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Preventing money laundering is no gamble at bwin

The world-wide leading online gaming provider, bwin Interactive Entertainment AG, implements the 3rd EU Money Laundering Directive using the S/Monitor software from Cellent Finance Solutions AG. bwin is one of the first industry players to exercise the stipulated extended due diligence in screening customer data for suspected terrorism or embargo breaches.

With S/Monitor, bwin is reacting to the widening of the ‘know your customer’ principles laid down in the directive which now also apply to casinos and gaming companies. The software is a proven group-wide solution for combating terrorist financing and embargo breaches in the international big bank environment, featuring automated procedures for daily comparisons of customer data against embargo lists from the EU, US State Department and other authorities. These lists detail persons suspected of terrorist activities or subject to financial sanctions.

The project experience of Cellent Finance Solutions, as well as the flexibility and user-friendliness of the solution, convinced bwin. An additional criteria was multi-client capability. This enables the global group to centrally deploy the monitoring tools for all its subsidiaries. S/Monitor has been automatically analyzing all customer data at bwin for indications of embargo breaches or terrorist financing since the start of 2009.

"S/Monitor allows bwin to perform the required customer screening throughout the group. We can now further enhance security where money transactions are concerned," explains Kevin O'Neal, press spokesman at bwin. “This makes bwin a pioneer in combating money laundering and terrorist financing in the online gaming sector."

Thomas Wild, CEO of Cellent Finance Solutions AG, claims the company has successfully broken new ground: "We are opening up new business fields outside of the established banking target group. In bwin we have acquired a leading international player in its segment as customer. The successful implementation demonstrates that S/Monitor is also the ideal solution for industries which perform financial transactions in the widest sense and are facing new obligations in the wake of the latest money laundering directive,” he explains.