DGOJ Welcomed Spanish Operators and Regulators in Latest AML Meeting

Spain’s national gaming regulator, the DGOJ, has met with gaming operators to discuss the future of money laundering prevention in the country. The authority sought to create a space where industry stakeholders could openly discuss the matter and propose possible improvements.

Regulators and Operators Discussed AML Measures

The DGOJ’s latest meeting was hosted in partnership with the Treasury and the financial intelligence agency Sepblac and held at the regulator’s headquarters in Atocha, Madrid. The sectoral meeting saw the DGOJ welcome representatives of the online gaming industry who addressed the challenges faced by the iGaming market regarding anti-money laundering (AML) and counter terrorist financing (CTF).

On Tuesday, February 6, Mikel Arana, director general of the DGOJ, and Irene Sánchez Pérez, a Treasury advisory member, inaugurated the meeting. Arana then moderated presentations by the Sepblac and the Treasury, which analyzed the latest regulatory developments across Europe.

Following that, a roundtable meeting saw AML and gaming experts answer operators’ questions and concerns.   

The main topics included the results of recent inspections and the prevention of money laundering. The main objective was to create a space for open dialogue regarding the AML and CTF within the online gaming sector. As a result, industry stakeholders were able to weigh the challenges and determine possible ways to deal with them.

The Public and Private Sectors Should Join Forces

The DGOJ said that its objective remains to promote collaboration between the public and private sectors and reinforce joint efforts to crack down on fraud. The authority believes in improving the market from a common perspective and effective cooperation and is planning to host other similar meetings in the future.

The DGOJ reiterated its commitment to supervising the gaming sector and taking action when violations are identified.

Spain Seeks Further Player Protections

In other news, lawmakers in Spain are considering additional measures designed to protect youths from gambling-related harms. This came as a response to a study from 2022, which claimed that a staggering 21.5% of students aged 14-18 had participated in gambling – whether online or in-person.

The proposed measures included additional ID checks, requiring slot machines and gambling devices to mandate identification from a person before they can play. This would provide a much-needed safeguard, preventing minors from circumventing the rules.

The measure is currently at the Joint Commission for the Study of Addiction Problems.

Minors are considered to be a vulnerable group, as studies show that they can be manipulated more easily than adults. Because of that, preventing younger players from gambling has been a key objective in multiple mature markets.

In the meantime, lawmakers also proposed further restrictions on online gambling products that would make gaming less addictive. A brainchild of the Socialist Parliamentary Group, this measure would also encourage operators to beef up their efforts in preventing minors from gambling.