On October 1st, 2021, the Dutch market has officially opened for online bets. Earlier this year, the amended Dutch Betting and Gaming Act (Wet op Kansspelen) was published. This regulation, now in effect, gave online gaming service providers the opportunity to apply for a license at the Dutch Gaming Authority (Kansspelautoriteit, KSA).
The professional and commercial providers for online gaming also need to apply to the Money Laundering and Financing of Terrorism (Prevention) act (Wwft). This inclusion is obliging this group to carry out customer screening and to report intended or completed unusual transactions to the Financial Intelligence Unit (FIU). - the Netherlands.
There are several indicators for reporting unusual transactions: multiple objective indicators and one subjective indicator. The applicable indicators differ per reporting group or entity. For the online betting the following indicators are applicable:
- Subjective01: Transactions for which the online betting entity has reason to believe that they might be related to money laundering or financing of terrorism
- Objective01: Transactions reported to the police or the public Prosecution Service in connection to money laundering or financing terrorism.
- Objective11: A transfer of 15.000 Euro or more