Spanish Operators Face Tighter Anti-money Laundering Requirements

SPANISH OPERATORS FACE TIGHTER ANTI-MONEY LAUNDERING REQUIREMENTS

10th May, 2014 at 04:42:03
Source: http://www.azonlinecasinos.com

Audits and KYC player verification on pay-outs in excess of Euro 2,500.

Spanish online gambling operators, already burdened with bureaucratic reportage and high taxation requirements, have been advised that tighter anti-money laundering regulations must now be applied.

These include the identity verification of any player receiving a pay-out of more than Euro 2,500; measures to check up on repeated winners and to better uncover suspicious player activity; and the compulsory use of external annual audits to ensure compliance.

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