The Netherlands gambling
regulatory authority Kansspelautoriteit (KSA) has signed a cooperation
agreement with the country’s financial watchdog, the Autoriteit Financiële
Markten, to fight money laundering and stop the financing of terrorism.
Signed yesterday by
representatives of each body, the agreement will help avoid
duplication of work and improve the quality of monitoring activities by
Each body will consult
with the other on matters that affect their tasks, including developments in
legislation, regulations, policies and interpretations of provisions in the
country’s acts on the prevention of terrorism financing and money laundering.
They will also
collaborate to uphold the Netherlands Betting and Gaming Act and the Act on
This will include the
exchange of information between the two bodies, such as when one opens an
investigation into a company which falls under the other’s jurisdiction.
The KSA and the AMF
will also review their cooperation agreement annually to ensure the agreement
complies with the two acts, with the original agreement to be reviewed after it
has been in force for five years.