The European Gaming and Betting Association (EGBA) has published its first pan-European guidelines, created to help European online operators fight money laundering.

The EGBA guidelines on fighting money laundering and terrorist financing contain practical, sector-specific guidance on how online gambling operators should conduct customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, record keeping, and others.

Dr Ekaterina Hartmann, Director of Legal and Regulatory Affairs at EGBA, commented: “There’s currently a lack of sector-specific guidance to help Europe’s online gambling operators in their anti-money laundering compliance efforts and these guidelines provide a valuable tool to fill this gap and help operators achieve the highest possible standards.”

Publication of the guidelines follows a consultation period in the autumn of 2022, when EGBA invited feedback from industry experts and national regulatory authorities.

Source: www.egba.eu