The European Gaming and Betting Association (EGBA) is turning up the heat on money laundering in the online gambling world. The group just launched new anti-money laundering guidelines to help operators stay on top of stricter EU rules. With these anti-money laundering guidelines, EGBA wants to make it easier for gambling firms to protect themselves and their players.

  • The anti-money laundering guidelines lay out clear steps for operators on things like checking customer risks, doing proper background checks, reporting shady transactions, and keeping records. EGBA teamed up with some of Europe’s leading AML experts to make sure the advice is practical and fits the realities of the online gambling industry. Operators are expected to use the guidelines in every EU market they work in.

  • Every year, EGBA members have to share updates on how they’re putting the anti-money laundering guidelines into practice. Other online gambling companies are also invited to join in and follow the guidelines if they want. This approach is meant to create more openness and set a common standard across the sector.

  • These guidelines were shaped after a consultation last autumn, where EGBA gathered feedback from industry experts and regulators. By working together, EGBA hopes to make it less confusing for operators to follow Europe’s complicated AML laws. The guidelines also match up with the EU’s upcoming AML Regulation to help operators stay ready for future changes.

  • In 2021, EGBA members went through 30 AML audits by gambling and financial regulators. They also sent nearly 13,000 reports about suspicious activity to national authorities. These numbers highlight how seriously EGBA members take their role in fighting money laundering.

  • EGBA is active in big AML discussions, including with the European Commission and the Financial Action Task Force (FATF). Dr Ekaterina Hartmann from EGBA summed it up well: “There’s currently a lack of sector-specific guidance to help Europe’s online gambling operators in their AML compliance efforts and these guidelines provide a valuable tool to fill this gap.”

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