Gambling Commission to Introduce Stricter License Requirements for Online Providers

UK Gambling Commission is looking to impose stricter license rules for online casino operators. As part of the regular checks, the Authority has investigated three companies regarding social responsibility and money laundering issues. Gan PLC, BGO Entertainment, and NetBet were under review due to numerous failures in terms of customer safety and criminal activities.

More Details

Following the procedure, both BGO and Gan PLC will have to meet stricter license conditions as well as to enhance security policies. They also have an obligation to pay the contribution to National Strategy to Reduce the Gambling Harms program. The UK Commission will also check the individual management actions within the companies.

Speaking on the latest measure, Executive director at the Gambling Commission, Richard Watson said:

“Licensees must protect consumers from harm and treat them fairly. Our recent investigations uncovered a variety of consumer protection and anti-money laundering failings at each of these three operators and as a result, we are using a range of enforcement tools against them. We will continue to crack down on failing operators through our tough and proactive compliance and enforcement work.”

About the Failures

As a result of the investigation, BGO did not introduce adequate procedures for customers showing problem gambling behavior between 25 September 2018 and 23 March 2020. The provider has also failed to apply strict anti-money laundering controls from 25 September 2018 to 21 July 2020.

Gan PLC, on the other hand, missed the obligation to comply with license requirements regarding social responsibility and anti-money laundering. The brand is also responsible for failing to inform customers that underage gambling is an offense.

NetBet Enterprises Limited has also been in breach of regulatory rules. The brand did not comply with license conditions regarding social responsibility and anti-money laundering from 20 November 2018 to 29 May 2019. As a result, the company will have to make additional changes in its procedures as well as to cover contribution to the National Strategy to Reduce Gambling Harms.

Source:

“Gambling Commission imposes tougher license conditions on online operators”, gamblingcommission.gov.uk, October 28, 2020.

The post Gambling Commission to Introduce Stricter License Requirements for Online Providers first appeared on RealMoneyAction.com.



from RealMoneyAction.com https://www.realmoneyaction.com/gambling-commission-to-introduce-stricter-license-requirements-for-online-providers/
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