Georgia Gaming Congress Demonstrates Commitment to Security

Money laundering has been associated with online gaming in the past; its time to separate myth from reality.

GGC Provides New Insight

In Tbilisi, on February 20, that is exactly what is going to happen, at the major industry event that the Georgia Gaming Congress GGC represents.

New opportunities in iGaming will be revealed by the myriad of market segments to be represented, and providing facts to update prevailing stigmas is key component of the effort.

To this end, the Georgia Gaming Congress has announced that Aram Oreblyan, a senior partner law firm in “Concern Dialogue” where he heads the department of corporate law and judicial practice, will join the diverse and knowledgeable list of industry experts as a speaker.

Legal Expert Speaks on Money Laundering

At GGC, Oreblyan has been enlisted to present a report on "Gaming business: compliance with anti money laundering legislation." Showing compliance and also pitching in to battle money-laundering are dual roles that the industry is eager to play, and Oreblyan is positioned to deliver that message on the prominent public format that GGC represents.

Putting Previous Concerns in Perspective

The source of concern in the iGaming sector has arisen from previous reports of online gambling providing a cover for money laundering. However, the idea of legitimate online gambling sites being an attractive means of laundering money is a misnomer because cybercriminals were found in the past to hide money from authorities through unlicensed gambling sites that proliferated in previous years. The fact is that unlicensed sites are illegal in and of themselves, and increased compliance by licensed operators will include the ready availability of reporting of proceeds to authorities, which will eliminate the grey area association with unlicensed online gambling sites that have made them attractive targets for exploitation by money launderers in the past.