The Dutch Kansspelautoriteit (KSA) gambling regulator has cautioned the market that “there is still room for improvement’ regarding adherence to anti-money laundering duties.
After an investigation into three unnamed licensed gaming companies, the KSA determined that all three had violated the terms of the Money Laundering and Terrorist Financing (Prevention) Act (Wwft).
Under the Wwft, licensed gaming firms – which hold Dutch licenses under the October 2021 KOA Act regulatory regime – are required to monitor player transactions and report unusual transactions to the country’s Financial Intelligence Unit (FIU).
After assessing documents such as player files, internal documents on Wwft policy and risk assessments, it seems that the KSA was not satisfied that the three companies in question were meeting these requirements.
