The European Gaming and Betting Association published its first pan-European guidelines to support the contribution of the online gaming industry to the European fight against money laundering. The guidelines, reviewed and revised by Europe's leading anti-money laundering compliance experts, reflect the latest technologies and laws and are based on EGBA's commitment to promoting the highest level of industry accountability in AML.
EGBA represents its members in various AML forums, including the European Commission and the Financial Action Task Force (FATF).
The EGBA Anti-Money Laundering and Anti-Terrorist Financing Guidelines contain practical, sector-specific guidance on how online gambling operators should conduct customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, record keeping and other essential areas that require strong AML. compliance. The guidelines, which operators must apply to all their operations in the EU, apply a risk-based approach and aim to support industry compliance with Europe's various AML standards, including the forthcoming EU AML Regulation.
EGBA members are required to submit annual reports to EGBA summarizing their progress in implementing the guidelines, and other operators are also invited to join the initiative.
