GREF Launches Anti-Money Laundering Working Group to Foster Global Regulatory Collaboration

The Gambling Regulators European Forum (GREF) has taken a significant step in enhancing regulatory cooperation with the establishment of a new working group dedicated to anti-money laundering (AML). This initiative, spearheaded by the association of European gambling regulators, aims to bolster the integrity of the gaming sector through improved information exchange and collaboration among member countries.

In a pivotal move to combat financial crimes in the gambling industry, GREF introduces a specialized AML working group, marking a new era of international regulatory cooperation.

Chaired by Christophe Vidal of France’s National Gambling Authority (ANJ) and Rachel Bezzina from the Malta Gaming Authority (MGA), this new group will facilitate the sharing of best practices and developments in AML strategies among its members. The focus is on fostering a united front against money laundering and terrorist financing within the gaming industry.

The creation of this working group is a response to the diverse implementation of AML regulations across the European Union. By promoting a unified approach and sharing valuable insights, GREF aims to reinforce the sector’s integrity and prevent the exploitation of gaming businesses for illicit purposes.

Stay informed about the progress and insights from this collaborative effort. As the working group evolves, it will offer valuable perspectives and strategies for effectively tackling AML challenges in the gambling industry.

In addition to sharing best practices, GREF members may consider potential joint actions in the AML arena, highlighting the group’s commitment to proactive and collaborative regulatory measures.

The importance of this initiative is underscored by the MGA’s statement, which emphasizes the varied implementation of AML regulations across jurisdictions. The new AML working group seeks to bridge these gaps, facilitating a more coherent and effective approach to AML compliance and enforcement.

Moreover, GREF recently entered into a partnership with the North American Gaming Regulators Association (NAGRA), further expanding its collaborative reach. This alliance, encompassing around 100 gambling regulators from both Europe and North America, aims to foster knowledge and information exchange on a global scale.

NAGRA, comprising regulatory agencies from various levels of government across North America, and GREF, representing regulators from across Europe, envision a partnership that enriches both bodies through shared expertise and insights. This collaboration is poised to enhance the global regulatory landscape, ensuring more robust and harmonized approaches to gambling regulation and AML practices.