CONTENT
course content
Dates and times
15/09/2025 10:00 am - 12:00 am
18/09/2025 10:00 am - 12:00 am
23/09/2025 10:00 am - 12:00 am
25/09/2025 10:00 am - 12:00 am
29/09/2025 10:00 am - 12:00 am
Course content
Module 1: AML Legal Framework and Industry Risks
- Definition of money laundering and its relevance to betting.
- Overview of the Cyprus Betting Law and AML-related provisions.
- Role of the National Betting Authority and its integration with EU directives.
- How betting operations are exploited in layering, placement, and integration stages.
- Examples of sector-specific laundering schemes
Module 2: AML Compliance Requirements for Betting Operators
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD).
- Onboarding process and identity verification (KYC).
- Use of electronic tools for identity and source of funds verification.
- Record-keeping rules and duration under NBA regulations.
- Reporting obligations: Suspicious Activity Reports (SAR), thresholds, and deadlines.
- Monitoring and flagging unusual betting patterns and large transactions.
Module 3: Internal AML Policies and Structures
- Elements of a strong AML policy in the betting industry.
- Appointment and responsibilities of the AML
- Compliance Officer (AMLCO).
- Staff training obligations and training content requirements.
- Role of internal controls, segregation of duties, and escalation procedures.
- Annual review and update of AML procedures.
Module 4: Risk Assessment and Internal AML Audits
- Applying a risk-based approach: geography, betting behaviour, and payment methods.
- Customer risk categorisation and scoring methodology.
- Internal AML risk assessment methodology.
- Conducting internal audits: scope, frequency, and documentation.
- Responding to findings and implementing corrective actions.
- Maintaining an audit trail for NBA review.
Module 5: Enforcement, Penalties, and Case Studies
- NBA inspections and audit triggers.
- Penalties for non-
compliance under the Betting Law and AML directives. - Case studies of AML failures and resulting sanctions in Cyprus.
- Positive examples of effective AML systems.
- Lessons learned and strategies for continuous improvement
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