Key Takeaways
- UKGC issues 2nd edition of its money laundering guidelines.
- The 51 page document embodies light touch regulation and provides comprehensive and workable guidance for implementing the EU rules.
- Identity verification should pose no additional burdens to major operators returning to UK under the forthcoming licensing regime.
- Bulgaria is also updating its money laundering laws – with a two paragraph amendment.
The UK Gambling Commission (UKGC) has adhered to its light touch regulation mantra in issuing not rules, but guidance in implementing the EU Anti Money Laundering Directive (AML).
