The Gambling Commission has published the 4th Edition of its AML & CTF Guidance for casinos entitled “The Prevention of Money Laundering and Combating the Financing of Terrorism: Guidance for remote and non-remote casinos“.
- the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 coming into force on 26 June 2017, implementing the requirements of the 4th EU Money Laundering Directive, and
- a consultation by the Commission on the content of the updated Guidance, in relation which it has now published its consultation response.
Both the consultation response and the updated AML/CTF Guidance (incorporating a number of amendments to the draft Guidance published with the original consultation document) can be downloaded below.
The Gambling Commission has said:
“The Guidance comes into effect immediately, as the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are already in force. We recognise that it takes time to implement changes and we will take that into account but we expect to see that an operator has acted promptly, invested appropriately (if technology is required to accommodate the changes) and implemented changes with the requisite urgency”.
UPDATE: On 7 March 2018, the Commission announced that HM Treasury had formally approved its further updated “Prevention of money laundering and combating the financing of terrorism” guidance for non-remote and remote casinos.