As Cura?ao steps into a new era of iGaming regulation with the National Ordinance for Games of Chance (LOK), the landscape is set for transformation. This change marks a pivotal moment for both existing operators and those new to the industry. To help navigate these waters, we’ve curated a new comprehensive suite of training courses offering essential skills and knowledge to thrive in this evolving regulatory environment.

Cura?ao has long been a beacon for the iGaming industry, attracting operators from around the world with its favourable licensing environment. Recent regulatory updates spearheaded by Minister of Finance, Javier Silvania, aim to align Cura?ao’s practices with international standards, enhancing its reputation as a responsible gambling jurisdiction.

Training for a New Era

Our initial launch of courses is focused on Job Skills and Workplace Essentials training specifically designed for Cura?ao, aimed at equipping the local workforce with the skills required to meet industry standards.

• Job Skills: Ideal for individuals starting their careers and businesses looking to enhance team expertise, our courses cover online casino management, sports betting, and game development. Each course is designed to impart practical skills that can be immediately applied to drive business success and personal career growth.
• Workplace Essentials: These courses help foster a secure, fair, and inclusive work environment. Learn about cybersecurity, ethical conduct, and workplace diversity to contribute positively to professional standards and support a safe workplace culture.

Following the government’s approval of the LOK, we will introduce our Gaming Compliance courses, tailored to meet the regulatory requirements unique to this jurisdiction.

• Gaming Compliance: Stay compliant with the latest regulations. Our courses will cover anti-bribery, anti-money laundering, and responsible gaming, providing the knowledge needed to uphold the highest ethical standards in the iGaming industry.

For more information on our courses and how they can benefit you, explore them here.

Looking Ahead

As we await the full implementation of the LOK, staying informed and prepared is paramount. We are committed to supporting Cura?ao’s iGaming sector with tailored training solutions that align with the latest regulatory requirements and industry best practices. To keep up with the latest insights and training opportunities in Cura?ao, sign up for our Curacao Insights here.

SiGMA Group has acquired a majority stake in iGaming Academy, the industry’s leading training provider, for an undisclosed figure.

This acquisition is set to greatly complement our portfolio, by embedding various forms of industry education throughout SiGMA’s global event schedule and online network.

In the words of Eman Pulis, SiGMA Group founder, “The acquisition comes at a perfect time for us. We’ve been working closely with iGaming Academy for many years now. I love what Jaime and the Conexus Group have built and look forward to supporting this growth with new initiatives and a wider offering of educational programs globally. The industry is crying out for more talent and regulatory insight, with new markets continuing to regulate. As a result, we want to be very active in this business.”

In the words of Robert Dowling from Conexus Group, “Conexus will remain actively involved in the iGaming Academy and our clients will continue to receive the outstanding training they expect from this brand,” said Rob Dowling, CEO of The Conexus Group. “We are confident that this strategic acquisition by SiGMA will allow the iGaming Academy to expand and improve its services offering to better serve the evolving training needs of the iGaming industry.”

Jaime Debono went on to elaborate, “This acquisition marks a major milestone for iGaming Academy – our mission has also been to educate the industry – both on key regulatory compliance topics as well as vocational training for existing and new markets. With the support of SiGMA Group, we will be able to accelerate this strategy through their global event calendar, enrich both training and event content and reach a much wider audience than ever before”

“The acquisition of IGA is another important milestone for SiGMA’s vision. IGA’s extensive training library rounds up our offer of services for the igaming industry by allowing us to be at the forefront of educational and regulatory tools for the market. We have strong confidence in Jaime and his team and are thrilled about the next chapters,” added Vinicius Moraes de Carvalho, Investment Partner at Ikigai Ventures.

We will continue to work in our current organisational structure with Jaime Debono remaining as company CEO and continuing to work alongside our team.

The management here at iGaming Academy will remain at the helm, with SiGMA’s corporate governance and marketing arm supporting the business to go from strength to strength.

Following the acquisition, we will be setting up an office in Cyprus to continue to build our online offering and content development. In addition, revenue streams will also be bolstered through new affiliate partner deals. More courses will also be made available in multiple languages, thus meeting the global demand for training.

Meet the iGaming Academy team in person at SiGMA Americas in Sao Paulo or get in touch with us online.

In the global iGaming sector, navigating the complex web of regulatory requirements across multiple jurisdictions is a challenge for HR and L&D teams. Failure to comply can result in hefty fines, reputational damage and even loss of operating licences. Therefore, investing in comprehensive multi-jurisdictional training is not just a legal requirement but a strategic imperative for iGaming operators.

One of the primary challenges faced by iGaming operators is the breadth of regulatory variations across different countries and regions. From Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) to Responsible Gaming (RG), the differences can be both subtle and pronounced. Either way, traditional one-size-fits-all training approaches fall short in adequately addressing these complexities.

The benefits of investing in multi-jurisdictional training extend beyond compliance. Strategic growth in the iGaming sector hinges on maintaining a competitive edge and expanding market reach. By equipping employees with the requisite knowledge and skills to navigate diverse regulatory environments, organisations can unlock new opportunities for expansion and innovation.

Moreover, a robust training programme builds a culture of compliance within the organisation, instilling confidence among stakeholders and customers alike. Demonstrating a commitment to regulatory adherence enhances trust and credibility in an industry where integrity is paramount.

Tips for Managing Multi-Jurisdictional Training

1. Conduct a Comprehensive Regulatory Assessment:

• Begin by conducting a thorough assessment of the regulatory requirements in each jurisdiction where your company operates.
• Identify key areas of compliance such as AML, CTF, responsible gaming and data protection laws.

2. Engage Compliance Stakeholders:

• Collaborate with your compliance team, local experts or training providers, to help manage your compliance training content to ensure accuracy across all jurisdictions.
• Encourage open communication channels for employees to raise compliance-related concerns and seek clarification on regulatory matters.

3. Utilise Technology Solutions:

• Leverage eLearning platforms (LMS) to streamline training delivery across multiple jurisdictions.
• Choose platforms that offer scalability and adaptability to accommodate diverse regulatory landscapes.

4. Measure Training Effectiveness:

• Implement metrics to evaluate the effectiveness of training programmes in achieving your compliance objectives.
• Ask for feedback from employees across the jurisdictions you operate in to identify areas for improvement and refine training strategies accordingly.

5. Provide Ongoing Education and Updates:

• Working with your training provider or key stakeholders, stay abreast of regulatory changes and updates in each jurisdiction and incorporate them into training materials promptly.
• Offer regular refresher courses to keep employees informed about evolving compliance requirements.

Businesses operating in the global iGaming market require adaptable and scalable training solutions that cater to the diverse regulatory landscapes they encounter. Modular training formats, such as the ones offered by iGaming Academy, provide a customisable approach tailored to the business’ needs from jurisdiction specific-training to the upload of complimentary in-house training.

The modular format means that employees don’t have to repeat content that is common to all jurisdictions. Instead, they simply complete the foundation module covering core principles, and then jurisdiction-specific modules assigned to them on an individual basis – relevant to their role. Our plug-in technology makes it easy for HR and L&D teams to deliver, track and manage global employee training, with the flexibility to stagger rollouts between different teams, as well as the ability to provide auditors with training records and course outlines specific to their jurisdiction.

To learn more about our jurisdiction-specific plug-in technology for Anti-Money Laundering and Responsible Gaming, click here. If you would like a demo of the solution, contact us here.

This month, February 2024, Cura?ao took a significant step forward in its gambling reforms by issuing its first licences under the new regulatory regime. This marked the next step of the re-regulation era for the island’s gambling sector, including the establishment of the Cura?ao Gaming Authority (CGA), an independent body mandated by the government.

Under the incoming National Ordinance for Games of Chance (LOK) legislation, both B2C operators and B2B suppliers are now required to apply for direct licences with the Gaming Control Board (GCB). These new licences come with stringent controls, including heightened anti-money laundering measures and a mandate for a stronger local presence. Notably, B2C operators must have at least three employees occupying “key positions” working on the island.

Key provisions of the LOK encompass all gaming activities, including the issuance, suspension and withdrawal of licences, as well as promoting responsible gambling practices. One significant requirement is the submission of audited policies and procedures within six months of licence issuance, aligning with international standards expected of reputable gambling operators. These standards encompass player protection, dynamic anti-money laundering procedures, KYC (Know Your Customer) protocols, responsible gaming practices, and robust technical and information security setups.

The overarching goals of the LOK legislation are clear:

1. Preventing and combating criminal activities
2. Responsible gaming and protecting vulnerable persons, including minors
3. Safeguarding Cura?ao’s international reputation, especially in the iGaming industry

Expectations for Compliance Training in Cura?ao

Globally, regulatory bodies are placing increasing emphasis on compliance training as a crucial component of ensuring adherence to regulatory standards. This is expected to be no different in Cura?ao. Therefore, iGaming operators must prioritise implementing robust compliance training programmes, monitoring and managing training completions, and having processes and reporting mechanisms in place for audits.

Here are some best practices for iGaming operators in Cura?ao to effectively manage compliance training:

1. Central Policy Hub: Establish a centralised platform for updating internal policies and procedures. This ensures that all staff members have access to the latest compliance guidelines and regulations.
2. Staff Training Initiatives:?Develop comprehensive training initiatives tailored to different roles within the organisation. Training should cover topics such as responsible gaming practices, anti-money laundering procedures, and regulatory requirements specific to Cura?ao.
3. Utilise eLearning Management Systems (LMS): Implement an LMS to streamline the management of compliance training programmes. An LMS allows for the creation, delivery, and tracking of training modules, as well as generating reports to demonstrate compliance during audits.

How We Can Help

Amid all these changes to Cura?ao’s gaming regulations, iGaming Academy is here to help. We’re keeping a close eye on what’s happening to ensure you have the tools and training materials needed, aligning compliance training with the new regulations.

We offer compliance training covering everything from responsible gaming, anti-money laundering, countering the financing of terrorism, and more. Our training materials are aligned with international regulations and provide a foundation for employees working in any market. However, our compliance experts are also developing jurisdictional content specifically for Cura?ao, so you can assign tailored eLearning modules to employees working in the market.

We can also help you put in place the reporting infrastructure needed for audit – if you don’t have a suitable platform at present. Our LMS provides a centralised platform to deliver your compliance training and provides audit-ready evidence to demonstrate adherence to training requirements.

As we all await the arrival of Cura?ao’s new LOK, you can keep up-to-date with the latest developments and our Cura?ao specific courses by registering your interest here.

If you still have to complete your annual Anti-Money Laundering training for Ontario, the deadline is March 31st!

According to the requirements set by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations, an AML Compliance Program needs to incorporate ongoing training sessions for staff members. The purpose of this training is to enhance Operators with better understandings of the regulatory duties, AML procedures, and the implemented controls, while also outlining Operators’ roles in detecting and preventing activities related to Money Laundering and Terrorist Financing.

Here are some reminders:

• All employees involved in AML/ATF-related activities, including Senior Management (with roles outlined in your AML policies and procedures), are required to complete the iGO 2024 AML/ATF Training by March 31, 2024.
• An assessment with a minimum passing score of 80% is mandatory. Record of successful completion, including the assessment results, must be shown for each employee and made available if requested.
• Operators can use their own training module as long as it incorporates and utilises the iGO AML/ATF training content, specifically Canadian AML/ATF regulatory requirements, at a minimum.
• Upon completion of the training, an attestation must be sent over to confirm that all employees required to take this training have done it. This attestation must be submitted to iGO no later than April 12, 2024. It is crucial that all necessary employees complete this training module by the specified deadline to ensure that AML/ATF compliance standards are met.

Understanding the responsibilities that both individuals and businesses should have in order to identify instances of money laundering and terrorist financing along with how to prevent them is the main goal of this training. Learning the obligations when it comes to reporting and recording these instances is also imperative.

iGaming Academy has a partnership with the Canadian Gaming Authority (CGA) that brings vital Canadian-specific eLearning courses and services to the market. Together we bring our online training capabilities and experience with their Canadian network, market expertise, and insight.

If you need to get your Ontario AML training done ASAP, here’s the link to our course:

Anti-Money Laundering and Counter Terrorist Financing For Online Operators

Need the training for your whole company? Check out our Learning Management System, which can be curated to seamlessly teach all your employees:
https://www.manufacturer-exporters.com/how-it-works/

Interested to learn more about our CGA Partnership, see here:
https://canada.www.manufacturer-exporters.com/courses

Get in touch with us if you have any more questions
https://www.manufacturer-exporters.com/contact-us/

The landscape of iGaming regulation in Cura?ao is undergoing significant change. As the industry watches these developments with keen interest, iGaming Academy is diligently monitoring the evolving situation. Our overarching focus is on empowering businesses and individuals in Cura?ao with the knowledge and resources to navigate this new regulatory environment.

At iGaming Academy, we understand the transformative power of education. Our mission is to raise industry standards by delivering essential training on topics including Compliance, Responsible Gaming, Anti-Money Laundering, and more. We are committed to offering tailored educational solutions designed for the specific needs of the Cura?ao market.

We believe that through knowledge-sharing and professional development, iGaming businesses in Cura?ao can not only adapt to these regulatory changes but thrive within them. A well-informed industry lays the foundation for greater sustainability, innovation, and consumer protection.

As we eagerly await the arrival of Cura?ao’s new LOK, we’re committed to staying up to date with all the latest information and releases in this evolving jurisdiction. Register your interest here so we can keep you up-to-date on?the latest developments or learn more about our?Cura?ao specific courses that we’ll have soon.