Cross-border cooperation seen as key in gambling regulation

    Published in: Latest IntelligenceAchieving cross-border cooperation is seen as the key to effective regulation of the gambling sphere, especially given the booming online market, regulators at a conference in the Philippines said.At the East meets West Regulators’ Summit last weekend, gaming regulators from seven countries met to discuss cooperation towards forming policy standards on money laundering, fraud, social responsibility and problem gambling.PAGCOR Chairman & CEO, Mr Cristino L. Naguiat said in a welcoming address that regional cooperation should work towards four main aims: consistency in probity checks, tailored anti-money laundering (AML) programs for the casino industry, mitigating casino crime, and the adoption of responsible gaming principles.Joerg Hofmann, President of the International Masters of Gaming Law and partner at the Melchers Law Firm in Germany, said that this kind of cooperation is increasingly necessary with the advent of interactive gaming and international companies operating remotely.He pointed out that regulators have...

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