Consultation for revised AML legislation in Malta

By the 6th of July, 2017, the FIAU have issued the attached consultation document for the revision of the PMLFTR.

The new PMLFTR are designed to transpose the changes as required by the 4th-EU-AML-Directive and contain changes regarding due diligence measures for customers and business partners, thresholds, the scope of reliance and implement the risk-base approach to the Maltese AML legislation.

In the course of the consultation exercise, operators and further providers from the different branches of the industry are invited to share their suggestions with the FIAU.

The consultation exercise will close by the 7th of August, 2017.

See here for the consultation document

Federal government submits new AML act

The German federal government has just submitted its draft for the upcoming AML act (GwG-E) to the Bundesrat (Federal Council of German states). The draft, necessary due to the changes arising from the 4th EU-AML-directive, will soon be passed to the Bundesrat for feedback, and will then be presented to the Bundestag (Federal Parliament) for adoption.
Chevron Consultants offers a webinar regarding the upcoming AML regulation, to take place from 28th to 30th of march, 2017. The event will be offered free of charge and in German language. A respective event in English language will be offered shortly.

Berlin government presents draft for new Gambling Treaty to state parliament

The government of the state of Berlin has presented the draft for the 2. GlüStV, the second amended Interstate Gabling Treaty, to the state parliament, for informational purposes.
Relevant changes in the gambling regime are:
– cancellation of the limitation to 20 sports betting licences in Germany;
– the possibility of a toleration for providers having achieved the second stage of the E-16-application-procedure;
– transfer of competencies from the state of Hessen to the states of Nordrhein-Westfalen and Sachsen-Anhalt; and
– an exit provision for the state of Hessen.

Read the draft in German language here:

Changes to the German gambling regulation

The Conference of the Ministers of the Interior of the German federal states has provided a new draft for the GlüStV, the German Inter-state Gambling Treaty, dated the 28th of October, 2016. Against the background of disputes, especially on the regulation of sports bets, the Ministers have decided to implement suggestions made by the courts to the new draft. The new German Inter-state Gambling Treaty will – agreement of all federal states provided – come into force with beginning of 2018 and will cancel the absolute number of 20 sports bets licences in favour to a quantitative approach.
The new draft in German language can found here:

Hessen: Toleration for sports betting operators stopped

The initiative of the State of Hessen for a toleration of online sports betting operators has just been stopped.
The suspension of the proceedings became necessary due to a summary decision imposed by the Administrative Court of Wiesbaden. Until the beginning of 2018, when the new Inter-state Gambling Treaty shall come into force, it is expected that the fields of online sports betting in Germany remains unregulated.
The declaration of the Regierungspräsidium Darmstadt in German language can be found here:

New draft for the EU General Data Protection regulation

The German federal Goverment has issued its draft bill for the EU General Data Protection Regulation (EU-Datenschutzgrundverordnung, EU-DSGVO). The draft outlines the changes in the German data protection regulation that will come into force upon commencement of the EU General Data Protection Regulation, and contours the provisions to be implemnted to the German laws in that regards.
The draft of the German Act (Datenschutz-Anpassungs- und Umsetzungsgesetz EU, DSAnpUG-EU) can be found here:

Second compromise text for the 4th-EU-AML-directive

The Council of the European Union has issued its second compromise text for the 4th EU-AML-directive. The draft contains mainly of selective changes in regards to topics being discussed before, and aims to improve the harmonisation of the European laws in the constantly developing field of AML.

Gambling Commssion: Consultation for the version of the „Remote Gambling Software and Technical Standards“

The British gambling authority,  Gambling Commission, has just opened its new consultation for the actualisation of the Remote Gambling and Technical Standards, which sets out the core technical requirements for remote gaming offers within the UK.
The regularly performed consultations are used to gain input from operators and the gambling industry and give them opportunities to implement suggestions and estimations in regards to future requirements to be met.
The link to the current consultation, open until 17th of January, 2017, can be found here:


State of Hessen: toleration proceedings for internet sports betting

The state of Hessen, as the first German country, has started an initiative for the toleration of sports bets on the internet.
Operators of existing sports betting offers may apply by submitting the required documentation until 15th of November, 2016. New operators may also apply at a later time.

Requirements to the applicants arise from the E-16-proceedings, applicants may reduce their particular burden of proof by reference to already provided documents.

Toleration will be granted for a security bond of 367.900 €, provision of the required documentation and, in case of foreign residing operators, a gambling licence granted in the residing country.

Offerors not obtaining toleration after completion of the proceedings are in danger to be fined with up to 500.000 €.

A brief summary of requirements and points of discussion will be provided in the upcoming Chevron-newsletter.

Predictive Analytics: Looking into the future

“Big Data opens up new possibilities in Business Intelligence (BI) and Business Analytics (BA), enabling specific patterns and relationships to be identified”

This is an interesting article about the opportunities of pattern analytics from Frank Romeike and Andreas Eicher, RiskNET.

If you are looking into machine learning software like Featurespace etc. to detect fraud within your business transaction or if you are interest in big data analytics, this article might be of interest for you.