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State regulated lotteries and sports betting operators must adhere to different regulations, including international, regional, and national, in order to help countries tackle illicit financial flows.
The WLA Anti Money Laundering (AML) Best Practice Guide was developed to assist members in understanding money laundering risks, and to be proactive in tackling them, by implementing effective measures to prevent money laundering.
The Guide began with a case study from WLA Member Loterie Romande, which provided an update of Swiss national regulations, and the key AML measures currently in place at the lottery. New case studies have been added to expand the coverage to different global regions.
Asia
The Hong Kong Jockey Club (HKJC) case study describes the general and regulatory situation, HKJC betting model, AML challenges faced, including illicit markets and other financial crime threats and how it addresses these.
Latin America
The Ibero-American Corporation of State Lotteries and Betting (CIBELAE) and its Technical Commission on the Prevention of Money Laundering and Terrorist Financing have worked to develop a certifiable standard known as the Technical Standard for the Prevention of Money Laundering and Terrorist Financing Applied to the Games of Chance Sector.
CIBELAE has partnered with the digitalRG.com Platform, used for WLA Responsible Gaming certification, to create a tool to help organizations review their processes, strengthen their controls, identify gaps, and build internal capabilities, thereby fostering increasingly robust, risk-based, and proactive management. Access to the certification module is included in CIBELAE membership at no additional cost.
Expanding the Guide
The AML Guide is a living document, which aims to assist members anywhere in the world with AML and related activities. The WLA would welcome further case studies from all regions.
