New anti-money laundering guidance for land based and online betting has been launched today, helping to ensure bookmakers remain at the forefront of addressing and preventing money laundering.
Developed by the Gambling Anti-Money Laundering Group (GAMLG), the new best practice guidelines aim to ensure the identification, reporting and mitigation of risks, both for betting shops and for online gambling operators.
While the gambling sector has formally been classified by the Government as being of low risk, the industry remains focused on combating financial crime and are constantly reviewing policies and guidance to ensure that the industry remains low risk.
The best practice document is aimed at setting common standards across online and retail betting operators to assist staff in spotting potential fraudulent activity, developing a clear reporting process, and more generally raising awareness for all levels of staff, from customer-facing staff through to those at board level.
Keith Bristow, GAMLG Chairman, said:
“This new best practice document aims to ensure the identification, reporting and mitigation of money-laundering risk across the retail and online betting sectors. It’s publication will raise awareness of the work being undertaken to mitigate money laundering risk and ensure that lessons from the sector are shared with other industries working to tackle the issue”.
GAMLG was established in 2016 by the Association of British Bookmakers and the Remote Gambling Association to deliver a commitment to keep the gambling industry crime-free and to encourage high standards of integrity.
About Keith Bristow, Chairman, GAMLG
Keith Bristow has been the Chairman of GAMLG since its inception in 2016. He was previously Director General of the National Crime Agency, the body charged with leading the UK’s fight to cut serious and organised crime.
Full biographical details can be obtained here: https://www.gamlg.org/about-keith-bristow