Chile has taken new steps to help prevent money laundering and terrorist financing in casinos.
To do so, the Superintendency of Gambling Casinos of Chile upgraded an agreement with the financial analysis unit. The agreement, dating to 2009, includes inspection programs to be followed by Chilean gambling establishments, as well as training for officials, according to SBC Americas.
“The new agreement consolidates coordination between both entities. For example, it works to carry out activities to verify compliance with rules and regulations and reinforces the information exchange related to administrative sanctioning procedures initiated at gambling casinos,” the Superintendency said.
Casinos must put in place policies and procedures to prevent and detect suspicious activity, said Javier Cruz, financial unit director.
“To do this, they must not only know the risks to which they’re exposed, but also the warning signs that they should look for. Hence the importance of the collaboration, training, and supervision activities that we can develop with the SCJ and the entities that it regulates and supervises,” he said.
