Risk Management Framework

A Sports Wagering Operator must implement risk management procedures. These procedures may be provided in-house by a unit capable of performing this function with appropriate segregation of functions and reporting duties, or by a licensed Sports Wagering Vendor. 205 CMR 238.02 shall contain a description of the risk management framework, including, but not limited to: (a) Automated and manual risk management procedures; (b) Employee management, including access controls and segregation of duties; (c) Information regarding identifying and reporting fraud and suspicious conduct; (d) Controls ensuring regulatory compliance; (e) Description of Anti-Money Laundering (AML) compliance standards; (f) Description of all software applications that comprise the Sports Wagering Equipment; (g) Description of all types of Sports Wagers available to be offered by the Sports Wagering Operator; (h) Description of the method to prevent past-post Wagers from being placed; (i) Description of all integrated third-party platforms; and (j) Any other information which may be required by the Commission. A Sports Wagering Operator shall file with the Commission, in a manner and form approved by the Commission, a report of any error that occurs in offering an event or Wager or if an unapproved Sporting Event or Wager category is offered to the public.