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As part of Regology’s Compliance Leaders' Q&A Series, we asked Anastasios Vasios, Director of New Regulated Markets Compliance at SkillOnNet – an online casino platform for third-party games – about the regulatory landscape in the iGaming industry. He shared some thoughts on compliance challenges, and how compliance can become a competitive advantage.
“The regulatory landscape for the gaming industry is constantly evolving and becoming more complex. There is a growing focus on consumer protection and responsible gambling, with many jurisdictions introducing stricter regulations around advertising, age verification, and anti-money laundering measures. As the gaming industry continues to expand globally, we will likely see even more regulations being introduced to ensure games' safety and fairness and prevent fraud and other illicit activities.”
“The gaming industry's most significant compliance challenges this year will likely include keeping up with rapidly changing regulations across multiple jurisdictions, ensuring data protection and cybersecurity, and mitigating money laundering and fraud risks. With the rise of online gaming and mobile apps, there is also an increased focus on protecting vulnerable players and preventing underage gambling. Using AI to prepare compliance plan and deal with compliance risk is the biggest incoming bet.”
“Compliance can become a competitive advantage by demonstrating a commitment to ethical and responsible practices that build trust with customers and regulators. Companies that take a proactive approach to compliance can differentiate themselves in the market and build a strong reputation for integrity, which can help to attract and retain customers and increase shareholder value.
"My advice is to develop a deep understanding of the regulatory landscape and how it impacts the gaming industry. This involves staying up-to-date with new regulations and trends and building solid relationships with regulators, industry associations, and other stakeholders. It is also essential to develop a strategic mindset and to be able to communicate effectively with senior executives and board members.”
Regulatory complexity and constant change make compliance challenging, especially in newly regulated industry sectors. This is why, as part of Regology’s Compliance Leaders' Q&A Series, we ask compliance leaders to discuss the state of compliance in their respective industries and share their perspectives with the community. By working together and sharing insights, compliance leaders can help improve the overall compliance posture of their industry and share best practices to ensure ongoing compliance with applicable laws and regulations.
To learn about the iGaming regulatory compliance solutions that help get ahead with the latest legal and regulatory content across any jurisdiction, please visit our dedicated page or view our complementary brochure.
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