Dutch gambling regulator flags AML breaches
The KSA has issued warnings to three gambling operators.
The Netherlands.- The Dutch gambling regulator kansspelautoriteit (KSA) has issued three gambling providers with warnings under the Money Laundering and Terrorist Financing (Prevention) Act (Wwft). It said that research showed the did not comply with guidelines and has ordered the unnamed operators to come into line and end the violations.
The KSA conducted research into the compliance of the gambling providers, requesting various documents, including player files, internal documents on AML policy and risk assessments. During the investigation, several violations were found. The regulator said that fines could be imposed if a re-inspection the providers have not taken steps to address the issues.
The regulator also said that it still sees room for improvement in AML across the market at a whole. It reminded operators that they must monitor player transactions and report unusual transactions to the Dutch Financial Intelligence Unit (FIU).
The KSA noted that guidelines were updated at the end of 2023 based on its research, signals from consumers and suggestions from providers. It held a webinar was held at the end of 2024 to explain the legal standards and share best practices.
Warnings over withdrawal restrictions
Earlier in the week, the KSA warned an operator for allegedly requiring players to wager deposited money before allowing them to withdraw it. The regulator noted that this is only permitted in conjunction with bonus offers and under certain conditions. In other cases, providers must always pay out as quickly as possible, it possible it said.
“If a player requests it, their player balance must be refunded immediately by the provider. A provider may not impose structural conditions that prevent immediate payouts. Player balances must therefore be refunded without unnecessary delay,” the KSA said.
The warning was issued after the KSA received a report from a player who reported being unable to immediately withdraw their deposited funds from ZEbet. When the regulator asked for an explanation, ZEbet indicated that it was a technical error and that players who contacted customer service received their funds back without having to wager them. ZEbet said it took corrective action on the same day to prevent future incidents. Therefore, the KSA considered a warning to be sufficient for now.
