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Can you summarize 9 NYCRR 5329.8?
Sports Wagering > Internal controls.
Short Summary
This document governs the submission and approval of internal controls for all aspects of sports pool wagering operations. It applies to operators of sports pool wagering operations. The internal controls must address various items related to the sports pool system, including user access controls, segregation of duties, risk management procedures, fraud and suspicious conduct reporting, prevention of wagering by prohibited patrons, anti-money laundering compliance standards, types of wagers offered, integrated third-party systems, reconciliation of assets and documents in cashier drawers and automated ticket machines, and procedures for paying winning wagers in case of system failure. The operators are also required to file incident reports for system failures. The internal controls should also detail the reconciliation of assets and documents in a sports wagering lounge cashier’s drawer.
Whom does it apply to?
Operators of sports pool wagering operations
What does it govern?
Internal controls for all aspects of sports pool wagering operations
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New York