Online Gambling Compliance: Regulatory Adherence and Business Sustainability
The online gambling business in Georgia is one of the most strictly regulated sectors. Operators are obliged to comply not only with licensing conditions but also with constantly changing legislative requirements related to Know Your Customer (KYC), Anti-Money Laundering (AML), responsible gaming, and managing the list of dependent persons. Failure to meet these requirements leads to substantial financial fines, suspension, or revocation of the license. It is critical for companies to have a robust internal control system and compliance policy that is constantly updated in line with new regulations. Our service helps online casinos and betting operators maintain compliance with the law and avoid legal risks.
What Does This Service Cover?
Specialists on Legal.ge offer full compliance audit and consulting services:
- Internal Audit: Checking existing processes and identifying compliance gaps (Gap Analysis) in relation to current legislation.
- AML/CFT Policy: Developing and implementing internal instructions for preventing money laundering and terrorism financing according to National Bank and Financial Monitoring Service standards.
- KYC and Verification: Legally structuring customer identification and verification procedures (age control, document verification).
- List of Dependent Persons: Legal support and monitoring of automated systems for working with the list of prohibited and dependent persons.
- Personal Data: Developing a policy for processing and protecting player data (GDPR-like standards).
- Reporting: Preparing mandatory reports for the Revenue Service and the Financial Monitoring Service.
Common Situations When You Need a Lawyer
Compliance issues often arise during operations:
- Verification Fine: The Revenue Service fined you for allowing a minor or a person on the prohibited list to play.
- Suspicious Transaction: The system flagged a suspicious financial operation, and you need instructions on how to respond legally.
- Advertising Violation: A marketing campaign violated the rules banning gambling advertisements.
- Bank Account Freeze: The bank suspended your operations citing non-compliance with AML policies.
- Player Complaint: A user is suing you for incorrect deduction of funds or account blocking.
Georgian Legal Framework
The field is regulated by the Law "On Organization of Lotteries, Games of Chance and other Prize Games," Law "On Licenses and Permits," and Law "On Facilitating the Prevention of Money Laundering." Revenue Service orders on verification rules are also important.
Process: How Collaboration with a Specialist Works
The process includes:
- Diagnostics: Checking company policies and software.
- Documentation: Updating necessary procedural documents.
- Training: Training staff on AML and responsible gaming issues.
- Monitoring: Periodic checks (Mystery Shopper) to eliminate defects.
- Reporting: Submitting a risk report to management.
Why Choose Legal.ge?
Online gambling is a high-risk business where even a small mistake costs dearly. Legal.ge connects you with lawyers who have international and local experience in gambling regulations. We will help you stay protected and compliant. Find a specialist on Legal.ge.
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