The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 were laid in Parliament on 22nd June 2017 and came into force yesterday, 26th June 2017. They can be accessed here.
This follows a period of transposition of the 4th EU Money Laundering Directive and consultation by H.M. Treasury. The 2017 Regulations replace and supersede the Money Laundering Regulations 2007.
As previously explained, all casino operators both non-remote and remote (online) must comply with the requirements of the 2017 Regulations with immediate effect and will need to ensure they have effective measures in place. We have been advising numerous operators on AML compliance issues and will be pleased to assist anyone requiring input from us.
Richard Watson, programme director for the Gambling Commission has said: “We welcome the new Regulations, which supports our licensing objective of keeping gambling crime free. We are currently in the process of revising our anti-money laundering guidance to reflect the new Regulations – operators are reminded they need to take their anti-money laundering responsibilities seriously and implement the necessary changes.”
Casino operators will be invited to provide feedback on the proposed changes to the Commission’s guidance The Prevention of Money Laundering and Combating the Financing of Terrorism – guidance for remote and non-remote casinos via a forthcoming Gambling Commission consultation, on which we will report further when we have further news on this.