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GCB Requirements for Compliance Officer Based on NOIS/NORUT
Introduction
The GCB provides these guidelines for the role of a Compliance Officer which is a statutory requirement for Curacao companies under the National Ordinance on the Identification of Clients when Rendering Services (NOIS) and the National Ordinance on the Reporting of Unusual Transactions (NORUT) as part of the fight against money laundering and terrorism financing.
Fit and Proper Requirements
The GCB aims to license operators that maintain integrity in their operations, which includes an effective compliance function. The individual acting as a Compliance Officer must demonstrate professional experience, competence and integrity. This entails specific requirements for those authorized by the GCB to serve as a Compliance Officer for a gaming operator.
Suitability
As part of the fit and proper process of the Compliance Officer, the operator must submit a comprehensive Personal History Disclosure Form to the GCB, along with all necessary supporting documents, including a CV, to enable the GCB to conduct thorough due diligence. The due diligence process may include, but not limited to, an assessment of the Compliance Officer’s:
- Personal and Professional History: Assessment of the individual’s background and experience, including any past legal or regulatory issues, to ensure no history of criminal activity, regulatory violations, or other conduct that would raise concerns about their suitability for the role.
- Reputation: Verification of the individual’s reputation through reference checks and, where applicable, consultation with relevant regulatory or industry bodies.
Competence
The operator must provide a detailed CV of the Compliance Officer, detailing their experience and education levels.
To qualify for the role, the Compliance Officer should meet one of the following criteria:
- Education and Experience: At least two years of experience in Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) compliance in a reporting role, along with a bachelor’s degree or a relevant AML certification. Recognized certifications in Curaçao include the CAMS certification from the Association of Certified Anti-Money Laundering Specialists (ACAMS) and the AMLFC certification from the AML Foundation & Compliance Institute. Other comparable certifications may be accepted, subject to approval by the GCB.
OR
- Experience Only: At least four years of experience in AML/CFT compliance in a reporting role.
Additionally, individuals with at least two years of experience in a Money Laundering Reporting Officer (MLRO) role, or equivalent, in other jurisdictions are qualified to serve as a Compliance Officer according to NOIS/NORUT.
The Compliance Officer must demonstrate a commitment to continuing professional development by investing at least 10 hours annually in AML-related training. This may include industry-specific training and workshops offered by the GCB.
The Compliance Officer should have knowledge of Curaçao laws, including NOIS and NORUT, as well as AML regulations issued by the GCB. Familiarity with screening against EU and OFAC sanctions lists is also required.
- Scope of Responsibilities
The operator must formally designate a senior officer at the management level as responsible for detecting and deterring money laundering and terrorist financing. This AML/CFT Compliance Officer should have timely access to customer identification data, Customer Due Diligence (CDD) information, transaction records, and other relevant data, and must be able to act independently.
The Compliance Officer is responsible for:
- Designing and implementing the AML program.
- Ensuring compliance with Curaçao laws and regulations regarding money laundering and terrorist financing.
- Reviewing adherence to the casino’s policies and procedures.
- Organizing staff training sessions on compliance-related issues.
- Analyzing transactions and identifying those subject to reporting under the Ministerial Decree on Indicators for Unusual Transactions.
- Reviewing internally reported unusual transactions for completeness and accuracy.
- Maintaining records of both internally and externally reported unusual transactions.
- Design an internal procedure about when reporting of unusual transactions will lead to blocking/ freezing of user accounts
- Conducting further investigations into unusual transactions if necessary.
- Preparing external reports on unusual transactions.
- Making necessary changes to the AML program.
- Staying informed about local and international developments related to money laundering and terrorist financing and suggesting improvements to management.
- Preparing periodic reports on the casino’s efforts against money laundering, terrorism financing, and proliferation financing.
Conflict of Interest
The role of Compliance Officer must not be combined with any other function that could lead to a conflict of interest or compromise the independence of the compliance function. The Compliance Officer role cannot be combined with the functions of UBO, CEO, CFO, COO, Casino Manager, Slot Manager and other operational functions. Additionally, it should be separate from the internal audit function.
Exercising of Functions in Other Jurisdictions
An individual appointed as a Compliance Officer for a Curaçao entity may also serve as an MLRO in a foreign jurisdiction, provided they have sufficient time and resources to fulfill all roles effectively.
Outsourcing
The GCB permits the outsourcing of the compliance function to a reputable third party. The CV of the responsible manager must be submitted, detailing their experience and education levels. The operator should be able to provide the outsourcing contract upon request for evaluation by the GCB.
Any one person cannot represent more than 10 operators in the role of compliance function. This limit also includes similar roles in foreign jurisdictions. In specific cases, the GCB may contest this maximum given the size of the serviced operators.
Please note that the licensed operator remains responsible for ensuring the proper execution of the compliance function.
Transitional Arrangements
The GCB expects that both current and newly appointed Compliance Officers in the gaming sector will adhere to these guidelines.
If existing Compliance Officers of licensed operators do not meet one or more requirements at the time of introduction, some adjustment time will be allowed. The GCB expects the operator to comply with item 3 for its compliance officer right away. For items 5 and 6 the operator will have up to six months to comply with these requirements. Regarding item 4, competence, if the compliance officer is not compliant regarding experience and education levels, the licensed operator is awarded a maximum of 1 year to bring the knowledge of the compliance officer up to par. In this case, the licensed operator should disclose a training plan for the Compliance Officer, which will be monitored by the GCB.
Operators that have applied for a GCB license but have not been granted a license as yet at introduction date, should make sure that the proposed compliance officer complies with these guidelines since the mentioned transitional arrangements will not apply.
Exemptions
B2B licensees are not required to appoint a compliance officer as per the requirements issued in this guidance document.
Implementation Date
The implementation date is set for January 1, 2025
The post GCB Requirements for Compliance Officer Based on NOIS/NORUT appeared first on European Gaming Industry News.
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India Levels Up: Emerging as a Global Gaming Powerhouse in 2024
The Indian gaming industry is breaking boundaries, redefining innovation, and expanding its footprint globally with Indian gaming companies witnessing an exponential growth. The industry is estimated to reach INR 33,243 crore by FY28, showing a 15% CAGR. From a nascent market to now being the world’s fastest-growing gaming hub, India has positioned itself as a vital contributor to the global gaming industry which is projected to surpass $200 billion by 2025.
This explosive growth is fuelled by Indian gaming developers and investment companies that are scaling up studios and pushing the boundaries of creativity and technology. Companies like WinZO are enabling localized gaming experiences for international markets. In a groundbreaking move to elevate India’s position in the global gaming industry, the Department for Promotion of Industry and Internal Trade (DPIIT) has recently signed a Memorandum of Understanding (MoU) with WinZO, India’s largest social gaming and interactive entertainment platform. This partnership marks a significant step towards establishing India as a global leader in interactive entertainment, aligning with Prime Minister Narendra Modi’s vision of an Atmanirbhar Bharat (self-reliant India) in gaming and technology.
Aligning with the robust growth trajectory towards the global arena, a homegrown giant and India’s only listed gaming and esports company, Nazara Technologies has established a strong global presence through strategic acquisitions and partnerships. Cutting-edge developers like Felicity Games, and investment powerhouses like Jetapult are also driving the transformation, making India a force to be reckoned with.
Nitish Mittersain – Jt. MD & CEO – Nazara Technologies looked back at 2024 and stated, “As 2024 comes to a close, India’s gaming industry has proven its resilience and potential, emerging as one of the fastest-growing markets globally. What excites me most is the growing alignment between innovation and accessibility—be it through mobile gaming, localized content, or the increasing reach of esports. In 2025, I see India making significant strides toward becoming a global gaming powerhouse, with several key trends driving this transformation.
Firstly, the widespread adoption of AI and immersive technologies like AR/VR will not just elevate the quality of gaming experiences but also create new opportunities in areas like education, fitness, and community building. Secondly, as regulatory clarity improves, particularly around real-money gaming, the industry will see increased investor confidence and a more robust ecosystem. Finally, the emergence of cross-sector partnerships between gaming, entertainment, and e-commerce will redefine monetization models, creating sustainable growth for developers and platforms alike.
As we look ahead, our focus as an industry should be on nurturing talent, fostering innovation, and ensuring inclusivity in gaming to truly unlock India’s potential on the global stage. The journey has only just begun, and the best is yet to come.”
Jetapult, a strategic investment company, is at the forefront of this revolution. By employing an “Invest & Operate” model, Jetapult aims to help scale gaming studios across emerging markets and was the first international company to make an investment worth $4.5m in the Saudi Arabian gaming studio space, in 2024.
“Reflecting on 2024, one thing is clear: the future of gaming will be defined not by geography but by exceptional talent paired with the right strategic support. At Jetapult, we’re actively partnering with studios, not just deploying capital but helping them scale globally through hands-on collaboration.
Our $4.5M investment in Saudi Arabia’s vibrant gaming ecosystem highlights our commitment to the ‘Invest & Operate’ model, providing end-to-end support across development and publishing. As the gaming industry nears $200 billion, success requires more than funding—it demands expertise, infrastructure, and global access. With our deep understanding of the inherent challenges in game development and our platformized approach, we’re helping studios scale sustainability and compete on the world stage,” said Sharan Tulsiani Co-Founder & CEO Jetapult.
Indian developers are also making waves with their innovative creations. Felicity Games, founded in 2023 known for its immersive experiences and unique storytelling, the company has launched over 10 games in its first year, attracting more than a million users across 14 countries. Anurag Choudhary – Founder & CEO – Felicity games said, “The Indian gaming industry has undergone a transformative journey, emerging as a global force driven by innovation, talent, and a rapidly expanding audience. At Felicity Games, we’re proud to be part of this revolution. In just one year, our focus on building hybrid casual games that combine global appeal with immersive gameplay has enabled us to launch over 10 titles and engage over a million players across 14 countries. This rapid growth is a testament to India’s ability to create world-class gaming experiences. As we step into 2025, we see immense potential for Indian developers to set new benchmarks, pushing boundaries in creativity and technology, and establishing India as a powerhouse in the global gaming ecosystem.”
The backbone of this growth is India’s talent pool, with over 450,000 professionals skilled in game design, programming, and animation (source: NASSCOM). Gaming studios are thriving in metropolitan hubs like Bengaluru, Mumbai, and Hyderabad, attracting international attention. India’s low production costs, paired with high-quality output, have further made it a preferred destination for global gaming giants.
Investments in the Indian gaming ecosystem have skyrocketed, with $2 billion poured into the industry in 2023 alone, a 55% increase from the previous year (source: Venture Intelligence). This financial influx is fostering a vibrant ecosystem of startups, mid-size studios, and large-scale developers. The convergence of talent, technology, and capital is setting India on a trajectory to become one of the top five gaming markets in the world. As developers and investors continue to join forces, India is not just catching up—it is redefining the rules of the game.
The post India Levels Up: Emerging as a Global Gaming Powerhouse in 2024 appeared first on European Gaming Industry News.
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Nazara Publishing Announces Android Beta Release Date for FAU-G: Domination
Nazara Publishing, the publishing arm of Nazara Technologies has announced that the Android beta for its upcoming Made-in-India military shooter, Fearless and United Guards (FAU-G): Domination will be available from December 22, 2024.
Developed by Mumbai based Dot9 Games, the first-person shooter game recently wrapped up in-person playtests with game design college students at Ecole Intuit and KJ Somaiya.
Players participating in the beta will have the chance to experience the game’s full suite of maps, modes, weapons, and playable characters ahead of its official launch. This version of FAU-G: Domination will include all core shooter gameplay elements, alongside new features refined through community feedback from earlier playtests. Updates include map optimizations, sound enhancements, weapon balancing, and more.
How to Play the FAU-G: Domination Beta:
1. Sign up for the waitlist by completing the form
2. Check your email for the beta access link.
Participants in the beta will receive one-of-a-kind exclusive cosmetic items to cement their status in shaping FAU-G: Domination. These items will not be available post-launch. Additionally, a select number of lucky players will win unique, limited-edition FAU-G: Domination merchandise.
Depending on demand, access to the game may be delayed. Players can stay updated via the official Discord channel and social media handles of Dot9 Games on Instagram and Twitter.
A week ago, Dot9 Games and Nazara Publishing held its latest playtest enroute to the FAU-G: Domination release date at Ecole Intuit and KJ Somaiya. The audience consisted of the next-generation of Indian game developers and creators. Here’s what they thought of the game:
- Nearly 80% of players highlighted the Indian environments and themes in-game as standout features.
- 55% of players preferred the Team Deathmatch, followed by the Kiss of Death (one shot one kill mode) at 30%.
- Approximately 75% of players rated the gunplay in the range of ‘good’ to excellent’.
- 10% of players reported device overheating, showcasing areas for further optimisation.
The gameplay trailer of FAU-G: Domination was unveiled by Bollywood actor Shri Akshay Kumar earlier this year. Under his mentorship, this game is dedicated to Bharat Ke Veer. Bharat Ke Veer Trust gives homage and support to India’s Bravehearts. To support the families of India’s Armed Forces Martyrs, Nazara donated Rs. 25,00,000 to Bharat Ke Veer and FAU-G: Domination will also feature specific cosmetic items such as badges, of which 100 percent of the proceeds will go towards Bharat Ke Veer.
FAU-G: Domination Pre-Registration Details and Exclusive Offers
Pre-registrations for FAU-G: Domination are now live on the Google Play Store for Android with pre-registrations on the App Store for iOS and iPadOS to follow soon. Pre-registering now gets players the Beast Collection.
The Beast Collection is a limited edition set of in-game cosmetics inspired by the ferocity of the Tiger — India’s national animal.
These include six accessories: frame, banner, avatar, sticker, spray, and charm, as well as six-gun skins: sawed-off shotgun, USP, Scout rifle, M4, Uzi, and Kabar.
The Beast Collection will only be available for players that pre-register and will not be available after launch.
The post Nazara Publishing Announces Android Beta Release Date for FAU-G: Domination appeared first on European Gaming Industry News.
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Week 51/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
PG Soft has released its epic samurai saga, Geisha’s Revenge. Set among Japan’s opulent teahouses, the game follows leading light Ayane on her quest to seek justice for her family by the ruthless samurai. Geisha’s Revenge is a video slot presented within a framework that has five reels, the first of which has five rows and the next four have six rows.
3…2…1… Get ready for blastoff in Wild Moonsters, the latest intergalactic slot adventure from in-demand studio, Silverback Gaming. Players go on a cosmic thrill tide as they navigate a hexagon game grid to create stellar clusters of 4+ matching symbols to form wins. They also need to keep their eyes out for the Wild symbol, which shoots excitement, and big win potential, into the stratosphere.
TaDa Gaming has released its latest slot game, Lucky Jaguar. With three rows, three reels and five fixed play lines, this fast gameplay slot delivers wild bonuses and multiplier bonuses alongside the TaDa Extra Bets and Lock and Respin features. The wealth of the Aztec empire is waiting in Lucky Jaguar in both the main game and the bonus game, which can trigger randomly at any time to deliver the Lock and Respin feature.
ICONIC21, the in-demand provider of live content, continues to push boundaries with the addition of slots to its growing game portfolio. The provider’s slot games will combine classic mechanics, engaging narratives and fun characters offering players an interactive experience throughout. The first slot titles to go live will be Solar Sands, Vitamin Joy, Tortuga Fortune and Juicy Coins: Hold & Win with ICONIC21 planning to launch one slot per month in 2025. The slots are high volatility ones, with max wins ranging from x300 to x36,000. Wild & Scatter Symbols, Hold & Win, Bonus Rounds, Multipliers and Free Spins ensure the games have a fluid, entertaining gameplay.
BGaming takes the concept of the ever-popular premium rubber duck stores and swings open the doors to its own slot version in Lucky Ducky X-Mas Edition. This quacky festive title features the popular MergeUp™(patent pending) mechanic with nine levels, Free Spins with multipliers up to x128, and both the Buy Bonus and Chance x2 buttons.
Evoplay has launched Sea of Wealth, an underwater adventure combining engaging visuals and innovative features. The game features a 3×3 reel layout with symbols inspired by marine life and hidden treasures. Poseidon serves as the Wild symbol, while his Trident activates the Bonus Game when paired with Bonus symbols. With Trident Magic, Poseidon’s Trident collects values from Bonus symbols, while Trident Shot can trigger a transformation of random symbols on reels 1 or 3 into Bonus symbols, increasing the likelihood of activating the Bonus Game.
Nolimit City returns to the most profitable sweatshop in the business in Outsourced: Payday. Workers have been replaced by claws who never call in sick! This Labs-branded slot takes the Outsourced theme to the next level. This is yet another experimental game that changes the way players enjoy Nolimit City’s slots.
Battle the beast and claim untold riches in Jolly Roger Wild Kraken! This high-seas pirate expedition takes players deep into the Kraken’s lair, where treasures await those brave enough to face the fury of the legendary Wild Kraken. Play’n GO’s latest release brings back Captain Red Roger in an all-new nautical escapade. Having braved countless dangers in search of treasure, Roger now sets his sights on Kraken Deeps – a perilous archipelago shrouded in mystery and riches.
PopOK Gaming announced the launch of Papai Noel da Fortuna, the latest holiday-themed slot game. Just in time for the season of joy, this exciting release captures the magic of Christmas and New Year with festive fun, dazzling rewards, and immersive gameplay. Step into a winter wonderland where Santa Claus himself takes center stage, filling the reels with sparkling ornaments, golden bells, and overflowing gift bags. With Papai Noel da Fortuna, every spin is a celebration of holiday cheer and fortune.
ELA Games, a modern and trailblazing game development studio, announces the release of its latest game, Wealth of Legends. The slot aims to attract players of various audiences with its unique format, exciting graphics and captivating features. The 5×5 game pays all ways, giving players plenty of opportunities to win during the base game, keeping the playing experience engaging. Landing a coin symbol in the special zone triggers the Hold & Win feature, which begins three free re-spins. Collect special jackpot coins for a lucrative win!
The post Week 51/2024 slot games releases appeared first on European Gaming Industry News.
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