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Business News of Monday, 9 September 2019

Source: peacefmonline.com

Mobex Tech Expo 2019: Betway pushes for zero tolerance towards money laundering

Betway Ghana’s Director and company secretary, Dr. Kweku Ainuson joined other panelist at the Mobex Africa Tech Expo as they discussed mobile money and its regulations in e-commerce. Dr. Ainuson, whilst speaking, highlighted the need for stringent regulations in the mobile money industry as far as the sports betting industry is concerned.

He further explained that a well-regulated mobile money sector would enhance rapid growth of e-commerce in Ghana and boost the confidence of key players in the sector. He mentioned the measures being put in place by leading online sports betting company, Betway Ghana with respect to monitoring and supervising the betting landscape for money laundry and underage betting.

He said, “We have adopted a zero tolerance to money laundering or any financial crime. A compliance officer has been appointed and we are offering extensive training to staff on the company’s view, spotting and reporting of such activities.”

Dr. Ainuson further touched on sanctions and measures in place to help monitor and minimise any such activities. Relationships with players who are suspected of money laundering or any financial crime will be terminated.

“Such suspicions will be investigated thoroughly and actions taken accordingly. Guilty parties will be reported to the appropriate law enforcement organisations” he said.

Mobex Africa Tech Expo is a platform aimed at creating opportunities for local technology innovators and start-ups. This year’s Mobex Africa Tech Expo was held at the Kempinski Hotel in Accra under the theme “E-Finance; Future of Payments And Banking.”