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Preventing Money Laundering is No Gamble at bwin
STUTTGART, Germany and VIENNA, Austria, February 16 /PRNewswire/ -- The world-wide leading online gaming provider, bwin Interactive
Entertainment AG, implements the 3rd EU Money Laundering Directive using the
S/Monitor software from Cellent Finance Solutions AG. bwin is one of the
first industry players to exercise the stipulated extended due diligence in
screening customer data for suspected terrorism or embargo breaches.
With S/Monitor, bwin is reacting to the widening of the 'know your
customer' principles laid down in the directive which now also apply to
casinos and gaming companies. The software is a proven group-wide solution
for combating terrorist financing and embargo breaches in the international
big bank environment, featuring automated procedures for daily comparisons of
customer data against embargo lists from the EU, US State Department and
other authorities. These lists detail persons suspected of terrorist
activities or subject to financial sanctions.
The project experience of Cellent Finance Solutions, as well as the
flexibility and user-friendliness of the solution, convinced bwin. An
additional criteria was multi-client capability. This enables the global
group to centrally deploy the monitoring tools for all its subsidiaries.
S/Monitor has been automatically analyzing all customer data at bwin for
indications of embargo breaches or terrorist financing since the start of
2009.
"S/Monitor allows bwin to perform the required customer screening
throughout the group. We can now further enhance security where money
transactions are concerned," explains Kevin O'Neal, press spokesman at bwin.
"This makes bwin a pioneer in combating money laundering and terrorist
financing in the online gaming sector."
Thomas Wild, CEO of Cellent Finance Solutions AG, claims the company has
successfully broken new ground: "We are opening up new business fields
outside of the established banking target group. In bwin we have acquired a
leading international player in its segment as customer. The successful
implementation demonstrates that S/Monitor is also the ideal solution for
industries which perform financial transactions in the widest sense and are
facing new obligations in the wake of the latest money laundering directive,"
he explains.
Press contact:
elisabeth.gutscher-wolf@cellent-fs.com
+49-711-222-992-900
http://www.cellent-fs.com
