Casinos face money laundering crackdown

Casinos face money laundering crackdown

Casinos, including those that operate online, will be required to positively identify members and their guests under the European Union crackdown on money laundering.

The EU directive requires ID to be sought either in entry or when gamblers purchase or sell chips to the value of Euro 1000 (about £600).

The rules will be particularly burdensome for e-casinos operating on the internet and certain forms of e-roulette which have become available online.

Computer systems will also be required to postively ID players.

The Gaming Board for Great Britain, in its annual report, said arrangements have been in place for many years covering the detection and reporting of money laundering activities.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

2m Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

2m Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y Accountancy Age

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

2m Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article