UK – Gambling Commission suspends Goldchip licenceBy William - 19 May 2022
The Gambling Commission has suspended the operating licence of Goldchip Limited as it carries out a review.
The review under section 116 of the Gambling Act 2005 and consequent suspension follows concerns that activities may have been carried out contrary to the Act, not in accordance with conditions of their licence and that the Licensee may be unsuitable to carry on the licensed activities.
Suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision.
In accordance with section 118 (2) of the Act, the Commission has determined to suspend the operating licence.
The Commission stated: “We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.
“The suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds. Goldchip Limited – which operates goldchip.com – can be contacted through its website.
“The suspension takes place immediately.”