UKGC take on several online casino companies and their management

The UK Gambling Commission has sent a strong message with the launch of widespread action against several online casino firms and their senior management as part of an ongoing investigation into how the industry combats problem gambling and money laundering.

Almost GBP 14 million in penalty packages will be paid by three companies due to failings in the prevention of money laundering and consumer gambling-related harm.

As previously announced, Daub Alderney has been ordered to pay GBP 7.1 million, Casumo a penalty of GBP 5.85 million and Videoslots GBP 1 million in lieu of a financial penalty.

In additional action, under investigation, CZ Holdings chose to surrender its licence after a licence review had been initiated and will no longer be able to offer its services to British players while nine other unnamed operators have been issued with Advice to Conduct letters and a further six are still under investigation.

Senior management individuals are also in the firing line with the UKGC taking regulatory action against those responsible for the failings.

Three unidentified Personal Licence Holders (PML) have surrendered their licenses, four have been issued with a warning and two have been issued with Advice as to Conduct notices. A further three individuals who hold PMLs are still under investigation, the UKGC said.

Neil McArthur, Commission CEO, said: “I hope today’s announcement will make all online casino operators sit up and pay attention, as our investigations found that a large number of operators and their senior management were not meeting their obligations.

“It is not enough to have policies and procedures in place. Everyone in a gambling business must understand its policies and procedures and take responsibility for properly applying them.

“We expect operators to know their customers and to ask the right questions to make sure they meet their anti-money laundering and social responsibility obligations.

“Anyone in a position of authority needs to be aware that we will not only act against businesses when we take regulatory action – we will also hold individuals to account where they are responsible for an operator’s failings.”

Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, added: “Any online operator that thinks it can ignore its duty to protect players should take note today – there will be consequences. Protecting vulnerable consumers is our prime concern, and it must be the priority for gambling operators too.

“There are robust requirements to safeguard players and prevent money-laundering which all businesses must adhere to if they wish to operate in the British market. I am pleased to see the Gambling Commission taking the strongest possible action when companies fail to meet their obligations.”

More here.

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