The Hellenic Gambling Commission has issued alerts to all licensed gambling businesses across the whole country. The strong progress of the Hellenic Gambling Commission in preparation for their upcoming implementation of highly demanding European Union anti-money laundering regulations requires operators of online gambling businesses that are based in Greece and have licenses to offer gambling services to prepare for these new regulations today.
These European Union regulations will be enforced over several years and will progressively take place starting July 10, 2027. As a result, the newly established Anti-Money Laundering Authority will take on complete oversight of enforcement of these new regulations.
The Hellenic Gambling Commission will hold a series of information sessions that focus on the new and complicated regulations and provide regulators with specific presentations and workshops that will contain hands-on experience to help local operators and the gaming and entertainment industry effectively navigate the challenges created by the new regulations.
The Hellenic Gaming Commission encourages operators to engage in this opportunity and to express their opinions as experts in their respective fields. As a result of the extreme risks associated with cash transactions within the gaming industry, the Hellenic Gambling Commission is seeking the input of the gaming industry by providing a forum for public comment through the Anti-Money Laundering Authority’s website.
This issue is critical due to the types of risks that gaming businesses face as a result of cash handling on a daily basis. Examples of these types of risks include Customer Identification Verification; Daily Monitoring of Daily Cash Transactions; and Reporting Procedures.
HGC President Antonis Vartholomaios stated:
Through targeted information and cooperation, the commission wants to ensure that the Greek gambling market responds adequately, transparently, and responsibly to the stricter anti-money laundering requirements.
