UKGC confirms updated AML regulations will be enforced in January 2020

Comments made earlier today in our website posting entitled “Urgent action required by all UK licensed casino operators to implement AML changes in force from 10 January 2020” have been picked up in a Payment Expert article entitled “UKGC confirms updated AML regulations to be enforced in January”, that you can download below.

A degree of confusion existed immediately following the Gambling Commission’s “Statement of supervisory expectations: updated Money Laundering Regulations” by reason of the fact that, as at today (20 December 2010), the webpage entitled “Transposition of the Fifth Money Laundering Directive” (a copy of which can also be downloaded below) states that HM Treasury is still analysing feedback in relation to its consultation on transposition of the Fifth Money Laundering Directive into national law, that ran from to .

That confusion appears to have been resolved now that the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 have very belatedly been laid in Parliament today with the intention that they will come into force on 10 January 2020. You can also download below a copy of those Regulations.