N.Y. Comp. Codes R. & Regs. tit. 9 § 5329.8

Current through Register Vol. 46, No. 45, November 2, 2024

Section 5329.8 - Internal controls

(a)Submission and requirements.

Each operator shall submit to the commission for approval internal controls for all aspects of sports pool wagering operations prior to commencing operations. Such internal controls shall address the following items in regard to the sports pool system, at a minimum:

(1) user access controls for all sports pool personnel;

(2) segregation of duties;

(3) automated and manual risk management procedures;

(4) procedures for identifying and reporting fraud and suspicious conduct;

(5) procedures to prevent wagering by patrons prohibited from wagering;

(6) description of anti-money laundering compliance standards;

(7) description of all types of wagers available to be offered;

(8) description of all integrated third-party systems;

(9) procedures for the reconciliation of assets and documents contained in the wagering cashier drawers and automated ticket machines, which shall provide for the reporting of any overage or shortage; and

(10) in the event of a failure of the sports pool's ability immediately to pay winning wagers, the licensee shall have internal controls detailing the method of ultimately paying winning wagers. The licensee also shall file an incident report for each system failure and document the date, time and reason for the failure along with the date and time the system is restored with the commission.

(b) Reconciliation.

The internal controls shall detail the reconciliation of assets and documents contained in a sports wagering lounge cashier's drawer.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5329.8

Adopted New York State Register June 26, 2019/Volume XLI, Issue 26, eff. 6/26/2019