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.
The standards would set harmonised AML/CFT requirements for gambling businesses operating across the EU.