The Gambling Commission has detailed key trends and emerging threats in managing anti-money laundering (AML) in the betting sector, noting operators are not “appropriately” scrutinizing customer data.
Gambling Commission enforcement director John Pierce spoke at the Gambling Anti-Money Laundering Group Training Day on 12 February, where he outlined key insights the watchdog has found regarding AML practices.
The Commission has encouraged operators to review customer profiles and monitoring procedures. This is to ensure customer risk profiles align with the “full range of risk” such as customer transactions, geographic location and product risk.
Pierce noted there are a number of “customer triggers” that are proving ineffective at handling money laundering and terrorist financing risks.
