Latest news: 5th edition of the Prevention of Anti-Money Laundering and Combating the Terrorist Financing guidance for casinos We license and regulate the people and businesses that provide gambling in Great Britain including the National Lottery.

• Uk Money Laundering Regulations
• How To Report Money Laundering
• Uk Gambling Commission Anti Money Laundering

Uk Money Laundering Regulations

Feb 20, 2018  Betting group William Hill has been fined £6.2m by the gambling industry regulator for failing to protect consumers and prevent money laundering. The Gambling Commission said that over the two. Jun 25, 2019  Nicola Sharp, of business crime solicitors Rahman Ravelli, says that many in the gambling industry need to take a good look at their vulnerability to money laundering. Two online gaming companies will pay a total of £2.8 million for anti-money laundering (AML) compliance lapses, the UK Gambling Commission has announced. Jan 10, 2019  Publishing the fourth edition of its guidance on the prevention of money laundering and terrorism financing, the UK Gambling Commission has stressed the responsibilities of casino operators to take action. Dec 30, 2019  The United Kingdom’s departure from the European Union is now long-odds on after Boris Johnson was given a mandate in the General Election to “Get Brexit Done”. The withdrawal at the end of January 2020 comes just 21 days after the European Union’s 5th Anti-Money Laundering Directive takes effect. The UK Gambling Commission. Jan 06, 2018  Online casino operators are failing to protect problem gamblers or prevent money laundering, the Gambling Commission has warned. It has written to all 195 UK operators and warned them to review. Dec 23, 2019  The United Kingdom’s Gambling Commission have updated their regulations concerning anti money laundering measures which implements the EU’s 5th Money Laundering directive, which will come into force on the 10th January next year.

The United Kingdom’s Gambling Commission have updated their regulations concerning anti money laundering measures which implements the EU’s 5th Money Laundering directive, which will come into force on the 10th January next year.

On the same date the Gambling Commission will also publish the 5^th edition of their guidance for remote and non-remote casinos on “Theprevention of money laundering and combatting the financing of terrorism,” which will come into force immediately on publication.

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How To Report Money Laundering

Taken from the UKGC’s site, of which you can read in full here, are the main changes to the Money Laundering Regulations which are applicable to casinos:

Uk Gambling Commission Anti Money Laundering

• Taking appropriate measures in preparation for, and during, the adoption of new products or business practices and to assess and mitigate any money laundering risks arising from such adoption, in addition to the existing and similar requirement for new technology (regulation 19)
• Having specific policies, procedures and controls for the measures described above (regulation 19)
• Taking appropriate measures to ensure that any agents that operators use for the purposes of their business are given appropriate training in anti-money laundering and counter terrorist financing (regulation 24)
• Further direction in relation to what information may be regarded as ‘obtained from a reliable source which is independent of the person whose identity is being verified’ (regulation 28)
• Further requirements for enhanced customer due diligence measures for high-risk third countries, complex or unusually large transactions, and where there are unusual patterns of transactions, or the transactions have no apparent economic or legal purpose, as well as customers who are beneficiaries of life insurance policies or the customer is a third country national who has received citizenship in an EEA state in exchange for the transfer of capital, purchase of property, government bonds or investment in corporate entities in the EEA state (regulation 33)