Ksa issues notice to TOTO Online BV

(PRESS RELEASE) -- The Netherlands Gambling Authority (Ksa) has issued a notice to TOTO Online BV for violating the Money Laundering and Terrorism Financing (Prevention) Act (Wwft). TOTO Online offers online gambling in the Netherlands under the brand names TOTO and Winnitt. The Ksa monitors gambling providers' compliance with the Wwft to prevent money laundering and underlying crime. Therefore, the Ksa conducts ongoing investigations among its licensees.

Offense
The order was issued because TOTO Online failed to comply with the ongoing monitoring of business relationships and their transactions, which is required after the initial client due diligence. The order states, among other things, that in certain cases, TOTO Online does not sufficiently document why new facts or events do not lead to an adjustment of client risk classifications and why it takes certain control measures. Furthermore, the investigation into the origin of players' funds is inadequate.

Gambling providers are required to monitor and investigate gambling behavior if necessary, such as in the case of sudden large deposits. The Ksa previously published the Wwft Guidelines.(referring to another website) which points out the risks of large deposits, even when they come from the player's own bank account.

Next steps
TOTO Online cooperated with the investigation, and some of the identified violations were resolved before the instruction was issued. With the instruction, the Ksa orders TOTO Online to resolve the violations within six months. After this period, the Ksa will conduct a re-inspection.