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Can you summarize TNRR Section 1350-03-.06?
Minimum Internal Controls > IDENTIFYING AND REPORTING FRAUD AND UNUSUAL AND SUSPICIOUS ACTIVITIES
Short Summary
This document, part of the Rules and Regulations of the State of Tennessee, specifically the Tennessee Sports Wagering Council’s Minimum Internal Controls Emergency rules effective from July 1, 2023, through December 28, 2023, outlines the requirements for licensees involved in interactive sports gaming to have integrity monitoring system procedures in place. These procedures should enable the identification and reporting of unusual and suspicious wagering activity. Licensees are required to submit reports of such activity to the Council and share information with other licensees through an Independent Integrity Monitoring Association. If previously reported unusual wagering activity rises to the level of suspicious wagering activity or if an activity constitutes suspicious wagering activity, the licensee must immediately notify the Council. The document also specifies various types of unusual and suspicious activity that should be monitored and reported, including attempts to violate laws, violations of anti-money laundering laws, unusual betting behavior or patterns, and unusual volumes of betting. Additionally, licensees must submit an annual report detailing their integrity monitoring services and activities. The document emphasizes the confidentiality of the information shared with the Council, except in specific circumstances. Licensees may be required to provide remote access to the Council for evaluation or monitoring purposes upon request. The document cites the relevant sections of the Tennessee Code Annotated that grant the authority for these rules.
Whom does it apply to?
Licensees involved in interactive sports gaming in the State of Tennessee
What does it govern?
Identifying and reporting fraud and unusual and suspicious activities in the context of sports wagering
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Tennessee