UKGC Warns Operators About Anti-Money Laundering

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Operators are Warned by the UK Gambling Commission to Tighten Anti-Money Laundering Measures

UKGC Warns Operators About Anti-Money LaunderingThe UK Gambling Commission issued a warning to all UK operators to tighten up anti-money laundering measures after recent investigations led the regulator to suspicious activity with social responsibility and anti-money laundering at Meccabingo.com and Rank owned Grosvenor casinos. The Commission says lessons should be learned after the findings in the investigation and conviction of Da Feng Ding, a former customer of the Grosvenor Casino group.

According to the UKGC acknowledgement has been taken by Rank with its “failures to apply the lessons learnt from previous scrutiny,” and shortcomings. The Commission also said that “the Commission has agreed the operator’s remedial actions including a third party audit of its revised anti-money laundering arrangements and the surrender of an estimated £950,000 (€1.32m/$1.47m) profits that resulted from these shortcomings, to be spent for agreed socially responsible purposes.”

The separate case that involved a customer of Meccabingo.com is awaiting sentencing after they pled guilty to defrauding from her employers a six figure amount. This particular customer was able to gamble all monies without Rank Digital performing adequate measures.

“The Commission is bringing to the attention of all operators the need to take a critical approach to assessing their own policies and procedures and, crucially, whether they are being followed and remain fit for purpose, to avoid generating a false sense of security,” added the UKGC.

 

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