The Proceeds of Crime Act (POCA)
The Proceeds of Crime Act (POCA) was passed by Parliament in 2007. It replaced the Money Laundering Act (MLA) and is among legislation passed by the Government in recent years to combat financial crime.
The act should provide for the investigation, identification, and recovery of the proceeds of crime and for connected matters.
Anti-Money Laundering Guidance Notes
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 legislation.