German anti-money laundering legislation almost ready

German federal lawmakers are making good progress on new land and online gambling anti-money laundering laws in order to comply with the Fourth AML Directive, which requires EU members to implement new AML standards and requirements by June 26 this year.

The Federal Parliament financial committee has signed off on the new German AML regulations, which reportedly present both opportunities and more work for gambling companies, especially those involved in sports betting, where non-compliance carries heavy punitive consequences.

The Federal parliament and assembly are expected to agree to the proposed changes in the coming weeks.