BusinessCompany NewsCasinos 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.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor