A Bermudian firm specialising in compliance and anti-money laundering has been signed up by the Bermuda Casino Gaming Commission.

ADL Compliance will work to make sure that the gambling industry on the island is clean.

Lanan Bascome, manager of ADL, said it was “humbling and gratifying” to get the chance to work in “such an exhilarating industry as gaming from ground up as it develops”.

She added: “Our enthusiasm was only enhanced by the fact that, from our very first meeting, the Commission and its staff have been most welcoming.

“From the outset they made us feel like part of the team and we that this would be a great organisation to collaborate with.”

ADL has already carried out stringent background checks on people involved in the local gambling industry, including criminal, civil and credit checks, media and social media vetting as well as investigations into professional and social contacts and employment history.

Ms Bascome said: “These background checks are of paramount importance because people employed in or working with the casinos and gaming industry in Bermuda will have access to financial assets and complex technology.

“As much as we can, we endeavour to ensure that these persons are honest. As the regulator, it is the Commission’s job to safeguard the industry from any possibility of corruption and robust employee vetting goes a long way towards that end.

“These protections will help Bermuda not only build a reputation in gaming but will also help safeguard our island’s hard-earned, distinguished reputation in international business and finance generally.”

Ms Bascome has more than a decade of financial industry experience, having worked for Government, HSBC, the Bank of Butterfield and the Bermuda Monetary Authority.

ADL is a consultancy which handles compliance, operational risk management, anti-money laundering and antiterrorist financing.

Staff at the firm have already signed up for classes at the University of Nevada in the US gambling capital Las Vegas involving regulation and background investigations into casinos.

Ms Bascome said: “As casinos are new to Bermuda, we believe it is key that we also understand the casino business. This understanding will make the application of our compliance expertise more pointed and effective.

“We consider the development of a vigorous compliance framework to be a vital step towards ensuring Bermuda succeeds in casino gaming.

“To that end, we are dedicated to doing our part to help Bermuda to develop an internationally respected gaming industry that will eventually place Bermuda in company with other jurisdictions that are regarded as the gold standard.”

Richard Schuetz, executive director of the Bermuda Casino Gaming Commission, said the organisation aimed to work with local businesses as much as possible.

He added: “This firm in particular impressed us with their experience and expertise in providing services to a variety of regulated industries including law and accounting firms, banks, trust companies, investment firms, reinsurance and insurance companies.”

And he said that local expertise would be invaluable in ensuring that gambling in Bermuda was properly managed and remained crime-free.

Ms Bascome added: “It will also ensure that Bermudians are educated about the industry and fully trained so that eventually the proverbial training wheels can be taken off and we can successfully run it as our own.

“In our view, the Commission’s decision to work with Bermudian-based firms will help to make the gaming industry sustainable and in doing so ensure employment opportunities for Bermudians in gaming, at all levels, for generations.”