National Compliance Officer Day is observed annually on the 26th of September. National Compliance Officer Day recognises the professionals who oversee the regulations, policies and procedures of an organisation, ensuring it conducts business ethically. Sometimes it is forgotten that Compliance Officers carry a heavy burden. They face the task of overseeing organisation policies, understanding complex issues and promoting ethical behaviour. But why is compliance so important in the gaming industry?
1. Safety of our players
We have a responsibility to ensure our players are safe to gamble and gamble responsibly when they do so. Responsible gambling is important with age restrictions and parental controls. Compliance measures are often put in place to protect players from unethical practices, fraud, and addiction. These regulations ensure fair play, responsible gambling, and the security of players' personal and financial information.
2. Prevents financial and legal risk
Adherence to compliance measures serves as a robust safeguard against a range of financial misconduct, including money laundering, fraudulent activities, and other financial crimes. Compliance is also important when keeping a business out of legal trouble and keeping it clean, lack of compliance can lead to legal consequences, including fines. Adhering to data protection and privacy laws is essential in any industry.
Compliance ensures that gaming companies are safe and prevents violations, keeping the company as secure and unbreakable as possible. We've recently collaborated with JC Cyber Security to enhance the strength of our security. Read our experience with JC Cyber Security here.
4. International Expansion
When looking to expand globally, compliance is vital for gaming. Different countries have varying regulations, and adhering to them is crucial for entering new markets and ensuring a smooth operation. To successfully extend your gaming company's presence to various global locations, it is essential to maintain a high level of compliance.
Compliance at Storm Games
Meet our Marketing and Compliance Executive, Megan Sheldon.
Megan recently completed her Compliance in iGaming Course. She presently occupies a crucial role within the Compliance department at Storm Games. Megan quotes "I fully appreciate the significance of my role and its responsibilities. Given the ever-evolving nature of compliance regulations, which are continually adapting to stay in sync with the latest rules and policies aimed at ensuring the safety of both Storm and our players, I recognise that I will need to engage in ongoing compliance training to stay current with the latest developments in the compliance field."
Honour the compliance team in your company by using the hashtag #ComplianceOfficerDay.