In South Africa, newly amended legislation has brought about serious implications for accountable institutions including casinos, such as the requirement to have an effective Anti-money laundering program in place which must include procedures for detecting and reporting suspicious activities and transactions to the Financial Intelligence Centre (FIC).
It is also a requirement for the casino to implement effective customer identification and record-keeping procedures. A qualified individual who is responsible for the overall compliance function should be appointed and client-facing staff should receive adequate training on applicable laws, policies and procedures. Staff should also be properly trained on how to recognise transactions that appear to have no legitimate business purpose or are inconsistent with the players usual gaming activity.
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