The European Gaming and Betting Association has welcomed the confirmation of Frankfurt, Germany as the home of the European Union’s new European Anti-Money Laundering Authority.
“We look forward to collaborating with AMLA to ensure the representation of the gambling sector’s voice in future EU-level AML discussions and help contribute positively to the fight against money laundering,” said Dr. Ekaterina Hartmann, director of legal and regulatory affairs at the trade association said.
The AMLA, which will commence operations in mid-2025, will help create a standardised reporting template for Suspicious Transaction Reports.
Hartmann said this process will “really benefit gambling operators, particularly those who operate in many countries, because there are currently many different reporting formats across EU member states.”
“By implementing our AML guidelines, operators can also already be well positioned for the EU’s incoming AML rules and play their part in raising standards across the industry,” she added.
The AMLA is part of the ongoing reform of the EU’s anti-money laundering framework.
