The Dutch Gaming Authority - Kansspelautoriteit - (KSA) is tasked with the regulation of gambling, it constantly monitors the sector and often takes action against licensed operators who breach the established rules and at the same time safeguards players from illegal gambling providers that may be targeting Dutch customers.
In 2019, the KSA issued an indication to a leading gaming operator in the country for failing to comply with certain requirements of the Law on the Prevention of Money Laundering and Financing of Terrorism (Wwft).
The breaches in question related to “insufficiently monitoring the gaming behaviour of players and the origin of the money used,” as explained by the KSA.
As a result, the KSA confirmed that it gave the operator specific instructions ensuring its compliance. Not unexpectedly, the operator followed the guidelines, fully complied with the regulations and remedied the situation within a deadline set by the KSA and is now offering its services in compliance with the regulatory framework.
Nonetheless, following a ruling by the Trade and Industry Appeals Tribunal (CBb), the indication and the decision on the operator's objection have now been made public.
Usually, matters related to Wwft breaches are confidential, however, the ruling of the appeal enabling the publication of this indication serves several purposes: firstly, it allows the KSA to inform the public about the enforcement actions taken by the authority as a consequence of the breach, although some parts of the decision and case remain confidential, and, according to the KSA, the public announcement by informing them that they may be subject to enforcement in the event of any breaches of the regulations, seeks to serve as a deterrent, preventing gambling operators from violating the Wwft.
In more severe cases, the gambling regulator has the authority to impose financial penalties or even revoke licenses.
Interested in a chat about AML in the Netherlands and manage to stay alert of integrity breaches and prevent being targeted for illicit purposes? Speak to Lawrence Marchese (lawrence@chevron.group), Nikolas Lotz (nikolas@chevron.group) and Thees Buschmann (thees@chevron.group) from Chevron Group. Follow us on LinkedIn for more industry related news.
Quelle: Chevron Consultants