Friday, May 6, 2016 : CRIME PREVENTION MEASURES TIGHTENED FOR UK GAMBLING COMMISSION LICENSEES
Three new key requirements for operators.
Following a consultative initiative, the UK Gambling Commission has announced three new key anti-crime measures for implementation later this year by its licensees.
The areas embrace anti-money laundering and reportage of criminal activity; specifically, operators will be required to:
* Conduct risk assessments on money laundering in respect of their businesses and demonstrate that they have implemented efficient measures and procedures to reduce the risk;
* Report to the regulator on any criminal investigations in which they are involved and in which their anti-crime procedures have failed;
* Ensure that they have effective procedures and policies which prevent employees from taking advantage of suspicious or irregular betting patterns.
The Commission's regulatory director, Nick Tofiluk said in a statement on the new requirements that operators should familiarise themselves with the Commission's document on the regulations to ensure that their companies were compliant and ready for the implementation of the new measures, which will likely come into force in the northern hemisphere autumn.