AML for gambling

Ongoing checks for responsible gambling

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.

Don’t gamble with your operating licence

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.

William Hill fined £6.2m for breaching anti-money-laundering regulations

The Gambling Commission have fined bookmaker William Hill more than £6 million after it found that the company had "failed to mitigate risks and have sufficient numbers of staff to ensure their anti-money-laundering and social responsibility processes were effective".

Identity checking for Gambling

Gambling providers are required by law to carry out identity checks to ensure that those gambling are of legal age and not linked to crime, money laundering or terrorism. Gambling operators must also adhere to local laws and ensure that those using their services meet geographic requirements.

Online casinos failing to adhere to Gambling Commissions AML and KYC regulations

According to an article posted on the BBC website last week, online casinos are failing to adhere to the Gambling Commissions policies on Anti-money Laundering and the protection of problem gamblers.

It has written to all 195 UK operators and warned them to review procedures.