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Gaming commission whips up compliance with KYC verification

Sun, 5 Sep 2021 Source: www.ghanaweb.com

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The Gaming Commission of Ghana has stepped up efforts toward enforcing knowing your customer (KYC) verification in the Ghanaian gaming industry.

This has become necessary with the recent growth in gaming activities in the country and to fulfil the FATF recommendations.

At a recent stakeholder engagement held at the Movenpick Ambassador Hotel, the Gaming Commission and the Financial Intelligence Centre laid out a series of steps that will ensure operators in the fast-growing gaming industry comply with the mandatory KYC verification. These activities will help at safeguarding the interest of all stakeholders.

This move to enforce KYC verification amongst operators will boost the commission’s role in the fight against money laundering and terrorist financing.

The Gaming Commission highlighted the need for all regulators to enforce KYC verification as it helps fight money laundering and terrorist financing. It was mentioned at the engagement that the commission would soon be enforcing the mandatory KYC verification as a requirement for all operators.

Currently, some global sports betting brands like Betway and some casinos have mandatory KYC verification on their websites and in casinos in compliance with global standards.

KYC verification will mean gaming operators will be required to verify the identification of all punters who visit their outfits or websites.

Source: www.ghanaweb.com