EU Tightens AML Rules

Sat, Sep 26, 2015

In a major crackdown on money laundering, the European Union has established a new rule requiring scrutiny of any transaction exceeding €2,000 (US$2,250) or more. The rules must be in place by September 2017.

The EU has taken a giant step to combat money laundering with a new AML directive that member states must implement within the next two years.

The rules now state that any casino gambler who places a bet or claims chips valued at €2,000 or more must provide ID and will be “subject to stricter monitoring.” The fourth anti-money laundering directive is intended to ensure full transparency and traceability of money traveling within, to and from the EU.

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