LexisNexis® Risk Solutions Can Now Service New Jersey Gaming Sector
4/8/2015
High-growth online gaming industry now has access to award-winning technology, data and analytics to better comply with Know Your Customer Regulations
ATLANTA - Today LexisNexis® Risk Solutions announced that its application has been accepted by the New Jersey Department of Gaming Enforcement so that it can offer identity and age verification services to online gaming operators in New Jersey.
"Identity management is a key component of online gaming platforms. It's necessary to comply with state online gaming regulations and to facilitate Know
Your Customer (KYC) for Title 31 compliance," explained Rick Trainor, CEO, Business Services, LexisNexis Risk Solutions. "By accepting our application, New Jersey is ensuring that gaming companies have
access to the same data and analytics used by some of the world's largest banks, online retailers and other businesses that depend on our data and
analytics to enable them to meet anti-money laundering (AML) compliance
obligations and prevent fraud."
The gaming marketplace demand for integrated KYC solutions is increasing. Online gaming generates approximately US$30-35 billion globally
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and continues to be one of the fastest growing segments of the global gaming market. As more states in the U.S. establish regulatory frameworks for online
gaming, the segment is poised for rapid expansion in the next five to 10 years.
LexisNexis has deep experience and a rich history of providing KYC compliance services to the gaming industry. It has been advising and creating solutions
for brick-and-mortar gaming companies for more than a decade, helping casinos stay in compliance with complex industry regulations. In addition, global
gaming companies turn to LexisNexis to gain assistance with identity verification
and authentication, credit decisioning, and customer database management.
Fredric Gushin, a former New Jersey Division of Gaming Enforcement assistant director and now managing director of the Spectrum Group, said: "The integrity
of Internet wagering depends upon the ability of operators to verify that the person playing online is of legal age, resides within the legal jurisdiction,
and actually is the person they claim to be. LexisNexis has developed reliable KYC technology that enables regulators to maintain complete confidence that
operators are enrolling qualified players and guarding against the dangers of underage gambling, fraud, and money laundering on the Internet."
About LexisNexis Risk Solutions
LexisNexis Risk Solutions is a leader in providing essential information that helps customers across industries and government predict, assess and manage
risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk
Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and
privacy. LexisNexis Risk is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
Media Contact
Jean Creech Avent
Director Corporate Communications, Media and Analyst Relations
LexisNexis Risk Solutions
770-862-7978
jean.creech@lexisnexis.com