Chile updates AML rules for casinos with risk based compliance framework

Chile’s financial intelligence and casino regulators have introduced updated anti-money laundering (AML) requirements for the country’s casino sector, replacing rules that have been in place for more than a decade.

The country’s Financial Analysis Unit (UAF) and the Superintendence of Gaming Casinos (SCJ) have issued a joint circular establishing a revised framework for the country’s 25 licensed casinos. The new rules are designed to strengthen measures against money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.

The circular replaces joint guidance issued by the two authorities in 2014 and aligns casino compliance obligations with the broader standards introduced under the UAF’s Circular No. 62 for other reporting entities.

Among the most significant changes is the adoption of a risk-based approach, requiring casino operators and municipal concessionaires to incorporate risk assessments into their internal compliance policies and procedures.

The updated framework also introduces enhanced requirements for analysing and reporting suspicious transactions, while requiring customer due diligence measures to be applied according to the level of risk presented by individual customers.

The regulations also strengthen internal governance by requiring operators to establish a Prevention Committee and expanding the responsibilities of compliance officers. In addition, the circular updates rules covering record-keeping, politically exposed persons (PEPs), AML compliance manuals and staff training.

Marcelo Contreras, Acting Director of the UAF, said the changes modernise a regulatory framework that had remained largely unchanged for more than 10 years.

He said the new circular introduces a risk-based approach consistent with international standards and demonstrates the commitment of both regulators to maintaining a robust AML and counter-terrorism financing regime capable of responding to evolving financial crime risks within the casino industry.

Eduardo Cáceres, Acting Superintendent of the SCJ, said the revised rules reflect the close cooperation between the two agencies. He noted that more than half of the AML inspections carried out during 2025 were conducted jointly, helping to strengthen technical expertise and coordination between the regulators.

The joint circular will take effect on 1 October 2026.

The new framework is issued under powers granted by Law No. 19,913, which authorises the UAF to issue AML compliance instructions to reporting entities, and Law No. 19,995, which empowers the SCJ to oversee casino operators and issue general regulatory guidance for the sector.