EGBA to update anti-money laundering guidelines to match EU regulations
The European Gaming and Betting Association (EGBA) has confirmed it will update its guidelines for anti-money laundering to meet new regulations set by the European Union.
Published in June last year, the new regulations cover both AML and counter-terrorism financing (CTF). EGBA has not updated its own guidelines since March 2023.
Stand-out points in the EU’s AML regulations include the establishment of the Anti-Money Laundering Authority to regulate activity. Other changes include specific provisions for the use of crypto-assets and reinforcing rules on transparency.
EGBA said it will work with its members to establish the new guidelines for 2026. It added some of its changes will be based on feedback gathered during its recent annual reporting process on AML.
According to the association, its guidelines apply a risk-based approach aligned with EU and Financial Action Task Force standards. It added it also seeks to address the specificities of online gambling that AML regulators may be less familiar with.
The most recent review marked the second time EGBA has carried out its annual monitoring process. It covers AML issues such as risk assessments, payments, outsourcing and sports integrity.
EGBA aiming to raise the bar on AML
Ekaterina Hartmann, director of legal and regulatory affairs at EGBA, said the update will enhance its commitment to strengthening AML compliance across Europe’s online gambling sector.
“We’re pleased to have completed the second annual reporting process,” Hartmann said. “I want to thank our members for their dedication to this collaborative initiative. Together, we’re aiming to raise the bar for AML compliance standards across our members and, by example, influence other operators across the industry to do the same.”
Hartmann added that EGBA is also seeking to work with non-members to improve its AML guidelines. She said operators not part of the association are invited to take part in the process.
“We encourage operators who aren’t members of EGBA to join this initiative and help strengthen the sector’s contribution to the fight against financial crime,” Hartmann said.