Lithuania Announces New Rules for Gambling Operators
Lithuanian Gambling Supervision Service has developed guidelines called "know your customer". The new rules are intended to reduce the risk of money laundering in the industry.
The Treasury Department said the guidelines set out factors that gambling and lottery companies should take into account when evaluating relationships and transactions. According to the authors of the project, they should reduce the risks of money laundering and terrorist financing.
In particular, operators must check all customer registration locations to see if they have resided in a country that the European Commission considers to be "high risk for the spread of terrorism". Visitors identified in this way will require enhanced identification and verification of the source of their assets and funds.
The new regulation requires all players to be classified into risk categories in accordance with criteria such as the size of the transactions carried out, the volume of services, past suspicious transactions, attempts to present a non-identifying document, and actions to avoid registering or identifying transactions.
The guidelines state: “A company should try to obtain as much information from the client as possible . It must be assembled carefully and carefully checked. Also, this information must be kept confidential. They will be protected in accordance with the law.”
Recall that in Russiathey approved the law on the identification of casino customers.