Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling is poised to meet the challenges of the newly announced regulations on frictionless financial checks by the UK Gambling Commission and Betting and Gaming Council.

Under the new rules published by the Gambling Commission, operators have until August 30^th to implement frictionless checks on all customers making £500 net deposits in any rolling 30-day period. These frictionless checks form part of a new regime designed to protect players at risk of financial harm and replace the current ad hoc approach to affordability checks.

Department of Trust also welcomes the interim voluntary code published today by the Betting and Gaming Council (BGC), the standards body representing over 90% of UK-regulated market operators. This code focuses on how responsible operators should support customers spending above the lower threshold set out by the Gambling Commission.

Advertisement

The supplier’s DoTrust Complete solution offers an integrated suite of frictionless and enhanced financial risk checks with a high level of automation capability -the only such tool built solely for safer gambling – and is perfectly positioned to help businesses navigate the newly regulated waters.

Charles Cohen, CEO of Department of Trust, said: “These important announcements flag the end of gambling’s ‘sus law’ where players faced seemingly arbitrary requests for personal information, operators were placed under a significant burden, and no one won

“We now know that in 120 days, every operator will need to perform frictionless checks on all players with net deposits in a 30-day rolling period of £500. A few months later this will fall to a much lower level.

“If operators want to protect their business, keep their customers and reduce costs, smart automation is the only answer.

“Department of Trust has spent over two years building the leading plug-and-play solution specifically for the gambling industry. Complete already automates over 90% of the processes required in both the new LCCP and BGC code. Now we know what the requirement will be, we are today committing to the goal of 100%. We want every operator and player to have instant assessments and sensible decisions cost-effectively. No one needs to lose sleep over this.”.

Advertisement

Energame, a global business consultancy and investment firm in online entertainment, announces the appointment of Chief Executive Officer Nicholas Tymoshchuk who will provide strategic direction for the company at an exciting time of growth and expansion for Energame and the iGaming industry.

Nicholas’s background includes 15 years of managerial experience and 6 years as a CEO. His career in business spans multiple sectors: energy, tech, real estate and investment management. He has represented international majors, built asset managers from the ground up, scaled up businesses and overseen international M&A.

Nicholas was previously Energame’s Corporate Affairs Director, a role in which he built Energame’s relationships with stakeholders worldwide, helping to steer the company through the industry’s rapidly changing landscape and playing an integral role in strategy, and business development.

Advertisement

Nicholas Tymoshchuk, CEO of Energame said: “Energame has an amazing team and a great entrepreneurial culture. We work across four continents and in some of the most dynamic and fast growing markets in the world. iGaming is one of the largest yet undiscovered industries in the global economy, and we at Energame believe it has an enormous potential. I’m very lucky to be leading our team into our exciting future.”