Betway pushes for zero tolerance for money laundering

Dr. Kweku Ainuson, taking part in a discussion at the Mobex Tech Expo 2019

As part of the global drive to fight money laundering along with its negative socio-economic effects on societies, the Director and Company Secretary, of Betway Ghana, Dr. Kweku Ainuson, has called for stringent regulations in the mobile money industry as far as the sports betting industry is concerned.

He noted that a well-regulated mobile money sector would enhance the rapid growth of e-commerce in Ghana and boost the confidence of key players in the sector.

Dr. Ainuson, who joined other panelists at the Mobex Africa Tech Expo 2019, to discuss mobile money and its regulations in e-commerce, disclosed that 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.

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“Such suspicions will be investigated thoroughly and actions will be 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.”

The Betway Group is a leading provider of first-class entertainment across sports betting and casino. Launched in 2006, the company operates across a number of regulated online markets and holds licences in Kenya, Uganda, Ghana, South Africa, Zambia, Mozambique, and Nigeria.

Betway prides itself on providing its customers with a bespoke, fun and informed betting experience, supported by a safe and secure environment.

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