INSIGHT EU POLICY


What is SRA? Supranational Risk Assessment


Supranational Risk Assessment was introduced in 2017 alongside the fourth Anti Money Laundering Directive (AMLD) by the European Commission, outlining guidance for the


regulation of anti-money laundering activities and the combatting of terrorism financing. The assessment provides a framework around which the individual states of the European


Union should formulate national law. However, due to the nature of this guidance, there remains the question of interpretation, insomuch as we see today that the fifth AML


directive is being implemented in many different forms across the European Union.


Supranational Risk Assessment was created by the European Commission to address the need to assess the risks posed by different industries and sectors as regards to money laundering and the financing of terrorism. Te Commission sought to achieve this goal by giving each sector a risk value, ascribing the highest values to vulnerable sectors, through to the lowest risk industries. Among the sectors investigated in 2017, was the gaming industry, consisting of casinos, online gaming, bingo, poker and lotteries - and from the outset, the casino industry was labelled highest risk.


Justification for the high risk assessment was due to the fact that the land-based sector predominantly uses cash - which is seen as a very high risk. As we have since learned, the first risk assessment was conducted by the European Union contacting police forces in the different EU member states. Each was sent a questionnaire asking for their force’s view of risk in the different industry sectors. Te EU asked each police force, do you think casinos are at high risk for AML? Unequivocally, they all said yes.


WIRE / PULSE / INSIGHT / REPORTS P71


From 2017-2022, there have been three Supranational Risk Assessments, the most recent was published in October 2022, delayed one year due to the pandemic. It was recently published and came to an interesting conclusion.


The first risk assessment was conducted by the European Union contacting police


forces in the different EU member states. Each was sent a questionnaire asking for their force’s view of risk in the different industry sectors. The EU asked the police, do you think casinos are at high risk for AML? Unequivocally, they all said yes.


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