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Dutch gaming regulator & finance authority partner to better combat money laundering

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 organisation.

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 Financial Superivison.

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.

GamingIntelligence

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