KYCOS recently introduced its services to the e-gaming industry. Please let us know if you’re interested in KYCOS CEO John Bourbon’s thoughts on the Australian market. – Sloan MacRae, BOLDE Communications & Public Relations, 212-727-1680
Media Advisory:
NOTED BANKING AUTHORITY AND KYCOS CEO JOHN BOURBON TO DISCUSS CHALLENGES TO I-GAMING PRESENTED BY PROLIFERATING INTERNATIONAL
ANTI-TERRORIST, ANTI-MONEY LAUNDERING REGULATIONS
AT THE PACIFIC CONGRESS ON I-GAMING
MARCH 1-3, STAR CITY HOTEL & CASINO, SYDNEY, AUSTRALIA
WHO: John Bourbon, an internationally respected banking authority influential in the development of international anti-terrorist due diligence regulations, as well as former Managing Director of the Cayman Islands Monetary Authority and now CEO of KYCOS Ltd, a provider of enhanced due diligence, anti-money laundering compliance services.
WHAT: Roundtable discussion of anti-money laundering compliance issues facing the Australian and Asian I-gaming markets at the Pacific Congress on I-Gaming, Star City Hotel & Casino, Sydney. [See www.rivercitygroup.com/pcig/ for further information. ]
WHEN/WHERE: 4:30p.m., Tuesday, March 2, 2004 in the Harbour Ballroom #3.
Mr. Bourbon is available throughout the conference to discuss the implications for the
i-gaming and financial services industries of the growing raft of international anti-money laundering regulations, as well as what may be ahead for Australia in the wake of recently declared government intentions to increase regulation. (See below)
BACKGROUND: This past December, the Australian Ministry for Justice and Customs announced that in an effort to comply with the Financial Action Task Force’s revised Forty Recommendations, casinos and gaming providers will soon have new customer due diligence and reporting obligations in order to assist with the detection and prevention of money laundering.
Based in the Isle of Man and the Cayman Islands, KYCOS offers what may be the most highly advanced compliance program for i-gaming companies facing growing worldwide anti-terrorist and anti-money laundering regulations. Incorporating outsourced due diligence and identity verification, the system increases the speed of payment to winning customers, enabling i-gaming companies to enhance their relationship with high value clients. The company launched its services in October.
John Bourbon, CEO of KYCOS, is a former banking regulator who played a key role in the development of the much acclaimed Basel Customer Due Diligence Paper, published in 2001 by the Bank for International Settlements (BIS), considered influential in helping to shape the thinking behind the USA Patriot Act. From 2000 until 2002, Mr. Bourbon was Managing Director of the Cayman Islands Monetary Authority (CIMA), where he was credited with improving regulatory compliance and overseeing the removal of the jurisdiction from the Financial Action Task Force (FATF) list of non-cooperative countries and territories.
Reporters and Editors please note: Journalists who wish to talk with Mr. Bourbon should contact Elizabeth Ames at BOLDE Communications, 01-212-727-1680 or 01-646-236-6484; eames@boldepr.com.
|