International Compliance Association and Bahamas Institute of Financial Services launches Certificate in Money Laundering Risk in Betting and Gaming

11 July 2017

The International Compliance Association (ICA), in conjunction with the Bahamas Institute of Financial Services (BIFS) and Bahamas Association of Compliance Officers (BACO), announces the launch of a new internationally recognised qualification. The ICA Certificate in Money Laundering Risk in Betting and Gaming has been created to fill a growing demand for niche subject knowledge in this ever-changing area of compliance. Recent years have seen a significant period of change in gaming industry regulation and changes in laws affecting gaming on the islands have led to a large and thriving market. The growth of online and mobile channels, as well as applications, has also added to the challenge of keeping the industry operating within the current legal framework. A significant risk exists within this sector, largely due to the size and volume of transactions and participants.

The ICA Certificate in Money Laundering Risk in Betting and Gaming will provide front line personnel, back office staff, senior managers and directors with the understanding and tools to meet anti money laundering and counter financing of terrorism challenges. All staff can benefit from the practical nature of the course with specialist knowledge and skills that can be applied immediately to their day-to-day roles.

ICA and BIFS have successfully worked together for many years with the objective of providing MLROs, compliance officers and senior management with diploma-level training and certification that equips practitioners with both the practical and theoretical skills that are required in the compliance sphere. This partnership arrangement represents a step forward in the regulation and capability of the industry.

President of ICA, Bill Howarth, had this to say about the launch of the new qualification: “ICA has for some years been working closely with the Bahamas Institute of Financial Services, and the Bahamas Association of Compliance Officers to successfully deliver diploma level training in compliance and AML on the islands. I’m delighted that we are now extending this arrangement with the launch of a new course that has been specifically developed for the Bahamas, and the thriving industry of gaming houses. It’s vital that we work together to keep money laundering and terrorist financing out of our businesses and we are pleased to play our part in helping to develop the skills and understanding to staff within numbers houses to meet the challenge.’

The course will be available to study through the ICA’s training partner, International Compliance Training from autumn 2017.

More information on the global ICA Certificate in Betting and Gaming course can be found here.

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