What is Anti-money laundering?
Anti-money laundering (AML) refers to the laws and controls that require gambling operators to prevent criminal money being disguised as legitimate funds through gambling.
Casinos and betting firms can be used to launder money, for example by depositing criminal proceeds, gambling a little and withdrawing the rest as apparent winnings. AML rules require operators to assess risk, verify customers, monitor transactions, check where funds come from, keep records and report suspicious activity to authorities.
In the UK, casinos are covered by the Money Laundering Regulations 2017, while EU rules flow from a series of AML directives. Gambling regulators frequently fine operators for weak AML controls, often in cases involving a single customer who spent large sums without checks.
AML is one of the most common grounds for regulatory enforcement in the sector. Suspicious activity reports are filed with national financial intelligence units, such as the National Crime Agency in the UK.