EGBA Releases AML Guidelines for Online Gaming Operators
European Gaming and Betting Association releases pan-European guidelines to ensure strict compliance with EU anti-money laundering rules, covering risk assessments, customer due diligence, and more.
EGBA publishes guidelines to ensure compliance with EU anti-money laundering rules The European Gaming and Betting Association (EGBA) has released its first-ever pan-European guidelines for online gaming operators, with the aim of ensuring strict compliance with European Union anti-money laundering (AML) rules.
The guidelines were reviewed by top AML compliance experts and reflect the latest technologies and laws. They provide practical, sector-specific guidance on conducting risk assessments, customer due diligence processes, suspicious transaction reporting, record-keeping, and other essential areas requiring strong AML compliance.
The guidelines apply a risk-based approach and support the sector's compliance with Europe's AML rules, including the upcoming AML Regulation. EGBA member operators must implement the guidelines across their EU operations and report progress annually to the EGBA.
The guidelines fill a gap in sector-specific guidance, providing operators with the highest possible standards to contribute towards the fight against financial crime. The EGBA has committed to a strong culture of AML compliance, and in 2021, its members were subject to 30 AML audits by European gambling and financial regulatory authorities.