Kansspelautoriteit (KSA), the gambling watchdog in the Netherlands has released a draft of anti-money laundering regulations (in dutch) that have been put together to prevent money laundering in the country. The AML draft also has provisions in it to stop financing of terror. 3f51l

The KSA has released this set of AML guidelines for land based casinos and online casinos in the country. The land based casino industry is controlled by Holland Casino while the online casino industry is yet to launch operations in the country 

The ban on online gambling was lifted in Feb 2019 after legislators approved the Remote Gambling Act. These new laws are expected to be rolled out by July 1, 2020 provided they get the approval of the Ministry of Justice and Security. 

Once these laws are rolled out, the KSA will release the process and conditions that need to be met for the issuance of online casino licenses. iGaming operators expect to have their online casinos up and running if everything goes to plan by Jan 1, 2021.  

The KSA has made it clear that the draft set of AML guidelines is not mandatory but has advised land based and online casino operators to bear them in mind and design their process and procedures to comply with these AML guidelines. The AML guidelines have been put together to protect players and operators from being exploited and exposed to criminal activities.

The operators who could receive some exemption from these AML rules are sports betting, slot machine and lottery operators. 

KSA AML Guidelines  615239

Some of the guidelines outlined in the AML draft report state that licensees should have an AML policy in place and ensure that they get updated on a regular basis to comply with current regulations and technology advancements. The KSA wants all operators to carry out KYC checks on all players so that the operator has more control over their transactions and can jump in if they feel a player is succumbing to gambling addiction.

Operators should take on the responsibility of carrying out further checks on players who they feel are not being honest with their ID or players who they think are engaging in money laundering activities. 

Any player who deposits or withdraws more than €2,000, must have their background checked before the transaction can be approved. If a player is unable to provide per identification or if the verification fails, the operator must not process any transactions and end their relationship with the player.