Online Gambling Sector Included in EU Anti-Money Laundering Directive

The European Gaming and Betting Association is pleased with the news that the entire gambling sector is part of the fourth European Union anti-money laundering directive.

Maarten Haijer, secretary general of EGBA said, “EGBA has actively engaged with the EU institutions to include online gambling in the directive. The new directive ensures that EU online gambling providers now have one rather than 28 sets of AML rules to comply with to provide their services in the EU.

“The risk based assessment underpinning the directive will apply to all services, with the exception of land based casinos where there can be larger sums of cash money involved.

“With only electronic payments, no cash and perfect traceability on the internet, EGBA is confident that the directive will further add to the safe provision of EU regulated online gambling services.”

Haijer said that this makes the gambling sector subject to additional European laws.

“Following this success, EGBA encourages the European Commission to come forward with additional EU initiatives to address the regulatory fragmentation that the sector is currently facing. Consumers and operators alike benefit from a more harmonised approach at the European level.”
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    catapultaudio

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    Lets be honest on-line gambling does offer a seriously ideal opportunity for those needing to launder some money, here in the UK we have shops on every high street with roulette based machines allowing you to feed in cash and get a receipt for "winnings" in just a few minutes, I'm not sure how this can be tackled though!
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    SassyGirlMe

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    Well it looks like there getting thing more organized. When you have several rules in effect it's kind of hard to make things work properly. Looks like someone above final realized that. What do you know one set of rules. Well lets hope those set of rules cover everything.

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