Gaming Realms subsidiary inks fraud-prevention partnership with HooYu
Company will provide increased scrutiny on source-of-funds and due diligence issues
Bear Group Limited, the Alderney-based subsidiary of Gaming Realms, has signed a partnership deal with compliance and fraud prevention specialists HooYu Investigate.
Under the terms of the partnership, Bear Group will utilise HooYu Investigate technology to conduct enhanced due diligence and investigate sources of funds used in gambling transactions, in a bid to prevent collusion and fraud.
HooYu will bring together all the relevant data on a customer into a single graph, enabling a holistic view at all known connections to the individual such as home addresses, previous and current co-habitants, property ownership, and business shareholdings and directorships. The data on the graph can be tracked and used in subsequent fraud investigations.
In addition to fraud prevention, the HooYu investigations software enables Bear to see where their existing compliance processes are inefficient and can be improved.
Dominic Blackburn, product director for HooYu Investigate, said: “We help operators to discover Non-Obvious Relationship Awareness (NORA) information about customers at a click, helping with investigations into source of funds, problem gambling, collusion, multiple accounts and fraud rings. Bear Group now have a unique and intuitive way to visualise their customers, meaning that investigators are now able to really get inside the information, and can discover and learn much more than was previously possible.”
Bear Group operates the Slingo, SpinGenie, PocketFruits and Britain’s got Talent games and operates with category 1 and 2 licences from the Alderney Gambling Control Commission.
Ben Nichols, head of payments and compliance at Bear Group Ltd, added: “The first thing we noticed when initially testing HooYu Investigate is how highly intuitive it is to use.
“The visual interface enables us to see all the information and discover connections and data about individuals that would normally go undiscovered. It also gives us access to a lot of the data sources we would use in one application, this means that our KYC checks are now more in-depth and faster to conduct.”