Casino Industry Alarmed as AML Law Revision Could Track All Game Transactions
Creatrip Team
a month ago
South Korea’s Financial Intelligence Unit (FIU) is pushing to amend the Specific Financial Information Act (a law aimed at anti-money laundering) to expand customer due diligence and require detailed, date-by-date electronic records of chip purchases, game types, and cash exchanges at casinos. The move is driven by upcoming FATF (Financial Action Task Force) mutual evaluation rules and would align domestic reporting thresholds with international standards. Industry groups warn the changes would force intrusive identity checks on even small-stakes players, risking large customer outflows, revenue losses for casinos (including regional “mining town redevelopment” funds), and financial strain on smaller venues that must build tracking systems. Critics say blanket tracking could push gamblers toward illegal markets; experts recommend a risk-based approach focused on high-value or linked transactions and phased implementation with clear IT guidelines to reduce unintended harm.
