The Bulgarian gambling industry is set to team with the country’s National Revenue Agency (NRA) and the State Agency for National Security for a new initiative to tackle AML/CTF.
The NRA is Bulgaria’s regulatory body that precedes the operator licensing process and taxation, with the news being shared during a general meeting organised by Director General Rumen Spetsov.
As a result a variety of strategies were analysed and discussed as the industry looks to collaborate to combat money laundering and terrorism financing.
One of the key outcomes was setting up duties of increased collaboration between NRA representatives and the gambling industry in order to solve any challenges relating to regulatory procedures and changes in the framework.
Spetsov commented: “The NRA is focused on partnerships and is available to assist businesses when it comes to supporting their duties in relation to current legislation.
“We value the commitment of the gambling industry to effectively counteract and prevent money laundering and terrorism financing.”
AML developments in Bulgaria are also being closely monitored by the FATF, as the country is currently on its grey list.
