KSA updates AML and CTF guidelines

KSA updates AML and CTF guidelines

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KSA updates AML and CTF guidelines

The Kansspelautoriteit has recently published the latest version of its AML and CTF guidelines for licensed operators.

The Dutch AML and CTF regulations, which are a part of the WWFT Act, are a set of guidelines used to combat various financial crimes in both the land-based and online verticals of the gambling sector of the Netherlands. Under these laws, licensed gambling companies are required to monitor the transactions of their players and report any suspicious behaviors to the country’s Financial Intel Unit.

The latest version of the guidelines has been prepared by the Dutch gambling regulator with feedback from several third parties, which includes various industry stakeholders, local government bodies, law firms, and other organizations. These consultations revealed that the requirements of the WWFT were sometimes confusing for operators, especially the obligations relating to addiction prevention and customer reviews.

As a result, one of the new version’s key changes is the inclusion of a detailed plan for investigating a suspicious user’s funding source, which also has a few examples available. Moreover, the guidelines also provide operators with a variety of other necessary tools to aid in their compliance with the country’s AML and CTF regulations.

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