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Compliance Updates

Europe that Protects: Stronger rules criminalising money laundering enter into force

Zoltan Tundik

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Dimitris Avramopoulos at the Europe for Citizens - Meeting of the Civil Dialogue - Date: 28/11/2018 Reference: P-038870/00-05 Location: Brussels - EC/Centre A. Borschette © European Union , 2018 / Source: EC - Audiovisual Service / Photo: Benas Gerdziunas
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Today, the new measures to counter money laundering by criminal law enter into force across the EU. The new rules will ensure that dangerous criminals and terrorists face equally severe penalties for money laundering wherever they are in the EU, with a minimum term of imprisonment of 4 years.

Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos said: “If we want to catch criminals and terrorists, we have to follow the money. Today, we are beefing up the EU’s response to money laundering, making sure that criminals and terrorists no longer get away with illegally gained money and face deserved justice. A Europe that protects is a Europe that effectively prevents and prosecutes criminals.”

Commissioner for the Security Union Julian King said: “Money laundering is a key tool used by terrorists and serious criminals to obtain funding – by harmonising the crime and the punishment across the EU, we can further close down the space in which they operate. Member States now need to implement the new rules without delay.”

The Commission proposed to harmonise offences and sanctions for money laundering across the EU in December 2017. While all Member States currently criminalise money laundering the definitions of this crime as well as the penalties related to it differ across the EU, allowing criminals to effectively “window shop” and exploit the differences between national legislation.

With the new rules in force that will be no longer possible. Member States now have 24 months to implement the new rules into national law and notify the Commission accordingly.

The recent changes and all AML related topics will be highlighted during Prague Gaming Summit by the attending experts of the gambling industry in a special panel discussion. You can find more details on the following page.

Compliance Updates

STS Secures UK License

Niji Narayan

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STS Secures UK License
Photo Source: klook.com
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STS has become the first Polish bookmaker to secure a license in the regulated UK gambling market.

“We are not only the largest Polish bookmaking company but the first domestic company in this industry that operates outside the domestic market. Obtaining a licence in the United Kingdom is the result of a consistently implemented international expansion strategy. We are always looking at other prospective foreign markets,” Mateusz Juroszek, CEO of STS said.

STS is the first Polish bookmaker to start foreign operations, and further international expansion is planned. STS is currently conducting advanced activities aimed at obtaining its own licences in other markets.

STS expanded its business to European markets in February 2019. After years of intensive development, the company now controls almost half of the domestic sector. The bookmaker’s offer is available in the UK, Germany, Iceland, Luxembourg, Slovenia, Andorra, San Marino, Gibraltar, Slovakia, Malta and Latvia.

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Compliance Updates

Malta Gaming Authority Publishes Directive on Rules Applicable to Amusement Machines and Low Risk Games

Niji Narayan

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Malta Gaming Authority Publishes Directive on Rules Applicable to Amusement Machines and Low Risk Games
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In exercise of the power conferred by article 7(2) of the Gaming Act, 2018 (Cap. 583 of the Laws of Malta) and regulation 4 of the Gaming Premises Regulations (S.L. 583.07), the Malta Gaming Authority has issued a Directive on the rules applicable to Amusement Machines and Low Risk Games (Directive 7 of 2019).

The aforementioned directive is applicable to premises in which the only games offered consist of amusement machines and, or low risk games and provides further clarity in relation to the requirements which are applicable to such games.

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Compliance Updates

Malta Gaming Authority Publishes Enhanced Automated Reporting Platform Directive

Niji Narayan

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Malta Gaming Authority Publishes Enhanced Automated Reporting Platform Directive
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The Malta Gaming Authority has published Enhanced Automated Reporting Platform (Land-Based) Directive (Directive 6 of 2019) which establishes the requirements around the application of the Authority’s automated reporting system applicable to casinos and controlled gaming premises, as well as providers of critical gaming supplies to the same.

Qualifying entities under Directive 6 of 2019 are required to take all the necessary action to ensure that they have systems in place capable of generating reports in the format and frequency required by the same by the 30 November 2020.

The Enhanced Automated Reporting Platform is a tool which will allow the MGA to receive standardised data on a daily basis from land-based casinos and controlled gaming premises.

The Directive has cleared the European Commission’s TRIS process envisaged under Directive 2015/1535. The data set used in Directive 6 of 2019 is based on the Technical Reporting Standard currently being developed by CEN Technical Committee 456 for the European Commission, and in which Malta is actively participating.

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