KSA updates AML guidelines
The Dutch gambling regulator has published new guidelines for operators.
The Netherlands.- The Dutch gambling regulator, Kansspelautoriteit (KSA), has updated its guidelines on how operators should ensure they comply with the Netherlands’ Money Laundering and Terrorism Financing Prevention Act, which has seen several updates in recent years.
Based on research, feedback and questions from licensees, it has introduced new guidelines on risk management, customer due diligence, reporting suspicious transactions, record keeping and the supervision and enforcement of regulatory measures. There are new obligations for monitoring and intervention in cases of signs of gambling addiction or compulsive gambling among customers.
The KSA said it deemed new guidelines to be necessary because there was confusion among operators due to the crossover between monitoring requirements for gambling harm and their duties under the Money Laundering Act.
In September, the KSA issued notifications relating to breaches of the Netherlands’ Money Laundering and Terrorism Financing Prevention Act for the first time. It found that Betent and PlayNorth Limited had taken insufficient steps to meet their obligations.
The KSA began an investigation into the operators in May last year, requesting that they each provide 15 examples of customer investigations. It initially found that the examples submitted lacked date information, making the operators’ decisions on risk analysis unclear. It also told Betent that it should not have retained customer ID numbers (BSN) in the data provided and that it must destroy the numbers retained.
This month, it fined Entain-owned Betent €3m for anti-money laundering and terrorist financing failings. at its BetCity brand.
