France: Operators’ Revamped AML Action Plans Commended By ANJ

France has been working hard to ensure its online gambling industry fully complies with anti-money laundering (AML) regulations. As part of this effort, the country’s regulatory body, the Autorité Nationale des Jeux (ANJ), has been reviewing the AML action plans of French operators.

In a recent statement, the ANJ noted that it had concluded its review and commended French operators for their progress in implementing revamped AML action plans but also acknowledged that a margin of progress is still needed for some operators. Here’s a closer look at the ANJ’s findings and what this means for the French online gambling industry.

Revamped AML Action Plans

In keeping with French law, licensed providers in this jurisdiction are duty-bound to present policies they plan on implementing to weed out fraud, AML and terrorist financing. According to ANJ, aside from a few improvements, most of the operators’ plans presented last year were accepted. No doubt that such updates should not be taken lightly, even from big brand names like made up of an experienced team of industry experts. 

While they are not directly providing online gambling or sportsbook service, they are still affiliated with such operators. Thus, if they deal with those who may be part of shady business, the repercussions may be rather serious.

The ANJ’s review focused on the implementation of revamped AML action plans by French gambling operators. These action plans were put in place in 2020 and designed to improve AML procedures’ effectiveness in the French online gambling industry… ANJ’s review of operators’ AML action plans is a key part of the regulator’s efforts to combat money laundering and terrorist financing in the French gambling market.

According to the ANJ, the action plans have led to significant improvements in the identification and management of AML risks. The regulatory body noted that French operators have been proactive in identifying and managing these risks and have implemented robust AML controls and processes over the course of the last year.

In particular, the ANJ highlighted the fact that French operators had made significant progress in the areas of customer due diligence (CDD) and transaction monitoring. The ANJ noted that operators had implemented more effective CDD procedures, including using more sophisticated customer screening tools.

The ANJ also praised French operators for their efforts to improve transaction monitoring. According to the regulatory body, operators have implemented more effective transaction monitoring systems and have increased their use of automated tools to identify suspicious transactions.

Compliance Obligations

The ANJ’s review also focused on the compliance obligations of French operators. The regulatory body noted that operators had also made significant progress in this area and have taken steps to ensure that they are fully compliant with AML regulations.

According to the ANJ, French operators have taken several steps to improve their compliance with AML regulations, including the implementation of new policies and procedures, the appointment of dedicated compliance personnel, and the provision of ongoing training and education for staff.

The ANJ also noted that French operators had worked closely with the regulatory body to ensure that they were fully compliant with all AML regulations. The ANJ praised operators for their proactive approach to compliance and noted that this approach has significantly improved AML controls’ effectiveness in the French online gambling industry.

However, it is worth noting that French betting operator Pari Mutuel Urbain (PMU) had their action plan rejected by ANJ due to concerns over its anti-money laundering (AML) procedures. PMU’s AML action plan was deemed insufficient by ANJ, prompting the regulator to request additional information and improvements from the operator. The rejection of PMU’s plan serves as a reminder that operators must continue to prioritize AML measures in order to comply with ANJ’s strict regulatory standards.

Final Thoughts

In short, the ANJ’s review of French operators’ AML action plans is a positive development for the French online gambling industry. The regulatory body’s findings demonstrate that French operators understand the importance of taking their compliance duties seriously. 

Moving forward, it will be important for French operators to continue to prioritize AML compliance and to work closely with the ANJ to ensure that they are fully compliant with all relevant regulations. With continued focus and commitment, the French online gambling industry is sure to go from strength to strength while ensuring that it remains a safe and secure environment for players.