The Implications Of The 4th AML Directive On The Gambling Industry March 30, 2015

GamblingCompliance Regulatory Briefing

The Implications Of The 4th AML Directive (AMLD 4) For The Gambling IndustryMarch 30, 2015, London, UK

Hosted byOrganised by

Sponsored by

The Implications Of The 4th AML Directive On The Gambling Industry March 30, 2015

Overview:In February 2012, the Financial Action Task Force (“FATF” - an inter-governmental body developing and promoting policies to combat money laundering and terrorist financing) issued recommendations regarding the prevention of money laundering and terrorist financing. In response, the EU prepared a draft Fourth Anti-Money Laundering Directive (“AMLD 4”) to update the Third Directive and implement FATF’s recommendations. In some areas the draft provisions of AMLD 4 go further than FATF’s recommendations, showing the EU’s intention to become a pre-eminent example of anti-money laundering.

The use of the gambling sector to launder the proceeds of criminal activity was identified as a particular concern within the EU. AMLD 4 is being introduced to mitigate the risks related to the sector. Following the meeting on December 16 2014, the European Gaming & Betting Association announced that the entire online gambling sector will be included in the scope of AMLD 4. The directive will therefore unify the AML rules for online gambling services throughout Europe. It also means that the AML rules will be extended from applying to just casinos (as is currently the case) to all online gambling providers. While this will inevitably assist the fight against money laundering, it does mean additional burdens for the online gambling sector.

The directive specifically covers “providers of gambling services” and “gambling services” are defined as “any service which involves wagering a stake with monetary value in games of chance including those with an element of skill such as lotteries, casino games, poker games and betting transactions that are provided at a physical location, or by any means at a distance, by electronic means or any other technology for facilitating communication, and at the individual request of a recipient of services”.

The directive imposes an obligation for all providers of gambling services to conduct customer due diligence for single transactions of €2,000 or more and member states are asked to consider applying this threshold to the collection of winnings as well as wagering a stake. The directive also notes that providers of gambling services with physical premises (e.g. casinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.

This GamblingCompliance Regulatory Briefing will look at what AMLD 4 will mean for the gambling sector, tracing its origins at FATF and the reasons behind it, but then looking at the practicalities of the directive – how it will be enforced by the people charged with this responsibility from a regulatory perspective, and what it will mean for the gambling operators, payment service providers and third party technology companies servicing the gambling industry which fall under its remit.

Current Sponsors: Headline Sponsor:

The Implications Of The 4th AML Directive On The Gambling Industry March 30, 2015

Time Speaker Subject

10:30 Registration & Coffee

11:00 Chair - Lina Sennevall - GamblingCompliance Welcome Address

Morning Session - The Regulatory Landscape

11:05 FATF - InvitedThe Origins of AMLD 4 - The Risk-Based Approach, Customer Due Diligence and Politically Exposed Persons

11:25 EGBA - Erwan Bertrand, Policy Advisor How Online Gambling Came To Fall Under AMLD 4 - What Happened In Brussels?

11:45 The UK Gambling Commission - Tim Tyler, AML lead

Regulatory Update - how AMLD 4 Will Potentialy Be Enforced (UK)?

12:15 Panel: Moderator - Lina Sennevall - GamblingCompliance

FATF (Financial Action Task Force)

EGBA (European Gaming & Betting Association) Erwan Bertrand, Policy Advisor

The UK Gambling Commission - Tim Tyler - AML lead

Monica Monaco, Trust EU Affairs

13:15 LunchAfternoon Session - The Industry Perspective

14:15 Clyde & Co LLP - Julian Connerty - Partner Legal Perspective - What Online Operators Need To Do To Comply

14:45 RGA - Clive Hawkswood, Chief Executive Implications For Online Operators

15:00 paysafecard.com/PIF AML Working Group Chairman - Dr Hartwig Gerhartinger What The Directive Means For PSPs

15:15 Coffee Break

15:45 Panel: Moderator - Lina Sennevall - GamblingCompliance

Discussion On The Implications Of AMLD 4 By The Industry

paysafecard.com - Dr Hartwig Gerhartinger, Legal counsel

MGE Consulting, Michael Ellen

Betfair - David Norman, Head of Integrity, Insider Threat & AML/MLRO

RGA - Clive Hawkswood, Chief Executive

Kinetic Partners - Monique Melis - Partner & Global Head of Consulting

17:00 Closing Remarks and Drinks Reception

18:30 End of Conference

Conference Programme

The Implications Of The 4th AML Directive On The Gambling Industry March 30, 2015

Programme Highlights: • Milestones – Due dates for the roll-out of the directive.• Applications – Details of all the organisations who will fall under the new directive.• Possible sanctions – Public censure, cease and desist orders, withdrawal of authorisation to carry out designated activities and financial penalties.

Pricing: Early bird rate: £295 (until Feb 28, 2015) (Finished)Standard rate: £395 (from March 1, 2015)Onsite rate: £495 (from March 27, 2015 onwards)

NB: Special rates are available for subscribers to GamblingCompliance and PaymentsCompliance – Please contact Shane Mortimer, Sales Manager, on +44 (0)207 921 9980, email: info@gamblingcompliance.com or visit www.gamblingcompliance.com/gcrb

Sponsorship:For a full range of sponsorship opportunities please contact David Roberts, Marketing & Events Director on +44 (0)207 921 9980 or email: davidr@gamblingcompliance.com

Location:Clyde & CoThe St Botolph Building, 138 Houndsditch, Central London, EC3A 7AR

Who will you meet?Legal counsels, heads of compliance, fraud, risk and payment, MLROs, AML consutants, regulators, EU policy advisors, lawyers, gambling operators, payments service providers, technology suppliers to the gambling and payments industries.

About UsGamblingCompliance is the leading provider of independent business intelligence to the global gambling industry, specialising in legal, regulatory, political and market data, bespoke research and eLearning. We help gaming operators, regulators, advisors and analysts to make sense of the complex and rapidly changing regulatory environment.Subscribers to GamblingCompliance receive daily industry-shaping news, analysis and data to build the fullest possible picture of changes taking place across online and land-based gaming. Our in-house team of editors and lawyers, and team of commissioned experts, provide detailed and impartial content to help you be more informed within your business.