Spectrum Founder To Speak On Topic At International Gaming Summit In London
HORSHAM, Pa. Nov. 29
The National Fraud Center, Inc. (NFC) announced today that it is joining forces with the internationally recognized consulting firm Spectrum Gaming Group to help governments and gaming companies regulate gambling on the Internet.
"This is an area of increasing concern for everyone involved in the gaming and Internet industries,'' said William R. Kisby of the National Fraud Center's Investigation Division and former Unit Supervisor with the Casino Intelligence Unit of the New Jersey State Police. "Online gaming is one of the most rapidly expanding areas of Internet commerce and it also is one of the most difficult to control.''
The NFC and Spectrum have conducted joint investigations in the gaming area over the past few years and the extension into online gaming is a product of those collaborations. The NFC is a founding member of the Internet Fraud Council and has extensive expertise in online fraud and risk management.
"Online gaming generally involves cutting edge technology and that is where NFC's expertise in the Internet is so valuable,'' said Fredric E. Gushin, former assistant director and assistant attorney general with the New Jersey Division of Gaming Enforcement and founder of Spectrum. "At the moment there is not even a consensus among governments on how the industry will be regulated. For example, the United States wants to prohibit online gaming while the rest of the world is moving toward regulation. Even if a country does prohibit it, how do you enforce it?''
Online gaming is expected to be at least a $25 billion market by 2002, according to gaming industry analysts, and regulation has become an international topic of discussion. In fact, Gushin will be a featured speaker at the Third Annual International Symposium on Internet Gaming Law and Management, in London this week.
"This alliance with Spectrum gives the NFC access to resources and expertise that will allow us to significantly expand our presence in the gaming industry,'' said Kisby. ``There is a tremendous need among both governments and gaming operators for the services that we can now deliver.''
Gushin and Kisby said the two companies initially would focus their efforts in two areas:
providing regulatory services to governments such as due diligence, auditing
and other typical services in order to help regulate gaming, and
working with Internet gaming companies on self-regulating the industry.
"Legitimacy and credibility are two important issues that need to be addressed,'' added Kisby. "We've already seen people who were rejected for casino or gaming licenses set up business on the Internet. By providing audits, testing games and software, conducting background checks and other regulatory services, we can create a level of confidence that these games are conforming to whatever standards are established by governing bodies.''
About Spectrum Gaming Group
Spectrum Gaming Group, founded in 1993, is a full service international gaming consultancy offering a variety of services to casino owners, developers, operators, regulators and Indian gaming commissions. Spectrum, headquartered in Pennington, N.J., also has offices in Bangkok, Thailand and Hong Kong.
About National Fraud Center
The National Fraud Center was established in 1982 to address society's growing concern for insurance fraud and today is recognized worldwide as a leader in combining decades of expert experience with the latest technology to help businesses, consumers and government agencies save millions of dollars by minimizing their exposure to costly fraud and risk issues.
Melanie Carroll, 940/321-5502