January 13, 2016
The regulatory and supervisory authority in Peru over banking and financial institutions has published a number of new proposals which would seek to prevent money laundering in casinos and slot parlours.
The Superintendency of Banking, Insurance and Private Pension Funds (SBS), aims to have the new regulations in place by April 1st this year.
The new proposals state that operators would be required to maintain a record of all those clients who make bets of US$ 2,500 or over as well as the winners of high payouts. The new rules are designed to comply with anti money laundering guidelines recently put forward by the Financial Analysis Action Taskforce – which recommends that casinos and slot parlours effectively implement anti-money laundering and terrorist-financing measures. While the new rules could provide an extra cost to operators they will serve to regulate the industry further. In 1994 Peru passed a major gaming which allowed for slot machine parlours and casinos. However, in the face of a proliferation of illegal gambling in 2006 the regulatory body began a nationwide crackdown confiscating and destroying thousands of slot machines.