Buenos Aires City lottery (LOTBA) has completed an independent external review of its Money Laundering and Terrorism Financing Prevention System (PLAFT).
The measure is as required under regulations from Argentina's Financial Information Unit (UIF) for the gambling sector.
“This is the first external review of these characteristics that entities in the sector are going through, an unprecedented experience that represents an important step in strengthening our policies, processes and control mechanisms,” stated the company.
“The process was a challenge for the entire organization and required the coordinated work of different areas, consolidating internal procedures and reinforcing prevention and compliance tools.”
Recently, LOTBA introduced an artificial intelligence program aimed at modernizing operational management and improving internal process efficiency, positioning the organization among the first lottery operators globally to adopt an institutional AI strategy.
The review required coordinated work across multiple areas of the organization, consolidating internal procedures and reinforcing compliance and prevention tools.
Participants included LOTBA Compliance Officer and Director Ezequiel Domínguez, Carolina Galtieri, head of the Money Laundering and Terrorism Financing Prevention Unit, specialized internal teams, and independent external reviewer Francisco D'Albora.
“For us, prevention and transparency are fundamental pillars of our management,” concluded LOTBA.
“Submitting our processes to an independent review allows us to strengthen the standards with which we work, identify opportunities for improvement and continue to consolidate an institutional culture based on integrity, responsibility and public trust.”
The regulator also presented its digital prevention strategy for minors and its enforcement plan against illegal gambling to the Strategic Planning Council, developed alongside the Specialized Prosecutor's Office for Gambling.
The Buenos Aires City Legislature has approved a law banning people listed as delinquent on child support payments from opening or holding accounts on licensed online gambling platforms
