Africa’s gambling industry is racing ahead, outpacing the very systems meant to keep it in check.
The issue came under the spotlight this week at a high-level panel discussion in Kenya on gambling, financial crime and regulation in Africa’s gaming sector. Experts from across the industry examined the growing threat of money laundering and illicit financial flows. But they also cautioned against painting the entire gambling industry with the same brush. Gambling, they argued, should not automatically be equated with money laundering. The focus should instead be on stronger, risk-based regulation and closer cooperation between regulators, banks, payment providers and gaming operators.
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