Faq
AML. When is a lottery organizer required to apply financial security measures?
Lottery organizers are required to apply financial security measures when: establishing a business relationship; conducting an occasional transaction of the equivalent of €15,000 or more or which represents a transfer of funds for an amount exceeding the equivalent of €1,000;…
AML. What do financial security measures include?
Identifying the customer and verifying its identity; identifying the beneficial owner and taking reasonable steps to verify its identity and establish ownership and control – in the case of a customer that is a legal entity or an organizational unit…
AML. AML Act – what are the obligations of lottery organizers?
The most important of these are the obligation to apply financial security measures to their clients, to identify and document the risks of money laundering and terrorist financing associated with a business relationship or occasional transaction, and to assess the…
AML. What is the AML Act?
The Anti-Money Laundering and Countering the Financing of Terrorism Act (abbreviated as AML from the English term anti-money laundering) on July 13, 2018 came into force as the