KSA Introduces New AML Compliance Guidelines for Dutch Operators

The Kansspelautoriteit (KSA), the Dutch gambling regulator, has released new guidelines to aid operators in adhering to the Netherlands’ Money Laundering and Terrorism Financing Prevention Act. This update comes in response to several recent amendments to the Act and aims to clarify the responsibilities of operators in maintaining compliance.

KSA revolutionizes AML compliance! New guidelines issued for Dutch operators to navigate the complex landscape of money laundering and terrorism financing prevention.

The KSA’s updated guidelines are the result of extensive research, feedback, and inquiries from licensees. They encompass crucial areas such as risk management, customer due diligence, reporting suspicious transactions, record-keeping, and the enforcement of regulatory measures. Notably, the guidelines introduce new obligations for monitoring and intervening in cases of gambling addiction or compulsive gambling among customers.

These guidelines aim to resolve confusion among operators, particularly regarding the overlap between monitoring for gambling harm and fulfilling duties under the Money Laundering Act. By providing clear and comprehensive guidance, the KSA seeks to ensure that operators effectively manage risks and adhere to regulatory requirements, ultimately safeguarding the integrity of the Dutch gambling market.

Operators in the Netherlands should familiarize themselves with these new guidelines to ensure full compliance. Staying updated and adhering to these regulations is crucial for maintaining a responsible and compliant gambling environment.

In September, the KSA highlighted the importance of these guidelines when it issued notifications for the first time relating to breaches of the Money Laundering and Terrorism Financing Prevention Act. Operators Betent and PlayNorth Limited were found to have taken insufficient steps to meet their obligations, prompting a thorough investigation by the KSA.

The investigation required the operators to provide examples of customer investigations, leading to findings of inadequate risk analysis and improper retention of customer ID numbers. Most recently, the KSA imposed a significant €3 million fine on Entain-owned Betent for anti-money laundering and terrorist financing failings at its BetCity brand.

As the Dutch gambling market evolves, the KSA’s new guidelines play a critical role in ensuring that operators maintain high standards of compliance, particularly in the areas of anti-money laundering and the prevention of terrorism financing. This proactive approach by the KSA exemplifies its commitment to creating a safe, responsible, and well-regulated gambling environment in the Netherlands.