The European Gaming and Betting Association (EGBA) is strengthening anti-money laundering disciplines in its new pan-European guidelines.
The document produced by the trade body provides best practices specific to each sector on industry AML standards to help operators manage their compliance duties.
The guidelines help operators comply with both EU and individual national rules.
Dr Ekaterina Hartmann, director of legal and regulatory affairs for the EGBA, commented, “We’re pleased to present the first ever pan-European industry standards on anti-money laundering for Europe’s online gambling sector.”
She added, “Preventing online gambling from being used to hide the proceeds of crime is an important test for Europe’s gambling operators – but there’s currently very little sector-specific guidance to help operators in their compliance efforts. We hope these guidelines will fill this gap and lay strong foundations for the sector to achieve the highest possible standards in AML compliance.”
