What is the Difference Between Gaming and GamblingĪlthough gaming and gambling are often used interchangeably, there is a distinction between the two depending on the skill level involved in the activity. Despite these changes, it is still crucial for gaming and gambling companies to have robust AML policies and procedures in place to mitigate the risk of financial crime and stay compliant with evolving regulatory requirements.
However, with the potential for significant revenue generation, some traditionally gambling-averse jurisdictions are beginning to reassess their stance and amend their regulations to accommodate the industry. The gaming and gambling industry has historically been associated with money laundering and other criminal activities, which has led many jurisdictions to impose strict regulations and restrictions on these institutions, whether online or offline. Anti-money laundering (AML) is a crucial aspect of any industry that deals with financial transactions, and the gaming and gambling industry is no exception.
