Dutch gaming regulator Kansspelautoriteit has published the first official anti-money laundering guidelines for the country’s gaming market, but the guidelines are not legally binding or part of the regulations.
The guidelines apply only to land-based venues operated by Dutch gambling monopoly Holland Casino, but will also be extended to online operators when they launch. According to CDC Gaming Reports, there are certain exemptions in place for slot machine, sports betting and lottery providers.
Among the measures is the requirement that licensees verify the identities of all players, be on the alert for money laundering and take action if they see signs of problem gambling.
As needed, the KSA says it may be necessary for operators to conduct more thorough client investigations to prevent money laundering or terrorist financing, including cases in which customers exchange €10,000 (US$11,200) for casino chips or process cashless payments of €15,000 or more. These should be flagged with the Financial Intelligence Unit of the Netherlands. The KSA recommends that all operators train their staff members in AML policies and procedures.
In February, the Dutch Senate approved the Netherlands’ Remote Gambling Act, opening the door to online gaming that is expected to launch on January 1, 2021.
In related news, the Dutch gaming market generated €2.05 billion (US$2.31 billion) in revenue in 2018, marking the first time that the industry surpassed the €2 billion mark. Players in the Netherlands wagered a total of €2.5 billion last year, up 12 percent from 2015. Taxes from gambling totaled €529 million last year, up from €476 million in 2015.
Additionally, a new rule from KSA states that all potential online gaming licensees must have refrained from offering online games of chance to Dutch consumers for two years.
“An important objective of the Remote Gambling Act is to create a safe, controlled range of online gambling,” the KSA said. “Without any leniency for providers who have violated the law in the past, this offer will not take place.”
The KSA is currently setting up the licensing process, with the Ministry of Justice and Security currently drafting the law into subordinate regulations. The licensing process is expected to begin in July 2020. So far, 183 companies having expressed interest in operating in the market.
