Irish Bookies Face Anti-Money Laundering Changes

New EU directive may force bookies to demand ID on bets in excess of Euro 2,000

Irish bookmakers may be required to turn away bets in excess of Euro 2,000 unless the punter produces ID when anti-money laundering regulations drafted by the European Union are implemented, according to a report in the Irish Independent.

The changes will have a major impact on the gambling industry regarding large bets and pay-outs, the newspaper notes, reporting that high street betting shops processed Euro 2.7 billion last year from customers who were not asked for ID.

The new EU directive covers all “providers of gambling services”, unlike previous rulings which only applied to casinos.

At present, bookmakers are exempt from having to apply controls against money laundering, or reporting any suspicious transactions.

The Independent claims that officials from several government departments have already held talks with the gambling industry to explore the implications of Know Your Customer measures. The Euro 2,000 rule is part of that discussion.

Online gambling and gaming arcade operators are to be included in the changes, which were scheduled for implementation on June 26 this year but delayed due to “ongoing negotiations” according to the Ministry of Finance.

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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