EGBA welcomes anti-money laundering rules from EU

The European Gaming and Betting Association (EGBA) has welcomed anti-money laundering proposals made by the European Union (EU)

The European Gaming and Betting Association (EGBA) has welcomed anti-money laundering proposals made past the European Union (EU).

The EU has published proposals for deuce anti-money laundering regulations and a revisal on the electric current EU anti-money laundering directive.

The proposals build on concerns in recent years that some EU members have not sufficiently implemented or implemented the EU’s current anti-money laundering rulebook.

Mainly, the proposed regulations are directed towards financial services.

EGBA says it welcomes the declaration and “reaffirms its consignment to process with all relevant regulatory bodies,” such as the EU, to combat money laundering inwards Europe.

Some of the proposed changes are expected to move Europe’s online gambling sector, including good ownership, customer due industry and establishing a young anti-money laundering authority.

The proposals will now go game through the EU legislative treat and testament live sent to the European Parliament and Council to be reviewed and approved.

The outgrowth could get hold of 18 months, but once approved the changes will amount into force immediately and every EU member testament experience to fall out them.

Ekaterina Hartmann, EGBA Director, said: “We welcome the efforts of the European Commission to continuously improve the EU fabric for combatting money laundering. EGBA members already go for the highest regulatory standards inward AML compliance and are fully committed to tackling money laundering inward the online gaming sector.

“To reenforcement this, we are workings nearly with our members to make grow EU-wide, sector-specific guidelines to aid Europe’s online gaming companies follow with the more and more coordination compound AML rules inwards the EU.”

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