From Gambling Kingz – New plans by the European Commission to combat money laundering have been called “unworkable and unnecessary” by the Association of British Bookmakers.
The Chief Executive of the Association, Dirk Vennix said that the proposed Fourth Anti Money Laundering Directive, scheduled to be approved early next year, would cost betting shops hundreds of millions in equipment installation and would not solve the problem.
The measures demand that bookmakers across Europe, including the UK, scan the passports of customers who make a single transaction of £1,700 or more. In addition, the information needs to be made available for five years.
Player card systems will also need to be installed so that bets between branches can be correlated.
According to Vennix, the measures would cost betting shops up to £100 million in installation and storage charges.
“This is a ridiculous proposal,” said the CE. “They simply haven’t thought it through. It’s unworkable, unnecessary and disproportionate.”
