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AMLA consults on gambling-sector risk supervision standards across the EU

Regulation

The EU Anti-Money Laundering Authority opened a consultation on draft standards for assessing money-laundering and terrorist-financing risks among non-financial entities, including online and retail gambling operators. The consultation runs until 27 September; AMLA identified proportional reporting, smaller businesses and implementation costs as issues for feedback.

The proposed standards could shape how national supervisors assess gambling operators’ money-laundering risks.

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Regulation

FATF publishes new risk indicators for gambling and betting sector

The Financial Action Task Force has published new risk indicators for the gambling and betting sector to help governments, supervisors and the private sector identify money-laundering, terrorist-financing and proliferation-financing risks, according to Cyprus's Gaming and Casino Supervision Commission. More than 80 jurisdictions, industry bodies and researchers contributed to the work, which flags illegal gambling as a major sector risk.

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