Wednesday, June 12, 2024

GREF launches new anti-money laundering working group

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The Gambling Regulators European Forum (GREF) board has announced a new working group on anti-money laundering to improve exchange of information among members.

GREF said the group will encourage collaboration between members on matters related to anti-money laundering. 

The organisation added that efforts will focus on strengthening the integrity and credibility of the industry. Members will share insights into best practice, trends and developments, as well as consider any necessary joint action.

The new group marks the fifth addition to the existing working groups established by GREF. It joins groups on responsible gambling, digital and innovation, InfoStat and enforcement working groups.

Christophe Vidal of France’s National Gambling Authority (ANJ) and Rachel Bezzina from the Malta Gaming Authority (MGA) will serve as co-chairs.

On the back of the appointment, the MGA declared its support for the initiative, saying the group will help address concerns across a number of markets.

“Although AML regulations exist at European Union level, implementation at the local level varies across jurisdictions,” the MGA said. “The new AML working group seeks to facilitate the exchange of information between members in order to prevent the exploitation of gaming businesses for money laundering and terrorist financing purposes.”

GREF partners North America Gaming Regulators Association 

The new group comes after GREF last month also entered a partnership with the North America Gaming Regulators Association (NAGRA).

GREF and NAGRA will work together to exchange knowledge and information on regulatory matters. 

The collaboration includes GREF and NAGRA holding joint meetings of their relevant interest groups. Both organisations will support each other’s annual conferences, while the bodies will host seminars for members on emerging regulatory risks.

The partnership brings together approximately 100 regulating organisations from across Europe and North America.

MGA cancels AMGO iGaming Malta licence

In other news, the MGA has cancelled the B2C gaming licence of AMGO iGaming Malta. This comes after it ruled the operator breached a series of regulations.

AMGO was found guilty of three core breaches, two of which were in relation to failing to pay required licence fees. The operator was warned last month that it could lose its licence over the matter.

AMGO had been offering online casino and sports betting across a number of brands under its Malta licence. These sites include Gigapotti.com, Dragonaraonline.com, Pwr.bet, Jetbull.com and Fantasino.com.

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