Santo Domingo, Feb 21: The Dominican Republic has signed a cooperation agreement with the Financial & International Business Association (FIBA) to strengthen anti-money laundering and counter-terrorist financing controls in the country’s gambling industry.
The agreement was formalised by Finance Minister MagÃn DÃaz and FIBA Chief Executive Officer David Schwartz. Officials described the move as a strategic step to curb illicit financial flows in casinos, lottery outlets, sports betting operations and electronic gaming concessionaires.
The Ministerio de Hacienda y EconomÃa said the partnership will enhance oversight in one of the country’s most financially active and sensitive regulated sectors. Certification programme for operators and officials
A key component of the agreement is the development and rollout of a specialised Anti-Money Laundering Certification Programme tailored to the gambling sector. The initiative will target government regulators, gaming operators and other obligated entities, equipping them with updated knowledge of global AML and counter-terrorist financing standards.
Authorities said the programme is designed to ensure that personnel responsible for monitoring financial transactions in the gambling industry are properly trained and certified in international best practices.
The training effort will draw on FIBA’s collaboration with Florida International University (FIU), bringing academic expertise into the certification process. Officials said the involvement of an academic institution will support the development of technical skills and strengthen human capital within the sector.
Reducing exposure to international scrutiny The ministry acknowledged that stronger compliance measures are also aimed at improving the country’s standing in periodic international evaluations. It noted that enhanced supervision could help reduce vulnerabilities during assessments conducted by bodies such as Financial Action Task Force of Latin America (GAFILAT), which reviews member states’ adherence to global anti-money laundering standards.
Periodic evaluations by regional and international watchdogs assess how effectively countries regulate high-risk sectors and enforce financial integrity frameworks. Gaming and betting activities, which often involve significant cash flows and cross-border transactions, are frequently identified as areas requiring heightened scrutiny.
Part of broader institutional reforms Officials said the agreement forms part of a broader institutional strengthening effort undertaken by the ministry in collaboration with international organisations. The objective, they added, is to professionalise the regulated sector, enhance coordination among supervisory bodies and ensure compliance with global financial standards.
The Dominican government believes that improving training, certification and regulatory coordination will reinforce the country’s anti-money laundering defence system and boost transparency in the gambling industry.
As the certification programme is implemented, authorities said its impact will be measured not only by the number of professionals trained but also by improvements in reporting standards, risk mitigation and overall financial transparency within the sector.
The move reflects a wider trend across Latin America, where governments are stepping up oversight of industries with high transaction volumes in an effort to strengthen financial integrity and align with international compliance norms.
