Following 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.
EU’s Top Court to Consider UK Point-of-Consumption Tax The European Union’s top court will consider the legality of the UK’s online gambling point-of-consumption tax (POCT). The UK implemented its 15% POCT last December, shortly after the Gibraltar Betting and Gaming Association (GBGA) launched a preemptive legal challenge. The GBGA believes […]
Kahnawake Plan to Operator Online Sports Betting Site The Canadian Gaming Association (CGA) is today calling on the Senate of Canada to bring Bill C290 to an immediate vote. Their inaction on the bill continues to foster an illegal, unregulated and dangerous environment for Canadian sports bettors.
On June 2 the Mohawk Council of […]