Holland Casino Criticized for Money-Laundering Compliance Failures

Tasked with the regulation of gambling, the Dutch Gaming Authority, Kansspelautoriteit (KSA), constantly monitors the sector. The regulator often takes action against licensed operators who breach the established rules and at the same time safeguards players from illegal iGaming providers that may be targeting Dutch customers.

On Monday this week, the KSA disclosed publicly details regarding breaches of the established regulations regarding money laundering by Holland Casino, a leading gaming operator in the country. The deficiencies, dating back to several years ago, have already been resolved and the operator is offering its services in compliance with the regulatory framework, the gambling regulator explained.

Still, it confirmed that previously, Holland Casino failed to comply with certain provisions of the Act for the Prevention of Money Laundering and Terrorism Financing (Wwft). The breaches in question related to “insufficiently monitoring the gaming behavior of players and the origin of the money used,” as explained by the KSA.

The gambling watchdog confirmed that it gave Holland Casino specific instructions that will ensure its compliance. Not unexpectedly, the gambling operator followed the guidelines, fully complied with the regulations and remedied the situation within a deadline set by the KSA.

“The Netherlands Gambling Authority (KSA) therefore issued an instruction at the time with the task of getting compliance with the Wwft in order. Holland Casino complied with all the given guidelines within the deadlines set at the time,“

reads a statement released by the KSA

The Announcement to Serve as a Deterrent

Usually, matters related to Wwft breaches are confidential. However, a ruling of the Trade and Industry Appeals Tribunal (CBb), regarding an appeal by Holland Casino, enabled the KSA to inform the public about the breach. Still, some parts of the decision and case itself remain confidential.

According to the KSA, the public announcement seeks to serve as a deterrent, preventing gambling operators from violating the Wwft. At the same time, the watchdog said that the announcement seeks to inform other providers that they may be subject to enforcement in the event of any breaches of the regulations.

Earlier this month, KSA issued a warning against a licensee over untargeted gambling advertising. At the time, the regulator did not disclose the name of the brand but confirmed it breached the Dutch ban on non-targeted gambling advertising for both social media and TV ads.

Considering that the gambling operator has taken measures to remedy the situation and ensure no further breaches occur, the KSA issued only a warning.

In more severe cases, the gambling regulator has the authority to impose financial penalties or even revoke licenses.