UK Gaming Commission publishes 5th edition of the Prevention of Anti-Money Laundering and Combating the Terrorist Financing guidance for remote and non-remote casinos.

The EU 5th Anti Money Laundering Directive came into force on 10th January 2020. On the same date, the UK Gaming Commission published its fifth edition of its guidance for remote and non-remote casinos on the prevention of money laundering and combating the financing of terrorism. The guidance is based on the need to detect and prevent the use of any proceeds of crime and also to fight terrorist financing. Essentially this results in more requirements for businesses to have procedures, policies, and controls regards the risk of money laundering and terrorist financing.

The use of money in casinos may lead to money laundering offences committed by customers and casino employees. Therefore the UKGC expects operators to act promptly and immediately implement the changes. Operators should prevent gambling from being a source of crime, being associated with crime or being used to support crime. In order to avoid this, the guidance encourages casino businesses to review and make any necessary amendments regarding their AML and terrorist financing risk assessments.

The UKGC guidance is focused on the appropriate measures that should be taken and the adoption of the relevant practices to mitigate and money laundering risks. For this reason, any agents employed by the operators should receive the appropriate training. There is also guidance relating to the information that may be considered as having been obtained from a reliable source which is independent from the person being verified. In addition, there are further requirements as regards the enhanced customer due diligence measures for third countries, complex or large transactions etc.

Even while the Commission recognizes that it will take time to implement the changes, it is expecting operators to put in place specific policies, procedures and controls to cater for the above measures.

Legal Associate

Sara Leka

Sara joined E&S Group in 2018 as a legal associate within the Legal Department. She completed her Bachelor Degree at the University of Tirana, Faculty of Law in Albania and furthered her studies by completing a Master of Science in Civil Law at the University of Tirana. She is certified as a lawyer by the National Chamber of Advocacy of Albania. Prior to joining E&S Group, she has been working as a legal associate for two years with international companies. Her main areas of practice are fintech-related matters, corporate and commercial law and intellectual property matters.

Sara is fluent in English, Albanian and has a basic knowledge of Italian.

Email: sara@ellulschranz.com

Phone:+356 2010 3020

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