Anti-money laundering (AML) is rapidly becoming one of the most pressing regulatory areas for gambling firms across all major jurisdictions. 

In Europe, this is led by the introduction of the Fourth Anti-Money Laundering Directive (AMLD). The directive, which was approved in 2015 and must be in force by June 26, 2017, is bringing greater scrutiny of AML by regulators and operators as it will cover the entire gambling sector after previously only applying to casinos.

Among other things, the fourth AMLD will introduce the requirement for gambling providers to carry out due diligence checks on transactions of €2,000 or more.

But the draft directive also leaves it up to member states to exclude certain types of gaming (apart from casinos). Some countries have questioned, for example, whether products such as low-stake slot machines should be covered by the new rules.

Meanwhile, money laundering is also becoming an area of heightened attention in the US with casinos, tribal gaming operators and card clubs coming under pressure to comply with several laws to prevent financial crimes. The movement of funds from Asia to the US, and vice versa, by Las Vegas casino chains is sharpening the focus even more, with new AML rules also being put in place in the Chinese gambling enclave of Macau.

See below for GamblingCompliance’s coverage of recent anti-money laundering issues.

Insight & Analysis

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