The gaming sector of Bulgaria has announced an alliance with government agencies responsible for fighting money laundering and terrorism financing, Yogonet reported April 2.
The National Revenue Agency (NRA) and the State Agency for National Security held a meeting chaired by NRA Director General Rumen Spetsov where gaming stakeholders emphasized the importance of joining forces on anti-money laundering (AML) and counter-terrorist financing (CTF).
The NRA oversees gambling operator licensing and taxation.
They committed to a strategic partnership to work toward compliance with regulation obligations.
The director declared, “We value the commitment of the gambling industry to effectively counteract and prevent money laundering and terrorism financing.”
Bulgaria was recently placed on the Financial Action Task Force (FATF) gray list, which means they need to fix problems with their regulatory regimes. Several countries, including Gibraltar, the UAE and Barbados, were able to be removed from the gray list after taking measures to fight financial crimes.
