The Netherlands’ gambling regulator has lifted the lid on a five-year-old case of one of the country’s largest casinos failing to meet requirements of national anti-money laundering legislation.
The Kansspelautoriteit (KSA) revealed that Holland Casino failed to comply with the provisions of the Dutch Money Laundering and Terrorist Financing (Prevention) Act (Wwft) back in 2019.
A KSA investigation at the time found that the nationwide casino operator failed to sufficiently monitor player gaming behaviour and the origin of the money used. The casino set a deadline to comply with all given guidelines, which was met.
Given that five years have passed since the incidents were identified and subsequently resolved, it begs the question as to why the KSA felt the need to announce the enforcement action further down the line.
The KSA asserts that the announcement has helped the general public become aware of its enforcement actions and the reasons for them. The regulator also hopes that gaming providers can become aware of behaviour that could lead to enforcement action and discourage further violations.
The Netherlands’ gambling sector has changed significantly since Holland Casino’s 2019 violations. Most notably, 2021 saw the passage of the KOA Act, which regulated and launched a nationwide online betting market.
Initially launched with just 10 licence-holding operators, the market has grown quickly in the following years to nearly 30 companies. This growth has fueled some public concerns, however, particularly around player protection and social responsibility.
The KSA has been active in enforcing licence requirements, covering areas such as marketing but also AML and other financial areas. A notable Dutch policy bans the use of cashback bonuses, something the KSA has enforced on several occasions.