Netherlands regulator refines guidelines on money laundering, terrorism financing prevention in gambling

The Netherlands' gambling regulatory body, Kansspelautoriteit, has introduced updates to its Money Laundering and Terrorism Financing (Prevention) Act, aiming to enhance scrutiny over the sources of players' funds in the gambling industry.

The primary modification within the Act is the incorporation of a systematic approach guiding the investigation into the origins of a player's financial resources. This adjustment arrives in tandem with the evolution of the Dutch gaming market, aligning the regulations with the launch of the online gaming sector in 2021.

Acknowledging the need for comprehensive insights and opinions from various stakeholders, the KSA sought industry perspectives through consultations with the Dutch Financial Intelligence Unit and other pertinent bodies.

These consultations served to streamline the guidelines, clarifying distinct responsibilities concerning research obligations for gambling addiction prevention and client inquiries under the WWFT (Money Laundering and Terrorist Financing Prevention Act).

In its statement, the Kansspelautoriteit highlighted: "This consultation revealed, among other things, that the research obligations in the context of the prevention of gambling addiction and WWFT client research were sometimes too intertwined, which caused confusion. This has been resolved in the now published version.”