Online gambling to be included in Fourth European Anti-Money Laundering Directive

The European Gaming & Betting Association has announced that the entire gambling sector is now included in the scope of the fourth anti-money laundering directive.

EGBA welcomes the deal reached by the negotiating teams of the European Parliament and the Member States on 16 December, which will ensure that the online gambling sector is subject to one set of rules in the whole of the European Union.

Maarten Haijer, Secretary General of EGBA said:

“EGBA has actively engaged with the EU institutions to include online gambling in the directive. The new directive ensures 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 casino’s where there can be larger sums of cash money involved. With only electronic payments, no cash and perfect traceability on the internet, EGBA is confident that the directive will further add to the safe provision of EU regulated online gambling services.”

Haijer further stated: “The inclusion of the online gambling sector in the new anti-money laundering directive adds to the growing number of European legislation applicable to the online gambling sector. Following this success, EGBA encourages the European Commission to come forward with additional EU initiatives to address the regulatory fragmentation that the sector is currently facing. Consumers and operators alike benefit from a more harmonised approach at the European level.”