Italian regulator pushing for stricter anti-money laundering regulations

Italian gambling regulator Agenzia delle Dogane e dei Monopoli is to push for tighter anti-money laundering regulations, spurred by Italian Financial Authority claims that it has experienced a 26 percent rise in AML alerts, and a desire to further comply with the European Union Fourth AML directive.

The initiative follows consultations with industry and politically interested parties and is likely to embrace tougher player sign-up regulations for operators, with twelve mandatory sign-up fields that include government identification details and verification, and detailed recording of all player financial transactions.

Operators are not enthusiastic at the prospect, complaining via their trade association LOGICO that they will be placed at a disadvantage to unlicensed competitors.

Operators are already concerned about the anti-gambling stance taken by the new government in Italy,  which has drafted legislation severely restricting gambling advertising as an initial move against the industry (see previous reports).

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