The compliance experience of GeoComply adds to the expertise of IBJR members and associates to propose solutions to the Brazilian market regarding combating game manipulation, online fraud, as well as measures that enable integrity in sports.
Founded in 2011, GeoComply provides compliance solutions for major international betting companies such as FanDuel, DraftKings, Caesars, BetMGM, bet365, Betsson, 888 Holdings, Bally's, Hard Rock Casino, GVC Holdings, IGT, Churchill Downs, Golden Nugget, PokerStars, and Rush Street.
In practice, GeoComply's work is to provide solutions based on data collection mechanisms to detect fraud and financial crimes, account acquisition, abuse of promotions, and proxy betting. Additionally, it offers tools against identity theft, money laundering, fraud networks, and sanctions violations, as well as promoting improvements in age and identity verification approval rates in online gaming, essential topics for a regulated and safe market.
According to IBJR President, André Gelfi, the regulation of the Brazilian market has enabled the discussion of effective measures for the protection of players and online betting operators.
"The Brazilian scenario calls for direct measures to combat game manipulation, fraud, and identity theft. GeoComply's extensive experience in this sector aligns with IBJR's objectives to work alongside companies that can provide important information to the government and society about methods to detect counterfeiting and fraudulent processes in online gaming."
"This partnership puts us in another level of discussion on how to combat illegal attempts to manipulate bets and intelligently verify players," he emphasizes.
Lindsay Slader, Senior Vice President of Compliance at GeoComply, expressed enthusiasm for the partnership. "Joining IBJR creates a dynamic platform for connection with industry leaders. We are excited to become associates of IBJR and look forward to collaborating with industry-leading members to promote critical policy priorities, including consumer protection and responsible gaming."
"Being part of this organization is aligned with GeoComply's mission to make the internet a safer place for consumers and businesses. The industry will be able to leverage our solutions to prevent and detect fraud and money laundering and ensure the highest levels of integrity throughout the regulated market in Brazil."
With GeoComply, the Brazilian Institute of Responsible Gaming now has 19 member companies.
There are 11 international sports betting operator members (bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group, Novibet, LeoVegas, and Kaizen Gaming), one fantasy games company (Rei do Pitaco), three payment solutions providers (Pay4Fun, Grupo OKTO, and OneKey Payments), a media group (Better Collective), the Clever Advertising agency, the digital and sports marketing company Volta Pra Marcar, and the anti-fraud solutions company GeoComply.
The Brazilian Institute of Responsible Gaming (IBJR) was founded with the aim of fostering debate on the regulation of this segment in Brazil, contributing information to advocate for the creation of clear rules and guidelines so that sports betting companies can operate legally, protecting the interests of players and civil society.
Source: GMB
