Global Gaming & Hospitality and Morowitz Gaming Advisors have entered into a strategic alliance with K2 Intelligence to provide anti-money laundering (AML) and Title 31 compliance services to casinos, and will be available at this week’s Global Gaming Expo to demonstrate the services.
K2 Intelligence is an industry-leading investigative, compliance and cyber-defense services firm, providing independent expert casino anti-money laundering (AML)/Title 31 audit, compliance and ongoing services to the global casino industry. The recent increased regulatory scrutiny being placed on the casino industry and resulting high-profile enforcement actions have made this alliance both timely and highly valuable for industry stakeholders.
“Compliance with AML/Title 31 and financial crimes risk laws has become a major new area of risk management and increasingly difficult challenge for casinos to address over the last few years,” said Michael Kim, GGH managing partner. “Recent experience has informed us that a ‘check-the-box’ approach designed to meet minimum regulatory requirements or attempts to comply ‘just in time’ to satisfy such requirements are insufficient, as even the smallest casinos must accept the reality that they will be subject to much of the same increasing regulatory scrutiny facing many larger banks and more sophisticated financial institutions.”
“The need for casinos to have an ongoing, independent third-party audit and assessment of their AML/Title 31compliance policies and procedures, along with instituting a comprehensive program for identifying, resolving and proactively addressing these issues going forward has become a critical consideration for casino owners, investors, directors and senior management alike,” added Hal Crawford, managing director of K2 Intelligence.
K2 Intelligence specializes in AML and regulatory compliance, analysis, fraud and forensic services for Fortune 500 companies globally operating in highly regulated industries. K2 Intelligence provides these clients with critical expertise necessary to streamline and maximize the effectiveness of their AML programs in order to mitigate reputational and regulatory risk.
GGH’s professionals, led by its Managing Partners Michael Kim, Cory Morowitz and Carlton Geer, have collectively 100-plus years of relevant gaming industry advisory, operational, finance and investment experience, including dealing with complex operating, licensing and regulatory compliance situations.
Senior partners of GGH and K2 Intelligence will be available throughout G2E to discuss specifically how this alliance can benefit existing and prospective clients. To schedule an appointment with them during G2E, please contact, on behalf of GGH, Cory Morowitz at cory@morowitzgaming.com or 609-226-9426, or Michael Kim at michael.kim@gghsp.com or 917-509-2975. On behalf of K2 Intelligence, contact Hal Crawford at hcrawford@k2intelligence.com or 516-508 0198, Tom Bock at tbock@k2intelligence.com or 917-243 7304 or Joe Deluca at jdeluca@k2intelligence.com or 908-309 9770.
