The Dominican Republic’s Ministerio de Hacienda y Economía has formalized an agreement with the Financial & International Business Association (FIBA) to bolster the nation’s Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) systems within the gambling industry. Announced on February 20, 2026, this strategic collaboration, led by Minister Magín Díaz and FIBA CEO David Schwartz, aims to curb illicit financial activities in a sector that includes casinos, sports betting, and electronic lottery concessions. This initiative is seen as a critical advancement in reinforcing compliance monitoring within one of the most financially sensitive regulated industries in the country.
The agreement includes the development and execution of a specialized Anti-Money Laundering Certification Program (AMLCA–Gambling) tailored for government officials, gambling operators, and other entities in the Dominican Republic. The aim is to elevate the skill set of professionals overseeing financial transactions in the gambling sector, aligning them with global AML/CFT standards. This program will be supported by FIBA’s collaboration with Florida International University (FIU), integrating academic insights to enhance technical expertise and best practices.
The necessity of this partnership extends to international compliance evaluations. The Ministry highlighted that the alliance will mitigate risks associated with assessments conducted by international bodies, such as the Financial Action Task Force of Latin America (GAFILAT). These evaluations are crucial as they assess the effectiveness of a country’s regulatory framework and its adherence to international financial integrity standards. Improving supervisory mechanisms in high-risk sectors like gambling is vital for enhancing the outcomes of such evaluations.
Institutional reform is a key component of this initiative, as emphasized by the Ministry. The partnership with FIBA is part of a broader strategy aimed at strengthening the country’s institutional capabilities in collaboration with global organizations. This approach seeks to ensure that the regulated sector achieves a high level of professionalism and compliance. Gaming activities, known for their cash-flow intensity and international interactions, necessitate rigorous monitoring to prevent financial misconduct.
As the certification program unfolds, its success will be gauged by not only the number of certified professionals but also the tangible improvements in transparency, compliance reporting, and risk management within the national gambling industry. The Dominican Republic’s efforts reflect a regional trend in Latin America, where there is a growing recognition of the need to fortify AML/CFT measures in sectors characterized by significant financial transactions.
Looking forward, the implementation of this agreement is expected to enhance the Dominican Republic’s compliance standards and supervisory capabilities, aligning them more closely with global financial norms. This alignment could have significant implications for the gambling industry, potentially influencing market dynamics and operator practices. The next steps for the Ministry will involve close monitoring of the program’s rollout and evaluating its impact on the country’s broader regulatory and compliance landscape.
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