02/22/2012 : BETFAIR AND IOC TEAM UP TO COMBAT ILLEGAL BETTING
One of numerous MOU's signed with betting operators
Online betting exchange Betfair and the International Olympic Committee (IOC) have signed a memorandum of understanding (MOU) in an effort to stamp out illegal betting on the 2012 London Olympics.
Betfair has undertaken to utilise its technology systems and team of experts to monitor any suspicious betting patterns and to share any illegal betting related information with the IOC during what has come to be regarded as the world’s foremost sports competition.
Martin Cruddace, Betfair's chief legal and regulatory affairs officer, said the company and the IOC "are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner."
IOC spokeswoman Emmanuelle Moreau said: "By strengthening its cooperation with operators such as Betfair, the IOC steps up its efforts to protect the integrity of sports competitions through a permanent and efficient system of information exchange."