EGBA To Revamp Anti-Money Laundering Guidelines by 2026
The European Gaming and Betting Association (EGBA) has announced an upcoming overhaul of its anti-money laundering (AML) guidelines, set to align with fresh regulatory frameworks introduced by the European Union. This update is anticipated to roll out in 2026.
Last June, the EU released new regulations integrating both AML measures and counter-terrorism financing (CTF) protocols, creating a comprehensive approach to financial security. Notably, these regulations include the formation of the Anti-Money Laundering Authority, which will oversee compliance, alongside enhanced rules regarding cryptocurrency and a stronger emphasis on transparency.
EGBA has not revised its guidelines since March 2023 and is now working closely with its member organizations to incorporate these new regulatory standards. The association plans to draw on insights from its recent annual AML reporting process to inform its revisions.
The guidelines promote a risk-based approach consistent with EU directives and the standards set by the Financial Action Task Force (FATF). Additionally, they aim to address the unique challenges posed by online gambling, which may not always align with traditional AML frameworks.
This upcoming review marks EGBA’s second annual assessment of AML practices, which examines critical areas such as risk evaluations, payment methods, outsourcing considerations, and the integrity of sports.
Raising Standards in AML Compliance
Ekaterina Hartmann, EGBA’s director of legal and regulatory affairs, emphasized that the revised guidelines will further strengthen the organization’s commitment to improving AML compliance in Europe’s online gambling landscape.
“We’re delighted to have completed our second annual reporting review,” Hartmann stated. “I extend my gratitude to our members for their unwavering support in this collaborative effort. Our aim is to elevate AML compliance standards within our member organizations and inspire other operators to follow suit.”
Furthermore, Hartmann expressed a desire to extend collaboration beyond current members, inviting non-member operators to contribute to refining EGBA’s AML guidelines.
“Operators not yet affiliated with EGBA are encouraged to join us in this initiative, enhancing the industry’s collective role in combating financial crime,” she added.
By welcoming broader participation, EGBA aims to foster a unified front against illicit financial activities within the online gambling sector.