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Can you summarize MDCR 36.10.13.03?
Sports Wagering Licensee Minimum Internal Control Standards > Content of Internal Controls.
Short Summary
This document outlines the minimum internal control standards that sports wagering licensees in Maryland must adhere to. It requires sports wagering licensees to submit internal controls for approval by the Commission prior to commencing sports wagering or making any subsequent changes. The internal controls must include administrative controls, accounting controls, user access controls, procedures for ensuring accurate communication of activities and financial details, segregation of duties, surveillance and security measures, and more. The document also covers procedures for bettor registration, account management, fund withdrawals, protection of funds, security of personally identifiable information, reporting of fraudulent activity, risk management, compliance with anti-money laundering standards, and handling of system malfunctions. The Commission reviews and approves the submitted controls to ensure compliance with the requirements. Additionally, sports wagering licensees are required to maintain a catalog of events and wager types and notify the Commission of any changes to the catalog. Overall, the document aims to establish effective controls and protocols for the conduct of sports wagering in Maryland.
Whom does it apply to?
Sports wagering licensees
What does it govern?
Sports wagering licensee minimum internal control standards
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Penalties for non-compliance or violation of the internal control standards are not specified in the provided document.
Jurisdiction
Maryland