The EU’s new anti-money laundering package aims to create a more consistent regulatory framework and will benefit online gambling operators by standardising AML rules and reporting requirements across member states.

Brussels, 24 April 2024 – The European Parliament has approved the EU’s new anti-money laundering (AML) package at its plenary sitting today, marking a significant milestone towards a new EU framework for combatting financial crime. The European Gaming and Betting Association (EGBA), representing Europe’s leading online gambling operators, welcomes the Parliament’s approval of the new AML package and believes the incoming rule changes will strengthen the EU’s approach to tackling money laundering.

The new package will contain:

• A single rulebook regulation – with provisions on conducting due diligence on customers, transparency of beneficial owners and the use of crypto-assets.
• The 6th Anti-Money Laundering Directive – containing national provisions on supervision and national AML authorities, as well as on the access of authorities to necessary and reliable information, e.g. beneficial ownership registers.
• The establishment of the European Anti-Money Laundering Authority (AMLA) – which have supervisory and investigative powers to ensure compliance with AML requirements, operating in conjunction with national AML authorities.

EGBA believes the new rules will benefit Europe’s online gambling operators by ensuring a consistent regulatory approach across EU member states. Another important feature, under the competence of AMLA, will be the creation of a harmonised reporting format for Suspicious Transaction Reports (STRs). This will ensure that Europe’s online gambling operators encounter the same STR requirements across all EU member states, thereby setting clear and consistent expectations that will reduce administrative burdens and costs.

To assist online gambling operators in complying with the EU’s new AML rules, EGBA has developed industry-specific guidelines on anti-money laundering which apply a risk-based approach and include practical measures that operators can take – on customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record keeping. EGBA members already apply the guidelines and submit annual reports to EGBA that summarise their progress in implementing its measures. The guidelines are also open to all operators based in the EU and EGBA encourages operators to sign up to them.

The AML package now awaits formal adoption by the Council of the EU, expected in May, before being published in the EU’s Official Journal.

“We welcome the European Parliament’s approval of the new anti-money laundering package. The new framework will set high standards and ensure greater consistency in the application of AML rules across the EU. Online gambling operators, especially those operating in multiple countries, will benefit from a single rulebook and harmonised reporting requirements that will unravel national complexities. We will look to review our industry guidelines on AML to ensure their alignment with the new EU rules. By signing up to the guidelines, operators can already prepare themselves for the incoming changes in the EU rules and join our members in their efforts to proactively and positively contribute to the EU’s fight against money laundering.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs, EGBA.

Source: EGBA

The NSW Independent Casino Commission has found Crown Sydney suitable to retain its casino licence after nearly three years of intensive remediation.

Chief Commissioner, Philip Crawford, said Crown has come a long way and must now demonstrate its long-term commitment to maintaining suitability.

“The NICC is confident the Crown we deemed suitable today has a strong model to keep operating into the future,” Mr Crawford said.

The NICC’s suitability assessment established that Crown Sydney has fundamentally reformed its business and is operating the casino within the objects of the Act, the requirements of the suitability deed, and in compliance with its regulatory obligations.

In addition to proving it can run the casino lawfully, Crown has remediated its business in other meaningful ways such as building a culture of transparency and accountability across its integrated resort.

“Hard work and transformation aside, the NICC has not forgotten the level of misconduct exposed in 2021 when Crown was found unsuitable,” said Mr Crawford.

“Crown Sydney has ongoing work to reach steady state and it must continue to lift standards and maintain its cultural transformation.

“There is and will always be room for improvement, but Crown is a changed business that is looking toward the future.

“Likewise, the NICC is a changed regulator with enhanced powers, a singular focus on casinos, and a mandate to address the risks of harm.

“This decision is a positive outcome for Crown Sydney, its staff, and the community – who can be sure the NICC will use all of its powers to keep the casino in check.”

In addition to the implementation of hundreds of new internal controls, the Bergin-based reforms have been reflected in a new licence and new regulatory agreement between Crown Sydney, the NSW Government and the NICC.

These agreements include updated settings, such as the removal of fetters to the NICC’s powers, as well as previous compensation trigger clauses that are no longer part of the casino legislation.

Mr Crawford said: “Crown cannot disregard the responsibility and privilege that comes with holding a casino licence. Crown Sydney’s ability to provide a destination hospitality and entertainment venue underpinned by the restricted gaming facility is contingent on its steadfast commitment to continuing suitability, accountability and compliance.”

Liquor & Gaming NSW is urging licensed venues across the state to plan ahead and have proper measures in place to ensure safe and responsible ANZAC Day commemorations.

Pubs and clubs can face additional challenges on April 25 that come with managing larger than normal crowds and the playing of two-up.

Two-up was a popular game among World War I veterans and, while illegal as an unregulated form of gambling most of the year, is legally played every ANZAC Day, Remembrance Day and Victory in the Pacific Day in their memory.

Liquor & Gaming NSW Executive Director Regulatory Operations, Jane Lin, said inspectors would carry out checks of licensed premises in Sydney and regional areas on ANZAC Day to ensure compliance with the state’s liquor and gaming laws.

“Two-up is a great Australian tradition and a way for people to come together at pubs and clubs to enjoy the ANZAC spirit,” Lin said. “While venues do not need a permit to host two-up, they are encouraged to fully understand and observe the traditional rules of the coin-tossing game.

“Licensed venues are reminded to properly manage potential risks linked to larger crowds, increased rates of intoxication, gambling disputes, extended high volume trading and special ANZAC Day liquor promotions.”

Venues’ advertising and promotions must align with liquor promotion guidelines.

More information about ANZAC Day in New South Wales is available at https:/ /www.NSM.gov. au/about-nsw/anzac-day-nsw. Two-up rules can be found at https:/ /www.LiquorAndGaming.nsw. gov. au/__data/assets/pdf_file/0007/858562/fs3098-two-up-factsheet. pdf.