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AMLA opens consultations on EU anti-money laundering standards affecting gaming

Regulation

Source: Gaming & Casino Supervision Commission (Cyprus)

The Anti-Money Laundering Authority (AMLA) has opened public consultations on parts of the European Union’s anti-money laundering and counter-terrorist financing framework. The consultations will inform regulatory technical standards, guidelines and supervisory practices, with proposed measures potentially affecting gaming-sector compliance and supervision; submission deadlines are available in the consultation materials.

Gaming-sector stakeholders can provide input on proposed EU compliance requirements and supervisory expectations.

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Regulation

AMLA submits three draft anti-money laundering standards to European Commission

AMLA finalised three sets of draft regulatory technical standards for obliged entities under the EU anti-money laundering framework, according to the Cyprus Gaming and Casino Supervision Commission. The drafts cover customer due diligence, business relationships and group-wide arrangements, and have been submitted to the European Commission for adoption. If adopted and published, they are proposed to apply six months after entering into force.

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