UK: New AML licence conditions and guidance from the gambling commission


August 24 2016

Following an extensive consultation in 2015 on changes to the LCCP in relation to the prevention of crimes associated with gambling, and two short consultations in June 2016 on digital adverts and money laundering risks, the Gambling Commission has issued: (i) a publication detailing further amendments to the LCCP (available here), which will come into force on 31 October 2016; and (ii) updated guidance for remote and non-remote casinos on the prevention of money laundering and combating the financing of terrorism (available here), which comes into force immediately.

We have included below a summary of the key changes to the LCCP and the updated guidance. With these changes, it is clear that the Gambling Commission is focussing on operators’ responsibilities in the fight against the use of the gambling industry to facilitate criminal activity, and particularly money laundering and terrorist financing. Operators should be prepared for greater scrutiny from the Commission of their anti-money laundering and other related policies and procedures, and should ensure that new policies and procedures are put in place to comply with the requirements of the new licence conditions (described in more detail below).