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Casinos facing license review over money laundering

The UK Gambling Commission has continued its crackdown on online casino operators who are not doing enough to stop criminals using their websites for money laundering purposes. According to The Guardian online, 17 online casino companies have been written to by the commission, who were flagged up for not meeting the strict standards around anti-money laundering in the UK.

The regulator is seriously considering removing the UK operating license for 5 online casinos who have performed poorly when it comes to safeguarding customers and preventing money laundering and problem gambling.

In a letter to companies operating in the online casino sector, the commission said it had identified a number of key areas that companies were falling short and that they would take a tough approach to those firms who were not meeting the standards expected of them.

The regulator’s chief executive, Sarah Harrison, 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.”

 

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