Tag Archives: Money Laundering
Costa Rica – Costa Rica won’t investigate money laundering allegations
The government of Costa Rica’s has refused to investigate a local online sportsbook after the US claimed that it was being used for money laundering. The deputy prosecutor of the Costa Rican Money Laundering Office, Alvaro Montoya, said that the business of online gaming is legal and as such does not fit into any offense…
Colombia – Coljuegos defends anti-money laundering measures
The Colombian Gaming Control Board (Coljuegos) has come out strongly in defence of its record when it comes to combating organised crime and money laundering after a report criticising its efforts was published by US Department of State. In a statement Coljuegos argued that it had “actively” taken part in “the prevention and control,” of…
Philippines –Philippines’ casinos used in laundering scandal
The Philippines Securities and Exchange Commission wants casinos to fall under the jurisdiction of the Anti-Money Laundering Act (AMLA) to give investigative authorities greater powers. The call comes after at least half the money stolen in an US$81m cyber crime ended up in two of the country’s casinos. Unconfirmed reports suggest that $26m was found…
UK – UK’s Gambling Anti-Money Laundering Group appoints Chairman
The Gambling Anti-Money Laundering Group (GAMLG)has appointed Keith Bristow QPM as its first Chairman. GAMLG was established in January 2016. Its initial membership is comprised of the Remote Gambling Association (RGA) and the Association of British Bookmakers (ABB). The sectors they represent account for over 70 per cent of the British gambling market. The organisation…
US – AGA releases comprehensive Anti-Money Laundering report
The American Gaming Association’s released the most comprehensive examination ever conducted of the US casino gaming industry’s compliance with federal AML laws and regulations. The report, carried out by Ernst & Young, comes ahead of the upcoming Financial Action Task Force (FATF) Mutual Evaluation, which is taking place this year for the first time in…
Peru – Anti money-laundering measures proposed in Peru
The regulatory and supervisory authority in Peru over banking and financial institutions has published a number of new proposals which would seek to prevent money laundering in casinos and slot parlours. The Superintendency of Banking, Insurance and Private Pension Funds (SBS), aims to have the new regulations in place by April 1st this year. The…
UK – UK Commission cracks down on Caesars’ money laundering shortcomings
The UK Gambling Commission has criticised Caesars Entertainment for money laundering compliance failures at two of its London casinos. Safeguards to ensure against money laundering were reportedly lax at Caesar’s Empire Casino in Leicester Square and the Playboy Club in the West End and failed to comply with British financial laws. The Commission highlighted breaches…
UK – RGA publishes Anti-Money laundering guidelines
The Remote Gambling Association (RGA), has published the Second Edition of its publication, ‘Anti-money laundering: Good practice guidelines for the online gambling industry’. The guidelines are designed to help licensed online gambling companies combat the threat of money laundering and terrorist financing in a consistent and effective manner. It covers key areas such as the…
UK – UK Gambling Commission tells industry to toughen up on anti-money laundering
The UK Gambling Commission has told the British gambling industry it must act on the lessons that have emerged from recent investigations into anti-money laundering and social responsibility shortcomings in Grosvenor Casinos and meccabingo.com. It said the industry must critically review the effectiveness of their policies and procedures to prevent gambling being used to support…
