Licensing
This document authorizes a gaming operator to legally conduct gaming activities in The Bahamas.
What is a gaming license?
Operators must verify customer identity through this process before allowing certain transactions.
What is Know Your Customer (KYC)?
These may be conducted by the regulator to ensure compliance with the gaming laws.
What are Inspections?
Failure to comply with gaming regulations may result in this financial consquence.
What is a fine?
This policy allows players to voluntarily ban themselves from gambling.
What is self- exclusion?
This Bahamian authority is responsible for issuing gaming licenses.
What is the Gaming Board for The Bahamas?
International AML standards are developed by this oraganization.
What is the Financial Action Task Force (FATF)?
Inspectors often review these to verify gaming transactions and compliance.
What are records or gaming logs?
Besides fines, regulators may suspend or revoke this.
Employees are trained to identify these signs in patrons.
What are signs of problem gambling?
Before receiving a license, applicants must demonstrate they are "fit and" this.
What is proper?
Suspicious transactions should be reported to this type of authority.
What is the Financial Intelligence Unit (FIU)?
Regulators may perform these without prior notice.
What are unannounced inspections?
Knowingly allowing underage gambling could lead to these regulatory actions.
What are fines, suspension or license revocation?
This international principle encourages minimizing gambling-related harm.
What is responsible gaming?
Operators must notify regulators before making significant changes to this aspect of their business.
What is ownership or control?
This ongoing process monitors customer transactions for unusual activity.
What is transaction monitoring?
Inspectors verify compliance with AML requirements by reviewing these customer files.
What is KYC/customer due diligence records?
International AML failures can exposure operators to this type of legal risk beyond local sanctions.
What is regulatory or criminal liability?
Providing information on odds and risks promotes this key responsible gaming principle.
What is informed decision making?
International best practice requires regulators to assess this before granting a license to owners and senior management.
What is suitability or integrity?
FATF recommends a risk-based approach to combating these two financial crimes.
What is money laundering and terrorist financing?
Inspectors may test internal controls to ensure compliance with this international framework.
What is AML/CFT compliance?
A regulator may impose this action if an operator repeatedly breaches.
What is license revocation?
This approach requires operators to intervene when customer behavior indicates gambling related harm.
What is proactive customer interaction or responsible gambling intervention?