The European Gaming and Betting Association (EGBA) has once again voiced its support for the EU’s new anti-money laundering framework to help combat financial crime.

Approved by the European Council on 30 May, the new AML legislation will initiate the implementation of a new European Anti-Money Laundering Authority (AMLA), tasked with the supervision of AML compliance across member states.

A new harmonised reporting format for Suspicious Transaction Reports (STRs) will be established under the AMLA’s supervision, creating a level compliance basis for online gambling operators across all EU member states.

According to EGBA, the incoming measures will help the European gambling sector build a stronger approach against money laundering in the region.

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