Spanish online gambling operators face tougher Anti Money Laundering Requirements

Sunday May 11,2014 :  SPANISH OPERATORS FACE TIGHTER  ANTI-MONEY LAUNDERING REQUIREMENTS
 
Audits and KYC player verification on pay-outs in excess of Euro 2,500.
 
Spanish online gambling operators, already burdened with bureaucratic reportage and high taxation requirements, have been advised that tighter anti-money laundering regulations must now be applied.
 
These include the identity verification of any player receiving a pay-out of more than Euro 2,500; measures to check up on repeated winners and to better uncover suspicious player activity; and the compulsory use of external annual audits to ensure compliance.