AGA guidance acknowledges fraud shifts in the gaming industry


The American Gaming Association (AGA) has reflected on the new developments in the gaming industry by updating its best AML practices guidance.

New laws, technologies and criminal behaviours have all been taken into consideration, as AGA released the third edition of the “Best Practices for AML Compliance” guidebook under the supervision of leaders in the compliance space. 

Alex Costello, AGA’s Vice President of Government Relations, said: “As the methods and sophistication of financial crimes evolve, the gaming industry continues to spearhead efforts to combat money laundering.

“An invaluable resource for our industry, this guide demonstrates gaming’s commitment to protect the U.S. financial system from money laundering and other forms of illicit finance.”

The update comes in time of rapid developments in the gaming industry, with a number of pivotal changes seen since the guidebook’s previous edition from 2019. Some of these developments include an update to the Bank Secrecy Act by Congress, a federal exemptive relief for certain ID checks, the use of digital payments and cryptocurrencies being approved by gaming jurisdictions, and sports betting and iGaming becoming legal in 16 states since. 

These are all addressed in the guidance, which provides detailed insight on current compliance obligations, revised definitions and new red flag indicators to help gaming companies maintain their AML compliance.