De Kansspelautoriteitt Publishes Third Version of Wwft Guidelines

December 23, 2023 | money-laundering
THE HAGUE, NL (December 20, 2023) —  De Kansspelautoriteitt (Ksa) (The Dutch Gaming Authority)  has adjusted its Wwft guidelines. The last changes to the guidelines dated from the entry into force of Koa on April 1, 2021. A new version has now been drawn up based on our own research, signals from consumers and suggestions/questions from license holders.

The Money Laundering and Terrorist Financing (Prevention) Act (Wwft) applies to both online and land-based gambling providers. According to the Wwft, gambling providers must, among other things, monitor their customers’ transactions and report unusual transactions to the Dutch Financial Intelligence Unit (FIU).

In the document, the Ksa provides gambling providers with tools to comply with the obligations arising from the Wwft. The amended version of the Wwft guideline includes a step-by-step plan for investigating the source of a player’s resources, including examples.

Before finalizing the guidelines, the Ksa submitted the guidelines to and received responses from various stakeholders, including other supervisors such as DNB, the Dutch FIU, law firms, providers and industry associations. This consultation revealed, among other things, that the research obligations in the context of the prevention of gambling addiction and Wwft client research were sometimes too intertwined, which caused confusion. This has been resolved in the now published version.

SOURCE: Kansspelautoriteitt.

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