Eleni Panagiotopoulou, SOFTSWISS: “AML is no longer just a compliance obligation, it’s becoming a business enabler”

From rising transaction speeds to expanding regulatory scrutiny, AML is becoming a central operational challenge for igaming operators. SOFTSWISS Head of AML Eleni Panagiotopoulou discusses the role of AI, automation and smarter controls in managing risk.

Exclusive interview.- As igaming continues to expand into regulated markets and real-time payments become the norm, anti-money laundering is moving from a compliance checkbox to a core business capability. In this exclusive interview with Focus Gaming News, Eleni Panagiotopoulou, head of AML at SOFTSWISS, reveals why AML is becoming more operationally demanding, how AI is changing early risk detection, and what operators should focus on heading into 2026.

AML has become a much more visible topic in igaming over the past few years. What’s driving this shift?

The industry has reached a point where scale and speed have fundamentally changed the risk landscape. igaming today operates with huge volumes of fast, low-value transactions across multiple payment methods and jurisdictions at the same time. This makes AML more complex than it was a few years ago.

On top of that, regulators are paying closer attention to operators – they want to see that control measures are actually effective in practice. So AML is no longer something you can keep in the background. It directly affects how smoothly your business runs, how regulators view you, and how much trust players have in your brand.

“AML is no longer something you can keep in the background. It directly affects how smoothly your business runs, how regulators view you, and how much trust players have in your brand.”

Eleni Panagiotopoulou, head of AML at SOFTSWISS.

From your perspective, what is the biggest AML-related pain point operators are struggling with today?

It’s not one single regulation or one specific rule. The real challenge is the combination of scale, speed, and fragmentation. Operators are dealing with many markets at once, each with different AML expectations, reporting timelines, and data sources. At the same time, transactions are happening instantly and around the clock.

This makes it very hard to spot new or evolving laundering schemes quickly without either overwhelming teams with false positives or disrupting legitimate players. Striking that balance is where most operators struggle.

SOFTSWISS reported a 75 per cent increase in suspicious activity reports this year. How should operators interpret this spike?

A rise like that usually points at two things happening at once. Either criminals are more actively targeting the channel, or detection and reporting have improved – or both.

What’s important is not to treat such numbers as just noise. A spike in suspicious activity should trigger a deeper review. Are alerts high-quality? Can teams handle the workload? Are new payment methods or account takeover patterns involved?

Anyway, suspicious activity data is a signal we can’t ignore. It’s an opportunity to strengthen controls before regulators or criminals force that conversation.

Many companies still rely heavily on manual AML processes. What risks does this create as businesses scale?

Manual processes simply don’t scale well. They’re slower, less consistent, and much more prone to human error. Some patterns only become visible when you look across thousands of transactions or accounts, and that’s something we humans can’t do efficiently.

The result is often high false-positive rates or delayed detection. Besides immediate financial losses, this increases regulatory and reputational risks. Automation and real-time analytics are no longer optional for businesses that want to grow safely.

According to your 2026 iGaming Trends Report, AI plays a significant role in AML services now. Where does it deliver the most value?

AI is most powerful when it helps detect patterns that humans and rule-based systems simply can’t see. It can connect behaviour across players, devices, wallets, and payment channels to uncover mule networks or coordinated fraud.

But what’s crucial is that AI must work alongside human expertise, not instead of it. When used properly, it helps detect early alerts, reduce false positives, and focus investigations where they matter most. On the contrary, if used blindly without governance, it only creates new risks.

In the 2026 iGaming Trends report, I give a vivid example – an AI-powered Fraud Network Detection tool by Sumsub. The system analyses the player’s journey from sign-up to transactions, providing a single view of suspicious activity across the client network. This continuous behavioural analysis transforms complex criminal activity into manageable anti-fraud measures.

Market expansion is a big topic for igaming. Where do operators typically struggle most with AML when entering new jurisdictions, such as Brazil or South Africa?

The biggest challenge is underestimating the operational effort required. Local AML rules differ in reporting thresholds, timelines, and documentation standards. Then you add different ID formats, languages, data privacy rules, and local payment methods. Many operators assume they can reuse the same setup everywhere, but that rarely works. Expansion requires flexibility in workflows and a clear understanding of local expectations. 

How does SOFTSWISS support operators in staying compliant while expanding into regulated markets?

Our goal is to reduce friction. We offer market-specific rule templates, integrations with local screening data, configurable KYC workflows, and reporting tools that match regulator formats.

But tools alone aren’t enough. We also support operators with operational guidance, for example, onboarding playbooks and checklists. And of course, we provide ongoing advice. This way, our partners don’t have to rebuild their AML framework from scratch every time they enter a new market.

Looking ahead, what should operators focus on to build resilient AML systems for 2026 and beyond?

First of all, it’s important to realise that regulators will become more and more strict, especially in such areas as digital transactions and cross-border commerce. Regulatory policy based solely on documents is dying out – it is being replaced by a policy of active supervision of all operator work processes.

In such an environment, AML resilience comes from alignment. Teams need shared ownership, clear processes, and platforms that bring all relevant data into a single investigation space. 

AML is no longer just a compliance obligation. It’s becoming a business enabler. Companies that invest in data quality and smart automation will not only protect their reputation but also ensure the safety and satisfaction of their players.

The operators that will be successful are those who treat their AML as part of their long-term growth strategy, rather than as a reaction to emerging problems.

“Regulators will become more and more strict, especially in such areas as digital transactions and cross-border commerce.”

Eleni Panagiotopoulou, Head of AML at SOFTSWISS.