Today, a new report issued by the UK Gambling Commission has revealed that gambling operators and the ones who lead them would have to improve the customer support they offer to players who are at risk of gambling-related harm and make sure they comply with anti-money laundering rules.
The gambling regulator’s “Raising Standards for Consumers Enforcement Report” provides an overview of the enforcement work which the Commission has undertaken over the past year. In addition, the report also provides some pieces of advice for operators.
Today we have published our Enforcement Report 2018/19, the Report provides an overview of the enforcement work we have undertaken over the past year and sets out future lessons for operators. Read more: https://t.co/U7zPjx6enU pic.twitter.com/TshYICMnYh
— Gambling Commission (@GamRegGB) June 27, 2019
Over the last 12 months, more than 160 investigations into gambling companies have been carried out by the UKGC. Regulatory enforcement action has resulted in various sanctions against operators and their senior management. The amount paid in penalty packages by the companies is estimated to £19.6 million to punish them for failures to comply with Commission rules aimed at making sure gambling is safer, fairer and remains crime-free.
Neil McArthur, the Chief Executive Officer of the UKGC, explained that he was willing to make sure that British gamblers are able to enjoy the safest and fairest gambling on a global scale. However, in order for this to happen, gambling operators need to work together with the Commission, so that customer safety and service are put as paramount priorities of the companies’ corporate agenda.
Mr McArthur further noted that the UK gambling industry regulator would continue to punish operators in case it finds companies breaching the rules or failing to meet the UKGC’s expectations. Still, he explained that the Commission wants to minimise the need for such action by offering advice, a programme of support material and compliance activity in order to help operators to properly provide the level of customer protection required.
UK Gambling Regulator Impose Hefty Fines for Customer Protection and Money Laundering Failures
The last few months have seen tough regulatory action, as part of the UK Gambling Commission’s efforts to tackle money laundering, keep the industry crime free and guarantee that customers are well-protected against gambling-related harm.
In mid-May 2019, the UKGC revealed that it imposed a total penalty package of £4.5 million on four online gambling businesses because they failed to guarantee effective safety measures to prevent money laundering and to guarantee qualitative customer protection. The four gambling operators which suffered the monetary penalties were InTouch Games Limited (£2.2 million), Betit Operations Limited (£1.4 million), MT Secure Trade (£700,000) and BestBet Limited (£230,972).
Later, in mid-June, the UKGC imposed two other monetary penalties, to Gamesys and Platinum Gaming, amounting to £1.2 million and £1.6 million, respectively, for both companies’ failures to identify gambling-related harm, violations of some anti-money laundering regulations and for failing to prevent money laundering.
The latest regulatory action which has been undertaken by the Commission following a massive regulatory action which ended up with hefty fines being imposed on gambling operators in November 2018. At the time, three online casino companies – Daub Alderney, Casumo and Videoslots Limited – suffered penalty packages totalling almost £14 million, which have been imposed on them because of their failures to combat problem gambling and money laundering.
- Author
Daniel Williams
