KSA has amended the Act on the Prevention of Money Laundering and Terrorist Financing in response to the legalisation of online gaming
The Dutch Gaming Authority, KSA, has amended the Wwft Guideline ahead of the entry of the Remote Gaming Act on April 1 2021. Online games of chance will also be subject to The Act on the Prevention of Money Laundering and Terrorist Financing (Wwft).
Currently, the provisions of the act only apply to the land-based Holland Casino, the only licence holder in the Netherlands that offer casino games.
With the legalisation of online gaming, the KSA has decided to modify existing guidelines by providing the necessary tools to online gaming providers to comply with Wwft.
The Wwft Guideline is there to be used as a guide for applicants that want an online gaming licence, the applications can be submitted to the KSA from April 2021 onwards.
Prior to publishing, the revised Guideline was sent out to a number of parties for consultation and feedback was received to clarify any queries or issues on the subjects of identification and verification, crediting and debiting the gaming account without undue delay.
The significant change that was implemented in the amended guide, after consultation, was the decision to add match fixing risk.
The Gaming Authority KSA will ensure that Holland Casino, and in future, the licensees for online games comply with the Wwft.
Offered in 10 key languages, SiGMA is the only events and media company that brings you round-the-clock coverage of this growing global phenomenon from reporters all around the world, with content covering everything from podcasts to in depth interviews and thought leadership articles. SiGMA believes in regulated and responsible gaming and are advocates for regulation worldwide – which is why they’ve built solid relationships with authorities like MGA, Coljuegos, PAGCOR, and other leading stakeholders.