Tanzania gaming regulator highlights operators’ AML duties
The regulator is working with national authorities to strengthen coordination and address money laundering and terrorist financing risks across the gaming industry.
Key takeaways:
- Tanzania’s Gaming Board is participating in a national workshop preparing the country for its Third Round Mutual Evaluation on AML/CFT.
- Deputy finance minister Mshamu Ali Munde officially opened the workshop on behalf of finance minister Khamis Mussa Omar.
- The National Multi-Disciplinary Committee on AML/CFT organised the workshop with the Financial Intelligence Unit.
- GBT is responsible for ensuring gaming operators comply with relevant laws and implement measures to manage financial crime risks.
- The regulator says the workshop will strengthen cooperation, knowledge-sharing and coordination between government institutions.
Tanzania.- Tanzania’s Gaming Board (GBT) is emphasising gaming operators’ compliance responsibilities as the country prepares for its Third Round Mutual Evaluation on Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT). Led by its director general, the regulator is participating in a national workshop bringing together government institutions to strengthen preparedness and coordination in addressing financial crime risks.
The workshop was officially opened by deputy minister for finance Mshamu Ali Munde, who represented finance minister Khamis Mussa Omar. It is organised by the National Multi-Disciplinary Committee on AML/CFT in collaboration with the Financial Intelligence Unit (FIU).
GBT highlighted the need for close monitoring of the gaming industry because of its potential misuse for money laundering and other financial crimes in a statement. “The gaming industry is one of the sectors that requires close monitoring to prevent its potential misuse for money laundering and other financial crimes,” the regulator said.
As the industry’s regulator, GBT is responsible for ensuring that gaming operators comply with relevant laws and regulations and implement appropriate measures to manage these risks.
The Board said its participation in the workshop would strengthen its contribution to Tanzania’s broader efforts to combat financial crimes. It also provides an opportunity to engage with other institutions, share knowledge and improve coordination in addressing money laundering and terrorist financing (ML/TF) risks.
GBT reaffirmed its commitment to strengthening regulatory oversight and working with relevant authorities. “GBT remains committed to strengthening oversight of the gaming industry and working with relevant authorities to promote compliance, transparency and the integrity of Tanzania’s financial system,” it said.
Frequently asked questions (FAQs)
- What is Tanzania’s Third Round Mutual Evaluation? It is an assessment of the country’s anti-money laundering and counter-financing of terrorism framework. GBT’s workshop participation is intended to contribute to national preparations for the evaluation.
- What is the Gaming Board of Tanzania’s role in AML compliance? GBT is responsible for ensuring that gaming operators comply with relevant laws and regulations and implement appropriate measures to manage money laundering and other financial crime risks.
- Which institutions are organising Tanzania’s AML/CFT workshop? The National Multi-Disciplinary Committee on AML/CFT is organising the workshop in collaboration with the Financial Intelligence Unit (FIU).
- Who opened Tanzania’s AML/CFT preparation workshop? Deputy minister for finance Mshamu Ali Munde officially opened the workshop, representing finance minister Khamis Mussa Omar.
