British Casinos Get New Money-Laundering Regulations

Law360, London (January 3, 2020, 3:42 PM GMT) -- The U.K.’s gambling regulator is preparing to issue guidance on how British casinos should plan to comply with new anti-money-laundering laws after their introduction next Friday.

The updated Money Laundering Regulations, which implement the European Union’s fifth Money Laundering Directive, will come into force on Jan. 10. The Gambling Commission on the same day will also publish the fifth edition of its guidance for remote and non-remote casinos on how to prevent money laundering and combat terrorism finance, which will come into effect on publication.

The guidance will require casinos to review their business amending their money-laundering and terrorist-financing risk assessments,...

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