UK – UK Gambling Commission warns over anti-money launderingBy Phil - 8 January 2018
The Gambling Commission has written to all online casino operators to raise concerns about the sector’s approach to anti-money laundering and social responsibility.
In the letter we have set out how we expect operators to review all of their processes aimed at tackling money laundering and meeting their social responsibility obligations.
This follows a thematic review of the sector to consider how well operators are meeting their current obligations. Due to the serious nature of our findings, we have already begun investigations into 17 online operators, and are considering whether five of these require a licence review.
Sarah Harrison, Gambling Commission Chief Executive, said: “It is vital that the gambling industry takes its duty to protect consumers and keep crime out of gambling seriously. The Gambling Commission’s 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. ”
“As the online sector continues to grow, and now accounts for a third of the British gambling market, it is right that we maintain a sharp focus on online gambling. That is why in addition to our work on compliance among online casino operators, we have also been conducting a wider ranging review of online gambling looking at how the market has evolved and to identify where further action can be taken to make gambling fairer and safer for consumers.”