EXPERTS NIGERIA The new Nigerian law requires casinos to tighten AML controls 1 month ago Samuel Post Views: 78 Nigeria’s Federal Government has introduced stricter regulations for casino operations as part of its fresh move against money laundering. President Muhammadu Buhari assented Thursday to the Money Laundering (Prevention and Prohibition) Bill 2022, the Terrorism (Prevention and Prohibition) Bill 2022, and the Proceeds of Crime (Recovery and Management) Bill 2022. This package now prohibits ownership and operation of shell accounts in the national territory. The Money Laundering Act establishes a Special Control Unit against Money Laundering under the Economic and Financial Crimes Commission, which is to monitor financial transactions within and outside Nigeria. Per this new legislation, both online casinos and ship-based casinos will now have to verify the identity of any of its customers carrying out financial transactions by requiring its customer to present a valid original document bearing his name and address; record all transactions in chronological order including the nature and amount involved in each transaction; and each customer’s surname, forenames and address, in a register forwarded to the Special Control Unit against Money Laundering for that purpose. The register must be forwarded to the Unit and preserved for at least five years after the last transaction recorded in the register. Source: yogonet.com SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: controls, gambling law, Nigeria Continue Reading Previous KRA loses court tax fight with betting firmsNext Why People Love Gambling More Stories BETTING NIGERIA The Future of Sports Betting in Nigeria 1 day ago Samuel EXPERTS WORLD NEWS TVBET is going to attend iGB Live 2022 2 days ago Iwo Bulski EXPERTS SOUTH AFRICA Future of online gambling industry in the African market 3 days ago Szarlot CASINO EXPERTS The best tips for beginner roulette players. 4 days ago Samuel EXPERTS TANZANIA Only 2 weeks for SBEA+ in Tanzania 4 days ago Iwo Bulski EXPERTS NIGERIA Nigeria’s NLRC takes action on fake sports betting permits 5 days ago Samuel BETTING NIGERIA Nigerian legend Nwankwo Kanu becomes ambassador for sports betting company 5 days ago Iwo Bulski EXPERTS UGANDA SCCG and Uganda’s Genius Gaming Consult sign Africa 1 week ago Iwo Bulski NIGERIA ONLINE Towards robust cyber security for Nigeria 1 week ago Samuel BETTING NIGERIA Ilot NG: sports betting and the economic impact 1 week ago Iwo Bulski EXPERTS TANZANIA Eventus to Welcome Gaming Leaders in Tanzania – Three Weeks Until SBEA+ 2 weeks ago Iwo Bulski EXPERTS SOUTH AFRICA How Popular Is Cryptocurrency In Africa? 2 weeks ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.