The Dutch Gaming Authority, known as the Kansspelautoriteit (KSA), has introduced updates to its Money Laundering and Terrorist Financing (Prevention) Act, commonly referred to as the AML Act. This legislation encompasses all forms of gambling in the Netherlands, applying to both land-based and online operators.
Key Provisions of the Updated AML Act:
Under the revised guidelines, gambling operators are mandated to engage in continuous monitoring of customer transactions. Any transactions that deviate from established guidelines must be promptly reported to the Dutch Financial Intelligence Unit. The KSA underscores the significance of anti-money laundering (AML) measures, emphasizing the potential threats to society, the economy, and the integrity of the financial sector.
Importance of AML Measures:
The KSA outlines the critical role of AML practices in preventing the obscuring or disguising of the origin of criminal proceeds. Money laundering poses a serious threat, enabling individuals to evade authorities, sustain criminal gains, and exert influence in the legitimate realm—an act commonly referred to as undermining.
Guidelines for Operators:
The updated guidelines include a comprehensive step-by-step plan for operators to investigate a player’s source of income. This plan provides practical examples and outlines triggers that may initiate an inquiry. For instance:
Unusual patterns in poker games, such as repeated significant losses to the same player.
Betting on all possible outcomes in games of chance, indicating potential manipulation.
Observing unusual denominations and amounts of notes in land-based casinos.
Detecting the use of different cards for withdrawals compared to those used for deposits in online casinos.
Evolution of AML Guidelines:
Prior to this update, the AML guidelines were last amended on April 1, 2021, coinciding with the introduction of the Remote Gambling Act. The recent adjustments reinforce the commitment to combat money laundering in the gambling sector.
The KSA’s proactive stance in updating and strengthening the Money Laundering and Terrorist Financing Act underscores the commitment to maintaining the integrity of the Dutch gambling industry. By providing clear guidelines and examples, the authority aims to equip operators with effective tools to detect and prevent potential instances of money laundering, contributing to a safer and more secure gambling environment in the Netherlands.