In Argentina🇦🇷, a new regulation to prevent risks such as ML/TF in gambling activities has come into effect.

In Argentina🇦🇷, a new regulation to prevent risks such as ML/TF in gambling activities has come into effect.

➡️ Starting from December 1, 2023, Resolution 194/2023 from the Financial Information Unit (UIF) is in force, imposing new obligations on users (both Argentine citizens and foreigners) in the gambling sector. It is based on international standards from FATF.

➡️ Operators, in turn, are expected to provide regular reports on self-assessment of technical risks, a statement on acceptable risks, and the results of an independent external review of their preventive systems. Additionally, they will be required to constantly monitor the State Register of individuals and organizations linked to acts of terrorism and its financing (RePET), as well as conduct comprehensive control over their own employees and subcontracted personnel.

➡️ The resolution applies to both online casinos and physical establishments. This may be related to the expected influx of tourists during the summer, with casinos operating 24/7.

...Or maybe none of this will happen. I mean, it's possible that the regulator will leave the gaming sector alone and focus on more urgent matters... At least, that's the impression given by the first economic measures taken by the newly appointed Javier Milei's government. In any case, let's see what happens next.

#news #Argentina #gambling