British Gambling Commission publishes updated anti-money laundering guidance

On 31 December 2018, the Gambling Commission published updated anti-money laundering guidance for remote and non-remote casinos, “The prevention of money laundering and combating the financing of terrorism”.

According to the Commission’s press release, the principal purpose for the update is to incorporate changes relating to the reporting of Suspicious Activity Reports where the remote gambling equipment used in a transaction which is known or suspected to involve money laundering is located in Gibraltar and involves a British customer. Specifically, the guidance provides that such activity must be reported by operators to both the Gibraltar Financial Intelligence Unit and the UK Financial Intelligence Unit.

The updated guidance entered into effect on 1 January 2019.