the skills needed to keep their business, staff, and customers safe. The company offers a choice of over 80 eLearning courses covering gaming compliance, job skills and workplace essentials, as well as bespoke solutions for custom or existing content. All training resources can be managed centrally in iGaming Academy’s exclusive eLearning platform, to track engagement and completions, and generate reports for compliance audits. iGaming Academy also delivers a range of specialist courses and masterclasses in our virtual classroom. To learn more visit www.www.shirleyretreathotel.com

About SiGMA Europe

The SiGMA Group is an events and media organisation focused on iGaming, emerging tech, digital health, and affiliate marketing. This year SiGMA Europe will be held in Malta, MMH Event?13-17 November 2023. Further details and tickets can be found here: SiGMA Europe Summit 2023

About The Conexus Group

iGaming Academy is part of The Conexus Group, which offers a range of specialist professional services for the iGaming industry. Supporting companies at every stage of their organisational lifecycle, The Conexus Group helps companies grow, transform, evolve, and thrive. For more information visit www.theconexusgroup.com

In the fast-paced world of the gambling industry, keeping up with regulatory changes is essential for both operators and players. One such pivotal amendment is the revised Formal Guidance under SR Code 3.4.3 by the Gambling Commission (GC) which replaces all earlier versions of guidance issued for remote gambling operators. Let’s take a closer look into its evolution, main requirements, and the overarching trend of social responsibility.

A Timeline of SR Code 3.4.3

• July 2019: The Commission released its remote customer interaction Guidance in July, which became effective in October 2019. In May 2020, further guidance was issued due to COVID-19, both ceased to be in force on 11 September 2022.
• January 2021: In response to feedback, the Commission released a short survey on customer interaction and affordability as aspects of ‘harm.’
• June 2022: Alongside the SR Code, the UKGC released comprehensive guidance, set to launch in September, but the timeframe for the consultation was extended.
• August 2023: After the January consultation, the Commission’s updated remote customer interaction guidance was scheduled for enforcement on 31 October 2023.

SR Code 3.4.3 Guidance: The Core

The revised SR Code 3.4.3 reflects the Commission’s commitment to enhancing player protection while balancing the operational needs of remote operators. To maintain transparency and compliance, operators are expected to demonstrate to the Commission how the Guidance has been implemented into their overall customer interaction systems and processes.

Central to this guidance is the transition from an observational stance to a proactive one. The Commission’s shift from “interaction” to “action” signifies an increased emphasis on operators to actively intervene when customers display potential harm signs. Consequently, operators have a heightened responsibility to identify, act upon, and evaluate signs of gambling-related harm, underlining the Commission’s unwavering focus on player well-being. Specifically:

• Requirement 1 & 2: Introduces foundational protocols for remote gambling operators to continuously analyse customer behaviours, detect potential harm, and fine-tune their approaches to risk assessment and intervention. Operators must implement effective customer interaction systems that embed the three elements of customer interaction to comply with the Guidance: namely, to identify, act and evaluate.
• Requirement 3: Licensees must prioritise protecting vulnerable customers. Operators need to effectively assess available information, recognise signs of vulnerability, and act swiftly.
• Requirement 4 & 5: From account creation, operators must monitor customer activity for potential harm. This includes assessing various indicators holistically, with both automated and manual real-time monitoring.
• Requirement 6: Operators must track customer activity for harm indicators, even when collaborating with third-party B2B providers, stressing continuous oversight.
• Requirement 7: Emphasises immediate response to harm markers, endorsing automation followed by manual review for fairness.
• Requirement 8: Directs Operators to adjust their actions based on harm severity.
• Requirement 9: Mandates licensees to adapt their responses based on the observed indicators of harm in customers, ranging from encouraging the use of management tools and limiting product visibility to terminating service in persistent cases. The objective is to ensure actions are proportionate to the level of potential harm, aiming to minimise risks and guide customers towards safer gambling behaviours.
• Requirement 10: Operators must cease marketing and promotions when strong indicators of harm are detected.
• Requirement 11: Customers can now understand and challenge automated procedures. Challenges would prompt a manual review of decisions.
• Requirement 12 & 13: Operators are expected to evaluate and enhance their customer interactions, pushing for system upgrades for detailed assessments.
• Requirement 14: Operators should incorporate recent problem gambling rates as published by the Commission into their protection strategies.

The Rising Tide of Social Responsibility:

The SR Code 3.4.3 is part of a bigger shift in the industry towards increased social responsibility. The GC is regularly updating and consulting to ensure they prioritise player welfare over making profits. At the same time, they recognise that their view on the potential harms of gambling is always evolving, so they’re committed to improving their guidance as they gain more insights. This change means companies are expected to do more to prevent gambling issues. In essence, SR Code 3.4.3 is more than just guidelines; it shows the GC and the industry’s commitment to a balance between business and player protection.

Customer Interaction Training:

Finally, in light of the evolving regulatory landscape,?we have updated our Customer Interaction training which has been tailored specifically to the newly issued guidance. This comprehensive training is instrumental in navigating the updated protocols and requirements, so to get a more detailed overview and essential insights into the course, please click?here?or reach out to us at [email protected]

iGaming Academy, the award-winning provider of training for online gambling and land-based companies, is delighted to announce the introduction of its Cura?ao iGaming Masterclass at the upcoming event “Ministry of Finance in association with SiGMA”.

The first-to-market masterclass has been developed in support of the Minister Javier Silvania’s announcement that Cura?ao will introduce stricter online gambling regulations, the transformative regulations will establish Curacao as a first-tier gambling jurisdiction.

The class will debut during the SiGMA Cura?ao conference, on 27 September at 14:00 and attendance is free for all Curacao residents.? You can register your attendance at the masterclass by clicking here.

Delivered by Yuliya Khrenova, iGaming Academy’s Head of Compliance, the masterclass will address key subjects such as Anti-Money Laundering (AML) and Responsible Gambling (RG), elements that are fundamental for compliance and play a vital role in the gaming industry.

Minister Javier Silvania has noted that “the creation of new employment opportunities for the local workforce along with building skills in order that the island reaches its full potential of being a centre of excellence within the global iGaming industry is a fundamental part of the incoming regulations.”

The Minister furthered that “iGaming Academy is a leader in its field, and we wholeheartedly welcome their recognition of the potential that exists for the people of Curacao, and we appreciate their commitment to that very potential by providing this unique learning opportunity at no cost to the local workforce.”

Staff training has been highlighted as a critical component of the market transformation in Cura?ao and will soon form part of the National Ordinance on Games of Chance (LOK). Player protection and the prevention of financial crime are traditionally at the forefront of continued professional development, and iGaming Academy’s masterclass has a key focus on these topics.?To comply with the new legislation, the regulations will mandate that licenced operators ensure that all staff demonstrate a level of knowledge and experience relevant to their roles.

On announcing the new masterclass, Managing Director of iGaming Academy, Jaime Debono, said:

“This collaboration demonstrates iGaming Academy’s commitment to elevating industry training and player protection in this market. There are many people in Cura?ao whose careers and prospects will be transformed by the LOK, and it will be a privilege to be a part of that”

iGaming Academy has a reputation for designing immersive and informative learning experiences, maximising learner engagement and ensuring attendees gain essential industry knowledge.

In addition to the Cura?ao iGaming Masterclass, iGaming Academy is also committed to providing a comprehensive suite of accredited courses and masterclasses, tailored to the unique needs of the Cura?ao market. This will support the education of the local workforce on key vocational and workplace topics, whilst also helping companies ensure compliance with the new regulatory framework.

About iGaming Academy

iGaming Academy provides efficient and effective training to over 60,000 learners across 100s of gaming companies globally. Its training services help iGaming companies minimise compliance risks and empower staff with the skills needed to keep their business, staff, and customers safe. The company offers a choice of over 80 eLearning courses covering gaming compliance, job skills and workplace essentials, as well as bespoke solutions for custom or existing content. All training resources can be managed centrally in iGaming Academy’s exclusive eLearning platform, to track engagement and completions, and generate reports for compliance audits. iGaming Academy also delivers a range of specialist courses and masterclasses in our virtual classroom. To learn more visit https://www.shirleyretreathotel.com/

About SiGMA Cura?ao

The SiGMA Group is an events and media organisation focused on iGaming, emerging tech, digital health, and affiliate marketing. SiGMA Cura?ao is at the Cura?ao Marriott Beach Resort from 25-28 September 2023. Further details and tickets can be found here: https://sigma.world/curacao/

About The Conexus Group

iGaming Academy is part of The Conexus Group, which offers a range of specialist professional services for the iGaming industry. Supporting companies at every stage of their organisational lifecycle, The Conexus Group helps companies grow, transform, evolve and thrive. For more information visit www.theconexusgroup.com