The Danish Playing Authority, Spillemyndigheden, launched a reminder urging licensed playing operators to conduct enhanced due diligence checks for international locations gray-listed by the Monetary Motion Job Power (FATF).

Enhanced Due Diligence Checks Are Wanted

On Friday, the Authority reiterated that licensees must conduct enhanced buyer due diligence (EDD) to battle towards cash laundering and terrorism financing. These EDD checks can finally assist the licensed operators avert such points and guarantee compliance with the Danish AML act.
Spillemyndigheden’s newest announcement comes after not too long ago, the FATF up to date its grey checklist, a listing of nations which might be below elevated monitoring. The Job Power’s present grey checklist contains the next jurisdictions: Barbados, DR Congo, Burkina Faso, Haiti, Cayman Islands, Cambodia, Jamaica, Albania, Gibraltar, Jordan, Morocco, Mozambique, Mali, Panama, Philippines Senegal, South Sudan, Syria, Tanzania, Turkey, Uganda, Yemen and The United Arab Emirates. In accordance with the Danish regulator, operators should be further cautious with international locations on the FATF’s grey checklist and must conduct EDD checks for them.
“{That a} nation is listed on one of many FATF’s excessive threat lists doesn’t inherently require EDD to be performed however to be thought of as a threat issue, versus gamers from jurisdictions listed within the EU Regulation of Excessive Danger Third Nation checklist pursuant to artwork,“reads a press release launched by Spillemyndigheden
However, the FATF additionally has a number of jurisdictions inside its black checklist. At the moment, that checklist contains Iran, Myanmar and North Korea. These jurisdictions had been flagged by the FATF as considerably excessive threat the place adjustments should be carried out to make sure efficient AML rules and counter terrorism financing (CTF) insurance policies.
“The Danish Playing Authority attracts consideration to the truth that the FATF has up to date its Gray Listing (jurisdictions below elevated monitoring) and Black Listing (name for motion),”Spillemyndigheden added
Cambodia was one of many international locations that landed on FATF’s gray list. Ever since that occurred, the nation has initiated a crackdown on unlawful playing whereas looking for to show efficient AML and CTF practices. Placing down unlawful playing operations and raiding unlawful venues, Cambodia’s authorities demonstrated its intention to exit FATF’s grey checklist.
After the nation confirmed sturdy help for efficient CTF and AML practices, it requested the FATF to reassess its operations and if doable, to take away the nation from its grey checklist. It’s but to be confirmed when and if the Job Power will conduct additional evaluation of Cambodia and what the conclusion can be.

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