What impact will the new money-laundering regulations have on the gambling sector? Jane Jee, CEO of Kompli-Global, attempts to answer that question.
MONEY-laundering exploits vulnerabilities in financial systems, allowing for anonymity when carrying out financial transactions. Serious and organised crime costs the UK at least £24bn every year.
The European Union’s fourth Money Laundering Directive (4MLD) was mandated to come into effect in all EU member states last month. This has been adopted under the Money Laundering Regulations 2017 in the UK, which came into effect on June 26.
