Betway throws support behind EGBA's AML guidelines

The European Gaming and Betting Association (EGBA) has welcomed a new prominent operator in the face of Betway. The gaming and betting brand is joining the association’s efforts to fight money laundering in Europe through the introduction of a dedicated and pan-European set of guidelines.

Betway has now officially signed to this initiative, further demonstrating its commitment to fighting money laundering. EGBA has developed the guidelines to help the sector bolster its efforts in tackling financial crime and making sure that its members and the industry, in general, are compliant with European Union legislation when it comes to anti-money laundering.

EGBA’s guidelines are based on a risk-based approach that is intended to assist interested parties – or in this case gambling companies and operators – to address anti-money laundering issues. The guidelines also strengthen shortcomings in the industry’s understanding of anti-money laundering as well as allowing operators to prepare for changes in AML regulation in general.

As part of the initiative, Betway, along with all other members of the association, will be obligated to apply the guidelines and leverage them for the betterment of the industry and raise standards for transparency and accountability. EGBA is confident that this proactive approach can help tackle significant deficits in the gambling industry and elevate standards preemptively.

Commenting on his company’s decision to join the initiative and implement EGBA’s ambitious guidelines and mechanisms, Betway CEO Anthony Werkman said that the operator was proud to be participating and adhering to the EGBA AML Guidelines. He confirmed that Betway is prepared to work alongside other companies to ensure that the brand commits to the highest collective AML standards and contributes to the fight against financial crime.

EGBA Director of Legal and Regulatory Affairs Dr. Ekaterina Hartmann was similarly pleased with the opportunity to see yet another distinguished brand back the association’s efforts in combating anti-money laundering guidelines.

"We’re determined to encourage the uptake of the guidelines among other operators who aren’t currently members of EGBA and invite interested operators to contact us," Hartmann added. He emphasized that the only way to truly raise the bar for the industry across the continent is to work together and elevate AML standards unapologetically.

The guidelines were originally introduced in March 2023, and they have been gathering momentum with the organization and its partners ever since.

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