BMM Testlabs Announce Approval of Singapore License
BMM Testlabs Announce Approval of Singapore License
BMM Testlabs is pleased to announce approval of its Singapore license by the Casino Regulatory Authority in Singapore. Although BMM has been licensed with the Singapore CRA for some time under STRL (Singapore Recognized Testing Laboratory), the CRA recently updated the requirements for testlab licenses to ATSP (Approved Testing Service Provider), requiring BMM to be newly certified. Kirk White, BMM’s Australia Asia-Pacific Executive Vice President & General Manager commented on the new license “We are very pleased to receive the ATSP license from Singapore, as demand for BMM’s services in the Asia-Pacific region continue to grow.” White continues “BMM Testlabs deliver the highest quality testing services available in the gaming industry today and the quality of work coming from our Singapore testlab is no exception. BMM is gearing up for an increased testing demand for online, training and operator services and an increasing number of regulated gaming jurisdictions around Asia.” White concluded “We would like to thank all the staff at the Singapore CRA for their assistance and diligence throughout the licensing process.” The ATSP license is valid for a four-year period and allows BMM to provide Testing and Certification services in Singapore, Melbourne, Sydney and North...
Read MoreBMM Testlabs – innovation, excellence and expertise at G2E 2014
BMM Testlabs is pleased to announce it will be exhibiting at the Global Gaming Expo in Las Vegas, September 30th – October 2nd. Expert staff and executives from BMM’s global locations will be on hand to discuss compliance and testing services for both land-based and online clients during the three-day event. BMM staff will also be available to discuss specialist services for operators and regulators including BMM’s training and education program: the BMM Academy. Martin Storm, BMM’s President & CEO commented “2014 has been a record year for BMM globally. As we continue to broaden our skills and capabilities in compliance technology and software we have also expanded our testing facilities in America, Europe and Asia. We opened offices in Bologna and Vienna earlier this year and have recently added 10,000 square feet to our testlab in Las Vegas.” Storm continued “The expansion at the Las Vegas Headquarters houses a specially designed customer facility, a dedicated interoperability infrastructure, a studio for BMM’s software development team and the capacity for an additional 100 testing engineers.” Travis Foley, EVP Operations – Americas, commented on BMM’s presence at G2E “We are very much looking forward to exhibiting at this year’s show and appreciate the opportunity to showcase some of BMM’s newest tools and technology. Staff will be demonstrating the new BOAT – BMM Online Approval Technology as well as the BMM Signatures tool. We encourage all regulators, manufacturers and operators to visit the BMM booth to discuss how BMM can support their objectives.” Visit BMM Testlabs, booth #2423, G2E Las Vegas, September 30 – October 2,...
Read MoreBMM Testlabs Announces Seal of Excellence – G2E 2014
BMM Testlabs is pleased to announce it will be releasing the new ‘BMM Certified’ logo at the Global Gaming Expo in Las Vegas, September 30th – October 2nd. The new logo can be used by customers on products that have been certified by BMM. Wendy Anderson, Chief of Staff – BMM International commented “The new ‘BMM Certified’ logo represents a ‘seal of excellence’ to let regulators and operators know that a manufacturer’s product has been certified by BMM. BMM’s expertise and commitment to quality ensure that customers using this new marque have experienced the highest level of compliance services in the industry.” The logo will be available for BMM customers to use in conjunction with their BMM Certified products, following the show. Visit BMM Testlabs, booth #2423, G2E Las Vegas, September 30th – October 2nd, 2014. BMM will be providing Testlab and Headquarter tours throughout the G2E week. Tours take approximately one hour and can be booked by contacting Jodi DiLascio by email at...
Read MoreBMM Testlabs announces Louise Dionne, Business Development Manager – Lotteries
BMM Testlabs is pleased to welcome Louise Dionne, Business Development Manager, Lotteries to the organization. Louise Dionne comes to BMM with 8 years of gaming experience and an in-depth knowledge of the lottery industry. Drew Pawlak, SVP Business Development Americas commented “We are very pleased to have someone of Louise’s caliber join our team. Her expertise in the Lottery sector is invaluable and Louise is already proving a great asset for both BMM and our clients.” Fluent in both English and French, Dionne started her gaming career with the Atlantic Lottery Corporation in business development, later transitioning into a management role developing and managing merchandising strategy. Following ALC Dionne moved to Lottotech in Mauritius, Africa where she developed and lead the implementation of the retail growth strategy from both a sales and marketing perspective. Louise Dionne serves as BMM’s key contact for lottery gaming, identifying opportunities and new services for lottery operators & vendors. Dionne commented “My role at BMM Testlabs involves managing key accounts and working closely with clients, including the Atlantic Lottery Corporation. The standard of service BMM provides to the ALC is incredibly high and I am looking forward to being a part of this team.” Byron Bridger, Director Marketing /Destination for the Atlantic Lottery commented, “Working with BMM over the last three years, we have always been pleased with the quality of both the work executed and the time within which work is completed. Most recently, BMM showed exceptional flexibility and patience as we worked through a very complicated end-to-end system and VLT replacement project. The value proposition for ALC is strong with a high quality team providing on-time work with great service and we look forward to a continued working relationship with Louise and...
Read MoreThe Importance of Performing Regularly Scheduled Audits – Currency Transactions Reporting (CTR)
Currency Transactions Reporting (CTR) by Nichole Karr, Audit Manager Currency transaction reporting (CTR) requirements, including record-keeping, were established decades ago to help ensure individuals were not able to perform money laundering transactions, also known as making “dirty” money from illegal acts into “clean” money, by giving the appearance it was earned legally. Casinos were a great place to try and create money laundering transactions, due to the opportunity and large amounts of influx and output of cash, so casinos, including tribal casinos, were not exempt from following the FINCEN and IRS CTR and record-keeping requirements. As the years have passed and more individuals and businesses are conducting illegal activities, FINCEN has updated and changed their CTR requirements. As with any regulations, updates are always necessary to ensure the most effective and efficient ways of reporting transactions are being implemented. Because of these updates, it’s important to audit the current practices to ensure the new regulations and requirements are properly incorporated into the current operating procedures. Since all casinos must have written internal controls and standard operating procedures, having a CTR compliance program is no exception and is a requirement per FINCEN. This program should include internal controls designed to ensure and monitor ongoing compliance with the federal requirements. Additionally a well designed program should ensure adequate training is provided to all casino personal which includes identifying suspicious or unusual transactions. The frequency of the training and the type of training varies based on the risk associated with potential money laundering. Potential training would include quarterly, semi-annual, or annual review of the FINCEN requirements followed by a quiz to ensure employees understand the requirements. As with all internal control procedures, auditing for compliance is a must, as well as a requirement by FINCEN. Per the Electronic Code of Federal Regulation, §1021.210(2014, August 7), “internal and/or external independent testing for compliance is required of the compliance program. The scope and frequency of the testing shall be commensurate with the money laundering and terrorist financing risks posed by the products and services provided by the casino.” The testing or auditing can be done by and should be done by a variety of individuals including regulators, internal auditors, and casino management. Having different types of reviewers/auditors of the information ensures that the information is understandable by a diverse group of people and helps to ensure that all possible interpretations are addressed. The audit review process should include the following: Review of the documented compliance program and comparison to the FINCEN regulations to ensure all requirements are addressed. Review of the training program to ensure vital information is outlined and includes real life examples for employees to comprehend. Review of the current CTR quiz to ensure there are sufficient questions to test the employees’ knowledge of the CTR requirements. Review of a sample of active employees to ensure their training and quizzes are adequately documented, including dates and scores. Review of submitted CTR forms to ensure they are completed properly and filed in a timely manner. Review of sample days of the CTR audit to ensure internal audit documentation is sufficient, includes all possible CTR areas in the casino, and is retained. The quantity of information that needs to be audited in the steps outlined above will be influenced by the level of risk a casino might experience with regards to money laundering activities. That risk will also dictate how often an audit needs to be conducted. Generally, regulators should be reviewing this information annually while casino management or internal auditors should be conducting semi-annual audits. While CTR requirements are not controlled by gaming regulators, it...
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