EU to Widen Net Against Money Laundering
By philip
The European Commission has proposed a new set of stringent laws aimed at countering terrorists who may use Internet businesses to launder money and finance their operations. As reported today by Bloomberg, Brussels is looking to ensure that businesses verify customer identities, watch for suspicious transaction patterns and report any cash purchase of more than 15,000 euros. As well as online casinos the rules would extend to other businesses beyond the banking system, such as service providers, trusts, jewellers and auction houses.

“The fight against money laundering and terrorist financing is a top political priority for the commission,'' Frits Bolkestein, EU commissioner for financial services, said following the announcement of the proposals. ”We have to do what we can to make it as difficult as possible.”

The commission is currently considering legal action against several member states, including France and Greece, for failing to sufficiently implement last years set of anti-money-laundering rules.

Online Casino provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.