UK regulator turns up heat on igaming operators

UK regulator turns up heat on igaming operators

Monday, January 8, 2018 Posted by Andy McCarron
No alternative text provided
Gambling Commission throws spotlight on AML and social responsibility

The Gambling Commission has launched investigations into 17 online gaming operators in the UK following a sector review of anti money-laundering practice and social responsibility, with five operators potentially facing a licence review.

The Commission has written to all online casino operators, setting out the regulator’s expectations in terms of addressing money-laundering and acting in a socially responsible manner.

The regulator said that, as a result of the serious nature of its findings, it has launched investigations into 17 online operators and is weighing up whether five of those should have their licences reviewed.

In a statement, Sarah Harrison, chief executive of the Gambling Commission, said: “It is vital that the gambling industry takes its duty to protect consumers and keep crime out of gambling seriously.

“The new strategy sets out our vision for a fairer and safer gambling market. The action we are taking to examine online casino operators’ compliance with money-laundering and customer-interaction requirements is just one example of how we will be relentless in turning that vision into reality.”

Harrison added that the Commission was also conducting a broader review of online gambling, examining how the sector has grown and identifying where further action can be taken “to make gambling fairer and safer for consumers”.

Totally Gaming says: In the letter sent to operators, the Gambling Commission cited failings that raised “significant concerns about the effectiveness of the [online] casino sector’s management and mitigation of risks to the licensing objectives.” Be in no doubt that the regulator is showing its teeth here and reminding online operators that it will continue to develop its understanding of this fast-moving sector.

Latest
No alternative text provided

QTech plots Asian domination

No alternative text provided

Clean Break… GVC offloads Turkish business

No alternative text provided

Protection failures result in £6.2m William Hill penalty package

No alternative text provided

Paysafe: Embracing new regulation to achieve a competitive edge

Gaming Products & Services Directory

The essential directory for the gaming industry