EGBA publishes first pan-European guidelines on AML/CTF in the gambling sector

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The European Gaming and Betting Association [EGBA], a trade association working alongside national and EU authorities, has published its first pan-European guidelines on fighting money laundering and terrorist financing for the online gambling sector.

Guidance is provided on areas including:

  • The risk-based approach to AML/CTF;
  • Business Risk Assessments;
  • Customer due diligence [CDD];
  • Suspicious transaction reporting [STR];
  • Record-keeping requirements;
  • Outsourcing and third-party reliance;
  • Training.

Relevant firms should read the report to ensure that their policies and controls are aligned with the EGBA guidance.

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