The Ministry of Finance and Economics (MHE) and the Financial & International Business Association (FIBA) have signed a major collaboration agreement that strengthens the country’s anti-money laundering measures in the gambling sector.
The agreement was signed by MHE Minister Magín Díaz and FIBA Executive Director David Schwartz, who agreed on the need for this alliance to prevent illicit acts in gambling.
The Dominican government emphasized that the signing of the agreement reinforces the Ministry’s institutional policy, which is focused on ensuring legal compliance among all stakeholders in the gambling sector.
According to a Ministry of Finance press release: “With this collaboration, which is part of a broad MHE strategy on the matter, the State’s capacity is strengthened and it is promoted that frontline entities in this area have trained and properly certified personnel.”
FIBA will contribute its recognized international expertise to establish, together with the MHE, through the Directorate of Casinos and Gambling, a Certification Program in Anti-Money Laundering (AML-C AMLCA – Gambling) with a Dominican Republic focus directed at institution officials, gaming operators, and all obligated subjects in this sector.
The collaboration with FIBA will be supported by Florida International University which is well known for its finance programs. It will provide key resources for developing technical training.
The agreement is part of the implementation of Resolution No. 217-2025, a regulation that establishes the mandatory requirement of suitability and certified training for Compliance Officers, with the objective of harmonizing the competencies of Dominican professionals with international standards and those of correspondent banks, facilitating access to high-level certifications that validate a Risk-Based Approach (RBA) for AML prevention required by the State.
The Ministry of Finance stated that the agreement “reduces the country’s vulnerability to evaluations by international bodies such as the Inter-American Group of FATF-style regional bodies (GAFILAT), since, beyond training, it strengthens the State’s anti-money laundering defence architecture.”
In addition the alliance is framed within the institutional-strengthening policy undertaken by the Ministry in collaboration with global organizations “to ensure that the regulated sector has excellent options to guarantee its professionalization and legal compliance.”
The new rules comes as major changes to the way gambling is regulated in the Dominican Republic look likely. In June 2025 President Luis Abinader submitted a bill to the National Congress aimed at regulating and supervising the gambling sector in the Dominican Republic, while also establishing mechanisms to prevent money laundering.
Key points of the bill include strict regulation on the use of slot machines, which will only be permitted to operate legally in casinos, hotels with one to three stars, and sports betting outlets. The initiative includes penalties for owners who install these machines in corner stores, entertainment centres, and amusement venues.
The post Dominican Republic signs landmark agreement to strengthen anti-money laundering measures appeared first on G3 Newswire.
The Ministry of Finance and Economics (MHE) and the Financial & International Business Association (FIBA) have signed a major collaboration agreement that strengthens the country’s anti-money laundering measures in the gambling sector. The agreement was signed by MHE Minister Magín Díaz and FIBA Executive Director David Schwartz, who agreed on the need for this alliance…
The post Dominican Republic signs landmark agreement to strengthen anti-money laundering measures appeared first on G3 Newswire.