The betting industry is evolving rapidly as new standards are set by international bodies and technically sophisticated players turn their attention to the lucrative sector. With new rules and regulations aiming to increase transparency, reduce fraud, and increase consumer protections, the industry’s standards for good conduct have evolved to ensure safe and fair practices. The key regulations governing betting include Know Your Customer (KYC) procedures, anti-money laundering (AML) regulations, taxes, customer licensing and dispute resolution. Additionally, there are a number of sector specific standards and protocols, such as AML for Forex that are designed to protect investors in the lucrative sector. By establishing these industry standards, the industry is ensuring a safe and secure environment for all its participants.