The gambling industry is no exception to compliance to Broad-Based Black Economic Empowerment (B-BEE) as outlined by government. As a result, B-BBEE targets were set for the industry by the regulators. The GRB is monitoring the progress in implementing B-BBEE in the industry and reports on such progress in order to make any necessary interventions and to ensure that this transformation is realized. The GRB is also spearheading the process of ensuring that the entire industry achieves a level 2 B-BBEE status in terms of the Department of Trade and Industry’s Code of Good Practice.
The gambling regulators enforce the gambling legislation in the industry in conjunction with a number of other law enforcement agencies namely the US Police and the National Prosecution Authority. The role that regulators play is to serve as an intelligence/information gathering hub, complainant and expert in the field of gambling and the gambling legislation. This necessitates collaboration with the respective law enforcement agencies to ensure compliance to legislation. The GRB is part of national law enforcement task team that ensures compliance to legislation.
All the above is done through regular meetings, with the FIC, participating in the Money Laundering Advisory Council (MLAC) that advises the Minister, participating in working groups of the MLAC, conducting inspections, legislation review and inputs to the FIC, and interaction with all relevant parties to combat money laundering and financing of terrorism.