Dutch gambling regulator warns Tulipa after AML breaches
The operator has drawn up a remediation plan after collaborating with the KSA’s investigation.
The Netherlands.- The Dutch gambling regulator Kansspelautoriteit (KSA) has issued a notice to Tulipa Ent for alleged violations of the Netherlands’ Anti-money Laundering and Terrorism Financing (Prevention) Act (Wwft). The notice requires Tulipa to address the various violations within two to six months.
Tulipa operates gaming in the Netherlands under the ComeOn and GetLucky brands. The KSA found its customer due diligence to be inadequate, citing examples of risk classifications not being applied correctly along with insufficient monitoring of transactions and the origin of funds.
The regulator said the operator also failed to properly document unusual transaction reports, which meant that the Dutch Financial Intelligence Unit could not properly assess compliance with its reporting obligations. The KSA reminded Tulipa that after submitting a report to the FIU, a PDF containing all the reporting information must be compiled within 24 hours to comply with Wwft requirements.
Tulipa is also said to have inadequately tailored Wwft training to employees’ job levels, particularly those working in compliance and the MLRO (Money Laundering Reporting Officer).
The KSA noted that Tulipa cooperated with its investigation and proactively developed a remediation plan. Some violations were already addressed during the investigation, it said. The KSA will conduct a follow-up inspection after the deadlines set.
The regulator said: “The LSA has the crucial task of monitoring gambling providers’ compliance with the Wwft (Money Laundering and Terrorist Financing (Prevention) Act), to prevent money laundering and underlying crime, and to protect the financial system.”
It added: “Gambling providers must monitor their customers’ behavior and take action if there is unusual behavior. Examples include a player suddenly depositing large amounts or if there is a suspicion of match-fixing.”
