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Anti-Money Laundering Guidance Notes

All licensees of the Betting, Gaming and Lotteries Commission (Commission) have a responsibility to not allow their businesses to be used by criminal elements to launder the proceeds of crime. However, gaming lounge operators have additional and specific responsibilities under the Proceeds of Crime Act and the Proceeds of Crime (Money Laundering Prevention) Regulations. The Commission has been designated the Competent Authority under POCA. As the competent authority, the Commission has a duty to supervise gaming lounge operators to ensure that adequate measures are in place to prevent the gaming lounges from being used for money laundering and terrorism financing and to aid them in detecting money laundering. The Commission has powers to issue directives to gaming lounge operators and issues this guidance note in that light. The purpose of the guidance note is to provide detailed guidance on the requirements of POCA and practical guidance on how to implement such requirements into their daily operation. The Commission uses a risk based approach to supervising gaming lounges; as such, it intends to issue periodic directions to licensees to supplement this guidance note as money laundering risks evolve. However, all guidance notes issued, must be read in conjunction with the relevant legislations.