CRITICISMS levelled at the Alderney Gambling Control Commission for its anti-money laundering procedures by the International Monetary Fund were unreasonable, says its chief executive.

The IMF looked closely at the AGCC’s regulatory work in relation to AML procedures as part of its wider review of Guernsey’s stability as a finance sector and highlighted a series of areas where it believed the commission could improve.

These include the AGCC  improving customer identification reliability to reduce the risks associated with non-face-to-face transactions, ensuring eGambling licensees pay greater attention to suspicious and unusual transactions and that the detection mechanisms involved in this process are more appropriate.  The IMF wanted it to ensure police record checks are conducted systematically on key individuals seeking an eGambling licence.

But AGCC chief executive Andre Wilsenach, pictured, believes the commission already does much of what the IMF was proposing and in the majority of cases was already more thorough in its regulatory and AML work.

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