The tower of refuge building on the Isle Of Man. It is a small grey folly castle in the centre of a large blue bay.

31 January 2018: Anti-Money Laundering Legislation Updates

AML Anti-Money Laundering text written on EU flag

The GSC is pleased to announce the enactment of two Acts designed to provide the organisation with enhanced powers relating to Anti-Money Laundering and Countering the Financing of Terrorism.

This continues the GSC’s commitment to ensure that its legislation remains effective, meets international standards and continues to meet the modern day needs of the sector.

More information regarding the Acts can be found below: 

Casino Amendment Act 2018 

This Act permits the revocation of a Casino licence in cases of non-compliance with money laundering and financing of terrorism legislation. It permits the premises to which a Casino licence relates and the amenities provided at such premises to be varied. In addition it permits the Council of Ministers additional discretion in relation to deposits for concessions.

Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Act 2018

This Act provides the necessary powers for the GSC to conduct regulatory oversight of the gambling sector’s compliance with Anti-Money Laundering and Countering the Financing of Terrorism legislation and provides sanctions for non-compliance.