Strict regulations strengthen, awarding Alderney high marks in antimoney laundering evaluation.
Little Alderney, the Powerhouse of Online Gambling Regulation, receives a shining endorsement from MONEYVAL, the Council of Europe's anti-money laundering and counter-terrorist financing watchdog. This commendation comes at a pivotal time for gaming operators, who are scrambling to find stable jurisdictions as tougher regulations take hold in locations like Curaçao and the Philippines.
Alderney and Guernsey Shine in Compliance Ratings
MONEYVAL's extensive 363-page report praised the Bailiwick of Guernsey, home to the Alderney Gambling Control Commission (AGCC), placing them in the same league as Jersey, another major Channel Islands licensing hub. Both jurisdictions recently received high marks for their financial compliance standards. With the Isle of Man under review in 2026, Alderney's excellent ranking sets a high bar for other offshore jurisdictions.
According to the report, Guernsey's financial regulators, including the AGCC and the Guernsey Financial Services Commission (GFSC), have a "excellent understanding" of Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) threats and vulnerabilities affecting their supervised sectors.
The AGCC and GFSC were quick to celebrate, stating that their regulatory framework now "meets a standard only seen in four other jurisdictions worldwide." They also emphasized that MONEYVAL recognized their collaboration with the private sector as "plentiful and exceptional," requiring "no fundamental improvements."
In a statement to Vixio GamblingCompliance, the regulators noted: "MONEYVAL confirmed that the Bailiwick has a very comprehensive and contemporary set of regulations relating to AML, CFT, and proliferation financing, and these are well understood by its agencies and the public sector."
The report also noted that Guernsey achieved the "highest achievable level of compliance in two areas related to sanctions enforcement," a distinction previously only held by the UK and the US.
AGCC Chairman Lord Richard Faulkner acknowledged the challenge of maintaining MONEYVAL's stringent evaluation, especially for smaller jurisdictions. "The MONEYVAL process can be arduous for smaller jurisdictions where resource provision with skilled and knowledgeable personnel can be sparse," he said. "But we are pleased that this evaluation found the AGCC is well prepared and that our relationship manager structure gives our eCasinos a 'consistent, direct, and immediate point of contact.'"**
Areas for Improvement
Despite the praise, MONEYVAL did identify a few areas where Alderney could improve. The report suggested increasing money laundering prosecutions and improving the quality of suspicious activity reports. It also noted that the AGCC had not frequently used its enforcement powers during the review period and that there were some legal barriers when it came to sanctioning entities that voluntarily surrendered their licenses.
MONEYVAL recommended that the AGCC "further enhance, with more effective testing, its monitoring of e-Casinos' procedures and systems, particularly when it comes to the detection and scrutiny of unusual transactions."
AGCC Executive Director Andrew Gellatly wasn't overly concerned, pointing out that the regulator has already taken steps. "Our remedial measures are themselves a form of sanctioning, and they are highly effective when implemented in real time," he said. "Remediation plans being adhered to can mean further escalation is not necessary. MONEYVAL's evaluation accepted this, but of course, it is not the only method viewable across other jurisdictions."**
He also clarified that "FATF standards do not require AML/CFT deficiencies to be fined," adding that the focus should be on having appropriate enforcement measures in place to promote compliance. "We have the full range of sanctions at our disposal."
Addressing the suggestion that Alderney needed more prosecutions, Gellatly disagreed, stating: "Pecuniary fines are one way of enforcing compliance, but...we spend a considerable amount of time with our small group of operators, more so than most other regulators." He emphasized that their approach is proactive rather than reactive. "We gather valuable information on a monthly and quarterly basis, and in our onsite inspections, which take place at least annually...As a result, the relationship is collaborative, and our operators appreciate and value us as a source of regulatory guidance. That is not something we plan to change."**
He summed up Alderney's performance in the MONEYVAL review as "very highly within international comparison." Given that this was the final evaluation in MONEYVAL's fifth round of reviews, he noted that "expectations have definitely been raised during that process."
Implications for the Gambling Industry
While stricter regulations help keep the industry clean, they might discourage some operators seeking easier regulatory environments. However, Gellatly is confident that Alderney will continue to attract top-tier businesses.
"The AGCC, now in its 25th year of operation, has built a strong group of mature licensees and a sophisticated ecosystem of expertise within the Bailiwick that allows it to maintain its position among the top-tier online gambling regulators globally," he said. "I believe the evaluation team saw us as a well-resourced e-gambling regulator with a lot of experience and a very comprehensive and contemporary legislative framework which meets the technical standards set out in the FATF Recommendations."
As European regulations become more stringent, operators with questionable compliance histories or those fleeing jurisdictions like Curaçao may find it difficult to obtain licenses. This shift emphasizes the growing importance of strong compliance measures and transparency within the online gambling sector.
For Alderney, the message is clear: adhering to the rules isn't just a requirement; it's a competitive advantage.
- The Bailiwick of Guernsey, specifically the Alderney Gambling Control Commission (AGCC), was praised by MONEYVAL for its excellent understanding of Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) threats and vulnerabilities.
- In the MONEYVAL report, Guernsey's AGCC and Guernsey Financial Services Commission (GFSC) were acknowledged for meeting a standard only seen in four other jurisdictions worldwide regarding financial compliance.
- The AGCC and GFSC were commended for their collaboration with the private sector, which MONEYVAL found to be plentiful and exceptional, requiring no fundamental improvements.
