In the uk, three accredited online casino operators have allegedly been fined by the Gambling Commission regulator to the combined tune of nearly £14 million ($17.8 million) after they were found not to have executed ‘effective guards ’ to safeguard players and protect against money laundering.
Permit suspension:
According to some Thursday reports from The Independent newspaper along with the British Broadcasting Corporation (BBC), the penalties come after recent statistics revealed an increase in the incidence of television and online gambling commercials alongside a growth in the number of underage gamblers. The actions also watched the regulator suspend the permit of Malta-based CZ Holdings, which operates the domain name at DrVegas.com, and problem nine other firms with letters regarding their future conduct.
Inadequate customer observation:
Daub Alderney Limited, which is responsible for over 100 online brands such as the website in LuckyVIP.com, was allegedly one of those ordered to pay a good with its punishment amounting to about £7.1 million ($9 million). This came after the Gambling Commission deemed inadequate the Guernsey-headquartered company ’s customer observation procedures.
Also reportedly penalized was the operator behind the online casino in Casumo.com, Casumo Services Limited, after an investigation begun in January decided that it had failed to properly assess and monitor its own players. The Maltese firm was ordered to hand over in excess of pound;5.8 million ($7.4 million) after it was found to haven’t taken appropriate actions in response to a trio of customers who had revealed possible signs of problem gambling.
Money laundering worries:
Ultimately, Panda Media Limited, which runs the online casino in VideoSlots.com, was fined to the tune £1 million ($1.2 million) over allegations that it wasn’t correctly carried out customer identification checks. In 1 case highlighted by the Gambling Commission, a player had purportedly enrolled multiple fraudulent charge cards with the website using a bogus driving permit before heading on to deposit some £17,405 ($22,217).
Operators must ‘sit up and listen ’:
Neil McArthur, Chief Executive for the Gambling Commission, declared he hoped the fines would prompt online casino firms to lsquo;sit up and listen ’ after the regulator found that ‘a large number of operators along with their senior administration ’ hadn’t been meeting their duties.
McArthur’s statement reportedly browse …
&ldquoWe expect operators to know their customers and to ask the right questions to be certain they fulfill their anti-money laundering and social responsibility duties.
