EU Online Gambling Operators New Anti Money Laundering Directive

EU 4Following a two year process, the European Parliament has approved a new anti money laundering (AML) directive, which aims to strengthen EU member states framework on tax evasion and terrorist financing.

The AML directive will increase monitoring of digital transactions, making it accessible it easier for authorities to trace funds. Financial services institutions and online gambling operators will be made to follow specific reporting obligations with regards to suspicious transactions made by their customers.

The directive has been welcomed by Maarten Haijer, Secretary General of the European Betting and Gaming Association (EGBA), who stated that the association was pleased of the new ruling as all European based online gambling operators would have to adhere to a single directive on AML, instead of country by country policies.

More at SBC News

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