On 18-19 September 2024, the Council of Europe Economic Crime and Cooperation Division organised a specialised training session on anti-money laundering and countering financing of terrorism (AML/CFT) risk-based supervision for representatives of the Gaming Control Authority (GCA). 

The training was initiated by an overview of the FATF standards relating to the AML/CFT risk-based supervision of gaming operators. As a follow-up, participants could gain insights into the prerequisites of a risk-based approach and get a better understanding of existing good practices for carrying out a risk assessment of individual obliged entities (OEs). Practical advice was also provided as regards the critical elements to be taken into consideration for building up effective supervisory strategies and planning. The theoretical part was also accompanied by a number of practical exercises which allowed participants to test the proposed risk scoring methods and reflect on the development of a supervisory programme.

In addition, the event provided an opportunity to present and discuss the key findings of the expert review carried out by the ECCD, which looked into the GCA’s existing AML/CFT procedures. The review allowed to identify existing weaknesses and propose targeted recommendations for further improving the AML/CFT risk-based supervision of the gaming sector in Lithuania. These findings were compiled into a comprehensive Technical Paper providing further written guidance to the GCA on the various steps of the supervisory cycle, including the risk-assessment process, on-site and off-site supervisory actions, reporting, and the application of enforcement measures. The document is also accompanied by sector-specific matrices and questionnaires that would support the data collection process.

The event was organised within the framework of the Technical Support Instrument initiative “Strengthening risk-based AML/CTF supervision in Lithuania” funded by the European Commission’s Directorate General for Structural Reform Support (DG REFORM) and implemented by the Council of Europe.