Alderney gets top marks in AML review as regulations tighten
Alderney, the little island powerhouse of online gambling regulation, has received a glowing review from MONEYVAL, the Council of Europe’s watchdog for anti-money laundering (AML) and counter-terrorism financing (CTF). This stamp of approval comes at a time when gambling operators are scrambling to find stable jurisdictions as more rigid rules take hold in places like Cura?ao and the Philippines.
Alderney and Guernsey shine in compliance ratings
MONEYVAL’s hefty gave a big thumbs-up to the Bailiwick of Guernsey, home to the Alderney Gambling Control Commission (AGCC). This places them in the same league as Jersey, another major Channel Islands licensing hub, which also recently got a nod of approval for its financial compliance standards. With the Isle of Man up next for review in 2026, Alderney’s solid ranking sets a high bar.
According to the report, Guernsey’s financial regulators, including the AGCC and the Guernsey Financial Services Commission (GFSC), have a “very good understanding of [AML/CTF] threats and vulnerabilities to which the supervised sectors are exposed.”
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 highlighted that MONEYVAL recognised their collaboration with the private sector as “abundant and remarkable,” requiring “no fundamental improvements.”
In a statement to , the regulators noted: “MONEYVAL confirmed that the Bailiwick has a very full and very contemporary set of regulations relating to AML, CFT, and proliferation financing, and these are very well communicated by its agencies and well understood by the public sector.”
The report also pointed out that Guernsey earned the “highest achievable level of compliance in two areas related to sanctions enforcement,” a distinction previously only achieved by the UK and the US.
AGCC Chairman Lord Richard Faulkner acknowledged the challenge of keeping up with MONEYVAL’s rigorous evaluation, especially for smaller jurisdictions. “The MONEYVAL process can be challenging for smaller jurisdictions where resourcing with experienced and knowledgeable staff can be difficult,” 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 all the praise, did point out a few areas where Alderney could step up its game. The report suggested increasing money laundering prosecutions and improving the quality of suspicious activity reports. It also noted that the AGCC hadn’t flexed its enforcement powers much during the review period and that there were some legal roadblocks 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 too fazed, pointing out that the regulator has already made tweaks. “Our remedial measures are themselves a form of sanctioning, and they are highly effective when implemented in near real time,” he said. “Remediation plans being complied with can mean further escalation is not necessary. MONEYVAL’s evaluation accepted this, but of course, it is not the only approach when viewed across other jurisdictions.”
He also clarified that “FATF standards do not require AML/CFT deficiencies to be fined,” adding that what really matters is having appropriate enforcement measures in place to improve compliance. “We have the full range of sanctions at our disposal.”
As for the suggestion that Alderney needed more prosecutions, Gellatly pushed back, saying: “Pecuniary fines are one way of enforcing compliance, but we spend a great deal of time with our small group of operators, more so than most other regulators.” He emphasised 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 by any international comparison.” Given that this was the final evaluation in MONEYVAL’s fifth round of reviews, he noted that “expectations have certainly been raised during that process.”
What this means for the gambling industry
While stricter regulations help keep the industry clean, they might also scare off operators looking for an easier ride. But Gellatly is confident that Alderney will continue attracting 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 in the Bailiwick that allows it to remain among the top tier of online gambling regulators globally,” he said. “I think the evaluation team saw us as a well-resourced e-gambling regulator with a lot of expertise and a very full and very contemporary legislative framework which meets the technical standards set out in the FATF Recommendations.”
As European regulations tighten, operators with shaky compliance histories, or those fleeing jurisdictions like Cura?ao, may find it tougher to get licensed. This shift highlights the growing importance of strong compliance measures and transparency in the online gambling world.
For Alderney, the message is clear: playing by the rules isn’t just a requirement; it’s a competitive advantage.
