New anti-money laundering directive for EU member states

Thursday May 21,2015 :  NEW ANTI-MONEY LAUNDERING DIRECTIVE PASSED IN EUROPEAN UNION
 
Uniform regulation will give companies one set of rules to work to instead of 28.
 
The approval by the European Parliament of a new anti-money laundering directive for EU member states has been welcomed by the European Gaming and Betting Association.
 
Maarten Haijer, secretary general of EGBA said: “It should ensure that EU online gambling providers now have 1 rather than 28 sets of AML rules to comply with to provide their services in the EU.
 
"The risk based assessment underpinning the directive will apply to all services, with the exception of land based casinos where there can be larger sums of cash money involved.
 
"Thanks to the perfect traceability of transactions and the already existing identification tools used by online gambling operators, EGBA is confident that the directive will further add to the safe provision of EU regulated online gambling services.”
 
Haijer added that member states now have to transpose the directive into their national legalization, a process they have two years to complete.