The prevention of money laundering and combating the financing of terrorism
2 - Obligations on all casino operators
An officer of a licensed casino operator which is subject to the Regulations (that is, a director, manager, secretary, chief executive, member of the management committee, or a person purporting to act in such a capacity) who consents to, or connives in, the commission of offences under the Regulations, or where the commission of any such offence is attributable to any neglect on their part, will be individually liable for the offence.42
Senior management should require that the nominated officer provides an annual report covering the operation and effectiveness of the operator’s systems and controls to combat money laundering, terrorist financing and proliferation financing, and take any action necessary to remedy deficiencies identified by the report in a timely manner. In practice, senior management should determine the depth and frequency of information provided by the nominated officer that they feel is necessary to discharge their responsibilities. The nominated officer may also wish to report to senior management more frequently than annually, as circumstances dictate. The nominated officer may not need to provide the names of suspected persons in any report.
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Policies, procedures and controls
Last updated: 30 May 2023
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Updated in line with version 3 of the guidance. References to 'proliferation financing' added.