Assessing Financial Vulnerability and Financial Risk.

November 7, 2023 knownow-admin

We’re delighted to team up with Neil Tyson from Rightway Compliance to deliver the essential training course; Assessing Financial Vulnerability and Financial Risk.

We’ve already successfully held this training for several operators both online and in person. Contact us today to book this course for your team.

The course will provide you with in-depth knowledge of key elements of assessing customers’ finances. This will help support your decisions regarding financial vulnerability and financial risk, including Anti- money laundering source of funds and source of wealth as well as protecting players from gambling related harm.

Following the workshops you will:

Understand key elements of income and capital assets.
Be able to quickly build player financial profiles.
Understand key financial documents and systems in the UK.
Spot the red flags for financial vulnerability and financial risk.
Identify suspicious transactions for money laundering and terrorist financing.
Understand beneficial ownership for complex corporate structures.
Have confidence to ask appropriate questions of customers.
Extract relevant information from bank statements and open banking reports.
Understand and use Open Source Information (OSINT).
Be able to ask more focused questions and arrive at quicker robust decisions.

What can delegates expect?

The course will be delivered through a mix of live instructor led virtual classroom sessions and self-paced learning/assignments. The total attendance time will be 14 hours including 4 x 2hr live virtual instructor led sessions over 2 days.

The two days include informative and interactive sessions designed to give your team a thorough understanding and utilise the tools available, This will help inspire confidence and best practice. The training will be delivered as a mix of online live instructor led sessions, and self-paced assignments and work packs.

All delegates will be required to get involved in team exercises and open conversation. Our experience shows that this is the best way to ensure that you and your team leave with a thorough understanding of the topic. Furthermore you’ll continue to have access to the course resources for reference purposes via an online portal for 12 months following the completion of the course.

Why you should attend?

Understanding customer finances are key elements of both anti money laundering and player protection. Understanding whether a player can afford the level of play or determining whether the source of funds and source of wealth are from a legitimate source are key to both protecting the customer and the operator. Obtaining and understanding the necessary information and evidence is something that teams across the organisation need to be skilled in to avoid adding unnecessary friction to the customer journey for the majority while focusing on compliance for the smaller but important high-risk customers. This course will help you deliver against both of these objectives.

Who Should attend?

Managers and team members involved in the customer journey. These include compliance and AML, customer risk, player protection and affordability, vulnerable customers and due diligence.

How much does it cost?

This training is suitable for whole teams. Contact Matthew Holley for a quote.

Assessing Financial Vulnerability and Financial Risk. What our delegates say.

” Working with Neil from Rightway Compliance has been a great experience from the very start.

As a business that takes its AML obligations seriously, Mansion wanted to bring the best knowledge possible to our teams to assist with complex cases and make sure we manage risks associated with online gaming to an exceptional standard.

Through carefully thought out materials and case studies, Neil passed on a considerable amount of valuable skills, insight and information to our Due Diligence team members and management, which is already paying dividends in the effectiveness of our AML procedures.

During a difficult time, Neil was able to adapt the training to suit remote delivery to members across different jurisdictions. By continuously passing on a wealth of knowledge gained through years of experience, all Mansion staff involved had only positive things to say and are ecstatic with how this exercise has aided their development and skills.

We hope that this will not be the end of the road with our relationship with Rightway given the value they have added already, and would encourage any other operators within the gaming sphere, or businesses with similar AML obligations, to reach out to Rightway to assist with their operations.”
Head of Compliance- Mansion Europe Holdings Ltd

About the Trainer:

Neil Tyson, Director, Rightway Compliance.

Neil is an accredited counter fraud specialist and member of the Institute of Strategic Risk Management. He has over 20 years’ experience in helping senior managers take an ethical and proactive risk-based approach to managing their organisation’s legal and regulatory compliance.

With a background which includes investigating criminals’ finances he specialises in advising leadership teams on the nature of the threats they face, what they should do about those threats and how they should respond if things go wrong. As well as effectively designing appropriate risk management frameworks his audit background also enables him to provide independent assurance to the management board that procedures are operating effectively.

Neil is a firm believer that organisational culture is a key element in achieving ‘compliance by design’ where people instinctively do the right thing. For the organisations he has worked with, including FTSE 100 companies, this has enabled them to reduce their cost of compliance; reduce their cost of non-compliance; gain a greater ability to take risks and gain a competitive advantage in developing new products, services and areas of operation.

Neil’s international career has covered public, not-for-profit and private sectors. He has helped organisations of all sizes. These include the Gambling Commission, the Charity Commission, Solicitors Regulatory Authority, the Energy sector and the Financial Conduct Authority. Furthermore he has also worked in North America advising on compliance issues relating to the complex mix of federal and state legal and regulatory requirements.

Neil now operates as an independent advisor having established his own consultancy, Rightway Compliance, he is also a board member of BetKnowMore who promote responsible gambling and provide gambling support services to address problematic issues caused by gambling. A trusted expert in his field Neil is an international keynote speaker, panelist and moderator.