UK bookmakers are failing to check the ages of young gamblers using FOBTs (fixed odds betting terminals) in their shops claim campaign group 38 Degrees.
Problem gambling costs the UK up to £1.2bn a year, according to a recent report commissioned by charity GambleAware. Up to 1.1% of the adult population are believed to have a gambling problem, with added strain being placed on the social welfare system.
The Gambling Commission has recently unveiled their new strategy to enforce stronger penalties for operators who do not adequately guard against money laundering, problem gamblers or who fail to provide a fair and adequate service.
Know Your Customer is the term commonly used by industry professionals when referring to the procedures used to determine the true identity of a customer.