Saturday February 2,2013 : EUROPEAN COMMISSION WANTS TO TIGHTEN UP MONEY LAUNDERING CONTROLS
Gambling – both land and online – operators could be impacted
The European Commission will on February 5 present proposals for wider money laundering controls within the European Union as part of its recommendations for updating the 2005 Third Money Laundering Directive binding on the 27 EU nations.
The justification for the update, which will include more focus on the gambling industry both land and online, is to improve defences against terrorist financing and criminal money laundering.
InfoPowa readers will recall last week's Deutsche Welle report that organised crime experts claim the Italian mafia is currently profiting from the complicated legal situation regarding German gambling, and even earlier claims by the Italian anti-organised crime authorities that the underworld has a stake in the Italian gambling industry.