Keeping up with AML compliance changes ‘increasingly feels like a losing battle’ – CEO Daniel Gambin

Daniel Gambin, CEO and Co-Founder of newly-formed Letzz, has remarked that over the years, keeping up with the wide array of changes to anti-money laundering (AML) and responsible gaming (RG) compliance has become increasingly difficult.

His comments came in a post on Tuesday (today) to mark a month since he left iGaming firm Kindred Group plc, where he had served as Director of Business Performance and Transformation, as well as Director of Player Sustainability (Customer Risk Operations).

During that period, he built and led a global team responsible for customer risk across 20 jurisdictions, handling AML and RG compliance and operations. Together with the team, he also owned the registration, verification, and payment journeys and product for every customer, with this ranging from “first-time depositors to the high-value customers wagering thousands.”

However, he acknowledged that many who have worked in the industry for quite some time know that “meeting the constant – and often incredulous – changes in this area increasingly feels like a losing battle.”

Mr Gambin remarked that his role at Kindred Group was not just about managing customer risk in a compliant manner, but it also focused on “ensuring that compliance had the least possible impact on revenue and profits, therefore ensuring market sustainability.”

“With multiple regulators constantly changing how they view and address this area, this was extremely challenging to say the least,” he affirmed.

Among these widespread changes, there is also the creation of the AML and Countering the Financing of Terrorism Authority (AMLA), a new EU authority that seeks to transform supervision in the area and also enhance cooperation among financial intelligence units.

Mr Gambin said that he had stayed at Kindred Group for over five years, despite the challenges posed by constant regulatory changes, mainly because of the belief of “turning obstacles into opportunities” and to always find a better way of doing things. “During this turbulence, I learnt that combining this philosophy with the right information, the right stakeholders, and the right technological resources means that operators can still innovate and gain an edge,” he added.

As a result, together with Predrag Spasojevic, he co-founded Letzz, a payments solutions company. “We see ourselves as an extension of your payment, verification, and compliance products, one that is completely focused on increasing your revenue and slashing costs,” Mr Gambin explained.

Mr Gambin is a seasoned professional in the iGaming space, having worked with a number of companies in various positions. Over the past 15 years, he states that he has scaled up high-performing global teams handling multiple volatile, uncertain, complex, and ambiguous problems.