All gambling service providers except casinos to be exempted from the requirements of 4MLD

HM Treasury has published an outline of the responses submitted to its September 2016 policy consultation on the Transposition of the Fourth EU Money Laundering Directive (“4MLD”) and Fund Transfer Regulation (“FTR”) – on which we have written previously here – that also contains the Government’s policy decisions positions following the consultation. Accompanying that document are the draft Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 that can be viewed here.

A key decision that has emerged from the consultation is the exemption of all gambling service providers from the requirements of 4MLD, except remote and non-remote casinos.

The Government is inviting views by 12 April 2017 on the further policy questions posed in the newly published document, as well as on the draft Regulations. Details of how to submit such views and excerpts from the newly published document that are of particular relevance to gambling operators are contained in our briefing note that can be downloaded below.