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Compliance Updates

Sumsub Releases Transaction Monitoring Guide

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Sumsub, a global tech company that provides customizable KYC, KYB, and AML solutions for the whole user journey, published its Complete Guide to Transaction Monitoring to provide a detailed picture of transaction monitoring as an integral part of the verification system.

The guide was prepared by Sumsub’s compliance and anti-fraud team in partnership with Pismo, an all-in-one, cloud-native financial services platform covering all core banking and payment processing functionalities.

Transaction monitoring is crucial for companies providing financial services, as it helps them perform risk assessments and detect suspicious activities. This expert guide is intended to show businesses in the fintech, banking, insurance, gambling, and e-commerce sectors how to spot transaction fraud, bolster their defenses, ensure full compliance, and optimize user conversion rates at the same time.

Every industry benefits from transaction monitoring in different ways:

  • A gambling or iGaming service can support responsible gaming by easily detecting if a customer is spending more money than declared in their income statement, and a service can curb arbitrage betting by detecting multi-accounters.
  • Banks can automatically detect signs of suspicious activity, such as income drastically higher than in the source of funds statement.
  • In e-commerce, purchases over AML thresholds and unusual spending patterns should automatically raise alarm bells and be prevented.
  • For insurance companies, illegitimate claims and fraud patterns can be detected.

“Nowadays it’s getting harder for regulated businesses to survive and grow in conditions of economic recession: they need to keep pass rates high, attract new users and stay protected from fraud—all at the same time. The perfect tool to help businesses keep up with their ambitious plans and avoid scams on the way to growth is transaction monitoring. It is a new must in verification that should come together with KYC and other AML checks. By combining user, business and transaction verification in a single flow, you get a complete picture of user profiles and can intercept even the most sophisticated fraud attack vectors and patterns, and that provides extra insurance that fraud risks can be reduced,” Vyacheslav Zholudev, co-founder and CTO of Sumsub, said.

Compliance Updates

Licenses received: RockApp strengthens its position in the US iGaming market

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Licenses received: RockApp strengthens its position in the US iGaming market

 

RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the world’s largest and fastest-growing markets.

These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.

This milestone is part of RockApp’s broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockApp’s dedication to innovation, strategic planning, and delivering exceptional value to its clients.

“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. We’re excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”

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Canada

BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

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BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

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Compliance Updates

Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

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Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

 

Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.

Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”

Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.

“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”

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