It has been announced that tougher online operator license conditions have been imposed by the UK Gambling Commission following an investigation in to social responsibility and money laundering failures.
Three gaming companies; NetBet Enterprises, BGO Entertainment and GAN have recently been subject to reviews of their licenses after they failed to keep consumers safe and prevent money laundering along with criminal spend.
In addition, two out of the three forementioned firms will have new license conditions imposed on them and all of which will be required to improve their policies and procedures for such activities.
What’s more is, the gambling operators will also have their actions reviewed in regards to ‘Personal Management Licence’ and will make a payment towards the work of National Strategy to Reduce Gambling Harms; a three-year strategy which will drive and coordinate work to bring a lasting impact on reducing gambling harms.
Specific failures for each corporation have been outlined in the report review, which can be viewed on the links below, including failure to recognise and protect gambling problems over a set period of time along with adequately resourcing anti-money laundering controls.
In addition, the sums of two-million pounds, one-hundred and forty six thousand and seven-hundred and forty eight thousand will be paid by BGO, GAN and NetBet respectively to the National Strategy to Reduce Gambling Harms.
Executive director at the UK Gambling Commission Richard Watson commented on the news:
“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.”