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Anti-money Laundering

POSITION PAPER Preventing money laundering in the licenced land-based casino industry

Status: December 2019

The licenced land-based casino industry is committed to combating money laundering in the most effective and efficient way. The members of the European Casino Association (ECA) are determined to take strong action to tackle the threat posed by money laundering and ensure compliance with the highest international standards and the applicable legislation. The ECA emphasises that it represents and supports a transparent gambling industry that makes concerted efforts to tackle any criminal activity.

1. Current situation

In the European Commission’s supranational risk assessment on money laundering – published in July 2019 – the licenced land-based casino industry’s strong and efficient framework against money laundering was clearly recognised. In the European Commission’s analysis, the vulnerability was assessed as moderately significant – the second-lowest level. The report states that from competent authorities’ point of view, fit and proper checks are mitigating the main vulnerability for casinos. According to the report “The inclusion of casinos in the list of obliged entities earlier on in the EU AML legislation has helped the sector to become more aware of risks. The legal framework already in place for casinos has, for example, created incentives to train staff and to improve checks. Casino staff is regularly informed of, and trained to identify, patterns and behaviours considered to represent money laundering threats.” This demonstrates that the processes and measures that the licensed land-based casino industry has implemented have substantially increased in their effectiveness to prevent and tackle money laundering.