Anti-money laundering (AML) is an ongoing focus for the Canadian gaming industry and the Canadian Gaming Association (CGA). The regulations and procedures outlined by FINTRAC to combat money laundering are complex and dynamic, and a failure to follow them results in public and legal consequences. The goal of the CGA is to standardize education on effective AML controls and practices.
The CGA’s mandate, in part, is to “use best practices to help the industry advance”, and in 2016 the association conducted a Needs Assessment to determine if “there was an appetite for a more cohesive and centred approach to training for the Canadian gaming industry.”
The Needs Assessment concluded “that there is substantial support for a national approach to gaming training and education.” Specific to AML, a national approach offered by the CGA Academy reinforces the importance placed on compliance by Canada’s gaming industry, as well as the role it plays in partnership with FINTRAC and law enforcement in combatting money laundering.
Through partnership with the iGaming Academy (IGA), the CGA has launched a newly-created eLearning AML course specifically designed for gaming organizations. The Anti-money Laundering & Anti-terrorist Financing course addresses both land-based and online gaming practices and includes the recently released regulatory updates from FINTRAC that will take effect June 30th of this year.
The step-by-step training provides industry professionals of all levels with a straightforward system to navigate the complexities of Canadian regional compliance. Staff are guided through case studies, practical exercises and scenarios to help them recognize AML indicators and suspicious factors and learn the reporting and record keeping obligations.
Like all IGA courses, this Anti-money Laundering & Anti-terrorist Financing curriculum will be reviewed multiple times per year and updated on an ongoing basis. The CGA and IGA have engaged with regulators and crown corporations to be able to provide province-specific versions of the course to ensure that gaming companies in Canada are able to easily access high quality, regulator-approved training content year-round.
The iGaming Academy eLearning platform is fully mobile, ensuring staff can learn whenever and wherever they are. The platform is fully customisable for both provincial and individual operator needs.
If you are interested in this course offered by the CGA Academy, or would like to arrange a consultation with iGaming Academy, or learn more about our North American portfolio or other specialist training, contact us today.