The New Zealand Gambling Authority intends to take tougher action if New Zealand Online casinos fail to meet their financial obligations. Since online gambling having been legalized in New Zealand, the Ksa is fighting with online providers over regulations. Due to the fierce competition that has erupted in order to gain a share in this new market, the parties are pushing the boundaries. These limits are increasingly marked by the Ksa. Now the Ksa again informs that casinos must conduct stricter research into the origin of money that is wagered.
All this has to do with the law on the Prevention of money laundering and terrorist financing. The online casinos those who have a New Zealand gambling license are required to prevent money laundering. The casinos must investigate if $2500 or more is deposited into a player's account. The Ksa argued that the average net monthly salary is around $2,500 dollars. Thus, at the moment when a player deposits more than an average monthly salary, a license holder must research where the money comes from.
The Ksa now wants online casinos to control New Zealand more intensively and more strictly. “The Ksa expects license holders to investigate earlier. This is important from the point of view of preventing gambling addiction (consumer protection) and money laundering (crime).”
It adds that it " also appears that providers of online gambling do not report all transactions”, such as those of $ 15,000 in 24 hours or other unusual transactions, to the FIU-Netherlands to which they are “obliged”
