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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
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严立新
复旦大学经济学院、金融研究院副教授,中国反洗钱研究中心执行主...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
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李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
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李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
高增安
高增安
复旦大学中国反洗钱研究中心特聘研究员,专事反洗钱与贸易领域的研...
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顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任快钱支付清算信息有限...
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UKGC Expects Swift Response After Updating AML Guidance

https://inkedin.com/ukgc-expects-swift-response-after-updating-aml-guidance/5483/

 

The UK Gambling Commission has advised operators that after updating its money laundering regulations implementing the fifth money laundering directive it expects a swift response.

 

As of immediate entry into action, the UKGC has released the latest edition of its guidelines for remote and non-remote casinos on preventing money laundering and fighting terrorist financing.

 

The UKGC describes this as “it takes time to implement changes and we will take that into account,” however it stresses the expectation of a prompt response, appropriate investment if technology is required to accommodate necessary changes and implementation “with the requisite urgency”.

 

It is further added that the update guidance will result in casino companies updating and subsequently amending their risk assessments of money laundering and terrorist financing, as well as the related policies, procedures and controls.

 

The latest edition is opened and it says: “The law concerning money laundering is based on the general and wide-ranging prevention and detection of the use of any proceeds of crime, and the prevention and detection of terrorist financing.

 

For some businesses (including casinos) this includes the more specific requirements of the business and its employees to have policies, procedures and controls in place covering the risks they face from money laundering and terrorist financing.

 

Using money in casinos, regardless of the amount, that is the proceeds of any crime can amount to money laundering if the person using or taking the money knows or suspects that it is the proceeds of crime. Money laundering offences can be committed by both the customer and casino employees, depending on their respective levels of knowledge or suspicion.”

 

The regulator points out the “main changes” to the money laundering legislation implemented in the fifth edition of the guidance, the regulator pinpoints:

 

-Taking appropriate measures in preparation for, and during, the adoption of new products or business practices and to assess and mitigate any money laundering risks arising from such adoption, in addition to the existing and similar requirement for new technology.

-Having specific policies, procedures and controls for the measures described above.

-Taking appropriate measures to ensure that any agents that operators use for the purposes of their business are given appropriate training in anti-money laundering and counter terrorist financing.

-Further direction in relation to what information may be regarded as ‘obtained from a reliable source which is independent of the person whose identity is being verified’.

-Further requirements for enhanced customer due diligence measures for high-risk third countries, complex or unusually large transactions, and where there are unusual patterns of transactions, or the transactions have no apparent economic or legal purpose, as well as customers who are beneficiaries of life insurance policies or the customer is a third country national who has received citizenship in an EEA state in exchange for the transfer of capital, purchase of property, government bonds or investment in corporate entities in the EEA state.