The Bulgarian gambling market will take part in a new initiative against AML/CTF alongside Bulgaria’s National Revenue Agency (NRA) and the State Agency for National Security.
The NRA is Bulgaria’s regulatory body that exercises control over the operator licensing process and taxation, with the news being shared during a general meeting organised by Director General Rumen Spetsov.
The meeting served as a podium for discussing multiple strategies that gambling industry bodies can coordinate with their members 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.
