The risk of Money Laundering (ML) and Terrorist Financing (TF) threatens a country's national security, the economy and international standing. Ian Nelson and Niamh Lambe of our Risk Consulting team undertook market research to understand the root cause of these financial penalties, the result of which are presented in the report below.

Action needs to be taken now. Regulators are becoming more acutely aware of AML/CTF compliance and are completing on-site inspections to assess the appropriateness and robustness or gambling operators AML/CFT frameworks. Additionally, the AML landscape is evolving with new legislative changes in the pipeline, therefore it is essential for gambling operators to stay up to date with these changes to ensure compliance and mitigate potential risks associated with money laundering and financial crime.

How KPMG can help

KPMG is a global leader in the fight to disrupt financial crime. KPMG teams made up of thousands of industry and domain professionals from across the globe bring a wealth of knowledge and strong relationships with regulators.

We have extensive experience across multiple sectors for AML doing business wide risk assessments, AML CTF frameworks, compliance monitoring and transaction monitoring. In addition we bring specific industry knowledge having worked with both gambling regulators and operators both domestically and internationally. 

KPMG can support clients achieve Operational Excellence across a full suite of offerings; including:

Optimisation of Transaction Monitoring for enhanced results and reduced false positives through the use of data and technology;

  • Ongoing Customer Due Diligence for driving cost reductions using data and applied intelligence to identify risk events and changes in a customer profile;
  • Design, implement or gap analysis of Target Operating Model and lines of defence to ensure robust compliance by design AML/CTH frameworks, including business risk assessment and risk and control assessments.
  • Through the use of data and technology, support clients deliver remediation efforts such as KYC (Know Your Customer), CDD (Customer Due Diligence) in an effective and efficient manner.

Get in touch

Financial crime is a disruptive force in business. If you have any queries on how to put safeguards in place, please contact our team below. We'd be delighted to hear from you.

Contact our team