Monday September 7,2015 : UKGC URGES OPERATORS TO LEARN FROM RANK GROUP MISTAKES

Gaming firm to surrender an estimated GBP 950 000 in penalties.

The UK Gambling Commission (UKGC) has publicly urged licensees to learn from British gambling firm Rank Group’s shortcomings in anti-money laundering (AML) controls for its Grosvenor and Mecca Bingo brands.

Operators are urged to “critically review the effectiveness of their policies and procedures to prevent gambling being used to support crime or risk more formal regulatory action” the statement said which follows an investigation into Rank Group’s Grosvenor Casinos prompted by a money laundering conviction of a major customer named as Mr Da Feng Ding.

Rank Group will surrender an estimated GBP 950 000 in profits that resulted from these shortcomings, to which will be spent on “agreed socially responsible purposes,” the Commission said.

Separately, another case was investigated by the Commission involving a Rank meccabingo.com customer who currently awaits sentencing following a guilty plea where she admitted to defrauding a six-figure sum from her employers.

Other remedial action ordered by the commission includes a third party audit of Rank Group’s revised AML arrangements.

A detailed statement on the action and the two cases involved can be found at: http://www.gamblingcommission.gov.uk/pdf/RankGroup070915.pdf