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Dr. Luka Müller-Studer, LL.M. Attorney-at-law / Partner MME Partners luka.mueller@mmepartners.ch

IMGL Autumn Conference, Vienna 15 September 2011 Global Anti- Corruption Enforcement and Compliance, Money Laundering Control I ssues and Technical Supervision. Dr. Luka Müller-Studer, LL.M. Attorney-at-law / Partner MME Partners luka.mueller@mmepartners.ch. Overview.

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Dr. Luka Müller-Studer, LL.M. Attorney-at-law / Partner MME Partners luka.mueller@mmepartners.ch

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  1. IMGL Autumn Conference, Vienna15 September 2011Global Anti-CorruptionEnforcementand Compliance, Money LaunderingControlIssuesand Technical Supervision Dr. Luka Müller-Studer, LL.M. Attorney-at-law / Partner MME Partners luka.mueller@mmepartners.ch

  2. Overview AML Standards forRemote Gaming • RiskBased Approach: TwoBasic Structural Elements • Minimum Requirementsof an AML ControlScheme • How an efficient AML ControlSchemecouldlooklike UIGEA andForeign Service Providers (Swiss Experience) • Dual Criminality: Money LaunderingOffenseRequirements in Switzerland (Art. 305bis CC) • AML Compliance Assessment • CriteriatoIdentify Transactions whichmighthave an UIGEA Relevance

  3. RiskBasedStructural Elements of an AML ControlSchemefor Remote Gaming Two Basic Principles Flow of Funds: Pay-out asmainrisk Amountof Funds: Thresholdrelatedduties

  4. Minimum Requirementsof an AML ControlScheme Know your customer • Registration of Player • Black lists • Sanctionlists • PEP • Payment instruments • Identification (BO, threshold) • Further Investigation • Risk Assessment Organization • Documentation • Internal Organisation • Training • Reporting • Controland Audit Money Laundering Suspicion • Special investigations • Notification to authority • Freezing of assets continuing ad-hoc

  5. How an efficient AML ControlSchemecouldlooklike

  6. Experience with UIGEA proceduresand Swiss Banks • Can money, which a Swiss Bank and / or Swiss Service Company receivedfrom a US playerbeconsideredasofcriminaloriginin the sense of the Swiss AML regulations?

  7. Dual Criminality Money Laundering Offense in Switzerland (Art. 305bis CC) Object of the Offense:Assets originating from a crime Predicate Offense / Dual Criminality: Offense committed abroad is qualified as a Crime according to Swiss law (Art. 10 II CC) Offense is punishable in the Country committed Money Laundering Crime Origin FGA Infringement of UIGEA in US fullfills requirement 2, but not requirement 1.  Nomoneylaundering in CH. UIGEA Assumption that some transactions in the US would be considered as falling under the UIGEA.

  8. No Money Laundering but increased risk AML Compliance Assessment • Findings • Infringement of the UIGEA does not qualify as crime in the sense of Art. 305bis CC. • Risk: US authoritiescouldseek legal assistance in CH whichcouldresult in a temporaryblockingofassets in CH. • Recommendations for Financial Intermediary • Identify transactions with increased risk • Analyze all transactions from and to US • Separate non-US transactions from US transactions • Identify which of the US transactions are relevant • Analyze and categorize these transactions in order to identify which of these transactions contain certain risk elements and which transactions shall be temporarily suspended • Monitor Developments in US

  9. Criteria to Identify Transactions which might have an UIGEA Relevance

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