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 Article 
Source
Online Gambling Lawyer
Date
07 April 2017

Nicola Bridge talks to Online Gambling Lawyer

The UK Government’s HM Treasury published on 15 March 2017 a draft of the Money Laundering Regulations 2017 (‘MLRs’), which seeks to transpose the requirements of the EU 4th Anti-Money Laundering Directive (‘4MLD’) into UK law, alongside a consultation on the matter; of particular note for gambling operators is Treasury’s decision to exempt all gambling service providers from the 4MLD’s requirements, except for remote and non-remote casinos.

“While the gambling industry can count itself as somewhat lucky for present purposes, the position will be reviewed on an annual basis and so there is no room for complacency,” said Nicola Bridge, Partner at Mishcon de Reya LLP. “It was made clear that there is a need to further raise standards and the Government has emphasised that if in any subsequent assessment any sector is assessed as being higher risk, the exemptions could be removed.”

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