This report from the FATF-style regional body for West Africa, the Inter-Governmental Action Group against Money Laundering (GIABA), considers AML/CFT vulnerabilities in the casinos sector in West Africa. In particular, the report focuses on the casino and gaming sectors in 6 GIABA Member states (Ghana, Nigeria, Senegal, Cabo Verde, Côte d’Ivoire, and Benin). GIABA says that it hopes to build on the red flags, good practices, and suggested actions identified in these reports at international level, offering a roadmap for future actions by regulators, supervisors, and operational authorities in West Africa to reinforce their AML systems. Key deficiencies were identified in regards to legislative gaps (in particular, regarding the licensing and regulation of online casinos operating across the region); lack of domestic cooperation to license, monitor and supervise casino activity for AML purposes; and a lack of STR reporting and information sharing between casino and gaming establishments in the region and the FIU of the countries surveyed. New trends were identified including in regards to increasing foreign acquisition of casinos, as well as foreign ownership and management of casinos across the region. New risk indicators were identified and good practices were identified. The report identifies 7 concrete recommendations for immediate implementation.
https://www.giaba.org/media/f/1195_CASINO_Study_GIABA_ENG_finale%203%20–.pdf
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