On Aug. 18, LTH PRL issued amendments to AML/CFT Order DIE-450.
LTH PRL published Order DIE-351 amending AML/CFT Order DIE-450 of Jun. 2020 on procedure for instructions to companies organizing gambling and lotteries re AML.
Follows LTH PRL Jun. 2024 amended AML/CFT order re gambling, lotteries, #217211.
Overview
Amends description of procedure for instructions to companies organizing gambling and lotteries, aimed at preventing money laundering and/or terrorist financing.
It does it via adding point 4.6 Know Your Customer Principle re AML/CFT procedures used to establish true identity of customer and activities that are routine and likely, as well as to detect activities that are unusual for a particular customer.
Amends point 16: company must ensure employees whose job duties are related to implementation of money laundering and terrorist financing prevention measures have appropriate qualifications and necessary knowledge in the field to perform duties.
The company must organize money laundering and terrorist financing prevention training for employees whose job functions are related to implementation of money laundering and terrorist financing prevention measures at least once a year.
Companies must also ensure constant information of employees about changes in money laundering and terrorist financing prevention policy procedures.
Further, it adds Chapter V re collecting information from the customer for KYC goals.
In addition, the new order makes other punctual amendments to particular provisions.
Effectiveness
The order will enter into force on Jan. 1, 2026 except for sub-clause 1.2 regarding point 16 that will enter into force on Nov. 1, 2025.
