Section 238.14 - Risk Management Framework(1) A Sports Wagering Operator must implement risk management procedures. These procedures may be provided in-house by a unit capable of performing this function with appropriate segregation of functions and reporting duties, or by a licensed Sports Wagering Vendor.(2) A system of Internal Controls submitted by a Sports Wagering Operator in accordance with 205 CMR 238.02 shall contain a description of the risk management framework, including, but not limited to: (a) Automated and manual risk management procedures;(b) Employee management, including access controls and segregation of duties;(c) Information regarding identifying and reporting fraud and suspicious conduct;(d) Controls ensuring regulatory compliance;(e) Description of Anti-Money Laundering (AML) compliance standards;(f) Description of all software applications that comprise the Sports Wagering Equipment;(g) Description of all types of Sports Wagers available to be offered by the Sports Wagering Operator;(h) Description of the method to prevent past-post Wagers from being placed;(i) Description of all integrated third-party platforms; and(j) Any other information which may be required by the Commission.(3) A Sports Wagering Operator shall file with the Commission, in a manner and form approved by the Commission, a report of any error that occurs in offering an event or Wager or if an unapproved Sporting Event or Wager category is offered to the public.Adopted by Mass Register Issue 1486, eff. 12/21/2022 (EMERGENCY).Amended by Mass Register Issue 1492, eff. 3/9/2023 (EMERGENCY).Amended by Mass Register Issue 1494, eff. 3/9/2023 (COMPLIANCE).Amended by Mass Register Issue 1498, eff. 6/7/2023 (EMERGENCY).Amended by Mass Register Issue 1503, eff. 6/7/2023 (COMPLIANCE).Amended by Mass Register Issue 1523, eff. 6/7/2024.