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Tuesday
Sep072010

RGA Has New Anti-Money Laundering Guidelines in Place

Most people are aware that online gambling is big business nowadays.  But it also comes with some inherent problems, such as the ease with which money laundering can take place for those who know what they are doing.

This is why the Remote Gambling Organisation (RGA) has created a new set of guidelines to assist those businesses in ensuring money laundering does not take place.

I was interested to take a look at the report, which is available in PDF format online.  It states these are ‘good practice guidelines’ and the report runs to more than seventy pages in all.  I was intrigued to see it contains information on working with the authorities, as well as dealing with suspicions and reporting them.  Lots of information is given during the report, and I think if the businesses it concerns take the information on board, the anti-money laundering measures will be a success.

The report did also state that up to this point in time money laundering has not been prevalent in the online gambling world.  The measures are simply to ensure such a stage will never be reached.

I think the report is very useful, not to mention interesting to read.  It would be encouraging to see every online gambling business taking on board the information given here, to ensure the industry remains safe and secure from laundering.

If you run an online gambling business yourself, or you wish to get more information about your business status no matter what business you run, St Matthew may be able to help. Contact us using the link above to speak to a professional accountant about your tax situation.

 



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    Response: useful reference
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    Response: sports betting
    RGA Has New Anti-Money Laundering Guidelines in Place - Tax, Legal & Business News from London - St Matthew Accountants London

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