The prevention of money laundering and combating the financing of terrorism
Annex - Glossary of terms
- Anti-money laundering
- Beneficial ownership
- Beneficial ownership is enjoyed by anyone who has the benefits of ownership of property, but does not apparently own the asset itself. The term is defined in the Regulations.
- Business relationship
- A business, professional or commercial relationship between an operator and a customer, which is expected to have an element of duration
A term used to describe commerce transactions between businesses, or the exchange of products, services or information between businesses. In other words, it is business which is conducted between firms, rather than between firms and consumers (or customers)
- Casino operators
Firms holding a casino operating licence issued by the Commission.
- Criminal spend
In the context of gambling, the use of the proceeds of crime to fund gambling as a leisure activity (otherwise known as lifestyle spend)
Countering terrorist financing.
- Customer tracking
The process of capturing drop and win data for a customer.
- Drop/win figures
Data recorded by casinos that covers the total value of chips purchased as well as the total loss or win for a customer over a 24- hour period.
- Money laundering
The process by which criminal or 'dirty' money is legitimised or made 'clean', including any action taken to conceal, arrange, use or possess the proceeds of any criminal conduct. Defined in section 340 of POCA
- Non-remote casinos
Casinos licensed to operate commercial casino premises.
Firms holding an operating licence issued by the Commission
Personal functional licence.
The Proceeds of Crime Act 2002, which is intended to reduce money laundering and the profitability of organised crime through the use of tools such as asset recovery
Personal management licence.
- Proceeds of crime
Property from which a person benefits directly or indirectly, by being party to criminal activity, for example stolen money, money from drug dealing or property stolen in a burglary or robbery
- Proliferation financing
The act of providing funds or financial services for use (in whole or in part) in the manufacture, acquisition, development, export, trans-shipment, brokering, transport, transfer, stockpiling of, or otherwise in connection with the possession or use of chemical, biological, radiological or nuclear weapons, including the provision of funds or financial services in connection with the means of delivery of such weapons and other Chemical, Biological, Radiological and Nuclear (CBRN)-related goods and technology188, in contravention of a relevant financial sanctions obligation.189
- Remote casinos
Casinos licensed to offer casino games by means of remote communication.
A suspicious activity report – the means by which suspicious activity relating to possible money laundering or the financing of terrorism is reported to the NCA under POCA or the Terrorism Act
- Source of funds
Where the funds, money or cash to finance the transaction come from
- Source of wealth
The origin of a person’s overall body of wealth (that is, their total assets), which should give an indication of the volume of wealth the person actually has, and how they acquired it.
- Supervisory authorities
Supervisory authorities, which are listed in regulation 7 of the Regulations. The Commission is the supervisory authority for casinos.
- The Act
The Gambling Act 2000
- The Commission
The Gambling Commission
- The NCA
The National Crime Agency, which became operational in October 2013, is a crime-fighting agency with national and international reach that works in partnership with other law enforcement organisations to cut serious and organised crime. The NCA is the organisation to which suspicious activity is reported
- The Regulations
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
- The Terrorism Act
The Terrorism Act 2000
- Third country
A country which is outside the United Kingdom
The United Kingdom Financial Intelligence Unit, which is the unit within the NCA that operates the disclosure regime for money laundering.
188 The meaning of 'biological weapon', 'chemical weapon', 'CBRN-related goods and technology', 'nuclear weapon' and 'radiological weapon' are set out in regulation 16A(10).
189 A relevant financial sanctions obligation is a prohibition or requirement in regulations made under section 1 of the Sanctions and Anti-Money Laundering Act 2018 (opens in new tab) and imposed for one or more of the purposes in section 3(1) and (2) of the Act so far as it relates to compliance with a relevant United Nations (UN) obligation.
List of Figures
Last updated: 30 May 2023
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Updated in line with version 3 of the guidance. References to 'proliferation financing' added.