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Daily Asia Gaming eBrief: Singapore lowers threshold for diligence on casino deposits

Good Morning. There’s no such thing as too much oversight. Or at least that’s the road that Singapore is taking, further lowering the threshold for due diligence on transactions in casinos, as it ups its AML/CFT measures to better align with the FATF. Meanwhile, in Macau, rampant GGR growth slowed in June, the weakest month so far this year. Looking to the Philippines, a top PAGCOR official describes the regulator’s intentions to launch a Gaming Academy, focused on the local and regional markets.

What you need to know


On the radar


AGB Intelligence

SINGAPORE

Lowering casino deposit CDD threshold in line with FATF

Singapore is working to further strengthen its anti-money laundering and counter financing of terrorism (AML/CFT) measures, lowering the threshold for due diligence checks on casino deposits to $2.9K. The measure is a part of a series of efforts to encourage more reporting on how money flows through Singapore’s casinos, as the nation aims to align with the Financial Action Task Force‘s standards. 


Corporate Spotlight

Know Your Enemy: An Interactive Guide to Online Gaming Fraud

Sumsub, Online Gaming Fraud, verification platform

Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.

How 1xBet dominates the Asian market: conditions and approach

1xBet, Asian Market

1xBet operates in several dozen countries in Asia, and the number of partners in this region is growing steadily, which indicates the effectiveness of the 1xPartners affiliate program. The brand offers favorable conditions and a modern set of tools for making money on the Internet.


Industry Updates


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AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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