Further improvements to the authorised ‘Remote Gaming Act’ (KOA Act) have been added by Dutch gambling regulator Kansspelautoriteit (KSA) as it moves to open the country’s online gambling licensing window from 1 April 2021.
KSA confirmed that it had approved ‘wwft guidelines’ to be applied to the KOA Act as a way of improving the mandate of the law on money laundering prevention and terrorist financing.
The decision would see the implementation of wwft guidelines and reporting measures to all operators issued by KSA online gambling licenses.
Previous regulations had seen wwft requirements apply exclusively to the AML reporting duties of 14 land-based assets of state-owned Holland Casino.
Established by the IMF in 2010, the wwft guidelines are a compilation of ‘statutory tasks’ that the monetary agency encourages governments to follow as a standard enforcement requirement to tackle global AML and criminal financing risks for companies in ‘high-risk’ sectors.
KSA confirmed that it would provide tools and reporting functions to approved parties to comply with the current wwft provisions of the KOA Act.
“The amended Wwft Guideline was submitted to a number of parties for consultation at an earlier stage,” it said. “The responses were used to clarify parts of the wwft Guideline, including user identification and verification, crediting and debiting of gaming accounts without undue delay and at the exact moment in which a business relationship is agreed.”
‘Special consideration’ for possible risks
KSA announced that it had put ‘special consideration’ for possible risks and AML complexities involved in ‘match-fixing’ as a gambling-related hazard, providing more information about its AML amendments.
Going forward, the ‘KOA decree’ would clarify all wwft responsibilities, providing licensed parties with detailed specifications on their AML duties.