Strengthening Safer Gambling: DoTrust and ComplianceOne Forge New Path

This collaboration is set to redefine the landscape of safer gambling by offering operators an all-encompassing solution that combines expert advice, innovative tools, and comprehensive data to facilitate the implementation of new financial risk checks on players.

Anticipating Regulatory Changes

With imminent UK regulations expected to mandate online gambling providers to conduct frictionless, enhanced financial risk checks on approximately 20% of accounts monthly, the industry stands at the threshold of a significant transformation. This development could translate into millions of detailed assessments, particularly focusing on individuals at a higher risk of gambling harm.

The synergy between ComplianceOne’s deep regulatory expertise and DoTrust’s advanced assessment tools and data promises to equip operators with not just the means to conduct thorough financial risk evaluations but also the knowledge and resources to develop and implement effective response policies and reporting mechanisms. This holistic approach is crucial, as operators will be evaluated on the efficacy of their checks and their subsequent actions.

Preparing for the Future

By engaging with DoTrust and ComplianceOne early in the planning stages, operators can ensure they are well-prepared for the regulatory changes expected to take effect later in 2024. Charles Cohen, CEO of Department of Trust, emphasizes the unique position of their partnership in offering more than just technological solutions. “Operators will need a blend of new knowledge, processes, and expert advice to successfully navigate these changes,” Cohen stated.

Antonio Zanghi, CEO of ComplianceOne, also highlighted the challenges operators face in integrating these new assessments into their broader risk management and safer gambling strategies. “With our decade-long experience in guiding operators through evolving regulatory landscapes, we are well-equipped to help them meet these challenges and maintain compliance with the best tools from DoTrust,” Zanghi remarked.

Our Comment on the Article

The alliance between Department of Trust and ComplianceOne marks a significant milestone in the pursuit of safer gambling practices within the iGaming industry. By addressing the upcoming regulatory changes with a comprehensive, integrated solution, they set a new standard for responsible gambling. This partnership not only underscores the importance of advanced technology and data in enhancing player safety but also highlights the critical role of expert guidance and tailored processes in adapting to regulatory evolutions. As the industry continues to navigate these changes, the collaboration between DoTrust and ComplianceOne will undoubtedly serve as a beacon for operators striving to achieve the highest standards of player protection and regulatory compliance.