UKGC bares teeth to online casinos

8 Jan 2018

UKGC bares teethThe United Kingdom Gambling Commission is set to tackle increased customer complaints and allegations concerning money laundering against remote casino operators. On January 4th the UKGC sent an open letter to 17 licensed online casinos, with the intent of looking into whether at least five of them should be put under a license review. The compliance assessment has highlighted three key points concerning money laundering, terrorist financing and complying with the current regulatory status. More specifically, each operator should heed to the following:

  1. Licence condition 12.1 Prevention of money laundering and terrorist financing
  2. The Proceeds of Crime Act 2002 (POCA)
  3. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)
    Regulations 2017 (the Regulations).Additionally, each online casino will be held accountable for acting in the interests of social responsibility and heeding to the existing legislation clauses. The UKGC has requested from casino operators to:
  • Conduct appropriate assessments of the risks of money laundering and terrorist financing for your businesses, and implement policies, procedures and controls which manage the identified risks effectively
  • Introduce measures for customer due diligence, the ongoing monitoring of customers and enhanced customer due diligence which are sufficiently risk-focused, including better risk profiling of customers
  • Ensure that they are able to adequately evidence customer interactions providing their staff with appropriate training to ensure that they are aware of the law relating to money laundering and terrorist financing and how to recognise and deal with transactions, activities or situations which may be related to money laundering or terrorist financing.
  • Ensure that their policies and procedures make specific provision for making use of all relevant sources of information where they have concerns that a customer’s behaviour may indicate problem gambling and putting into effect such policies and procedures.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Ultimate Fighting Championship (UFC) organization announced that it became an official partner of the crypto-sportsbook Stake.com. The partnership...

Read more »

Renowned bookmaker Betvictor has agreed with Newbury Racecourse to become its main sponsor for 41 races in 2021, including popular events, such as the...

Read more »

Betfair announced that it has launched a new service called ‘MatchMe’. It acts as a betting advisor and allows players to edit their bets on the excha...

Read more »

The Russian-licensed betting site of Bwin, Bwin.ru, has stopped its operations in the Russian market. Last weekend, players from Russia were being dis...

Read more »

The Malta Gaming Authority (MGA) has announced that seven bookmakers have been removed from its list of licensees during the first half of 2020. The c...

Read more »

The renowned bookmaker Parimatch has been approved to acquire a license from the Ukrainian gambling regulator, the Commission for the Regulation of Ga...

Read more »

Every day we get bombarded by dozens if not hundreds of extravagant remarks by various online sportsbooks claiming to be the best when it comes to odd...

Read more »

Betfred has agreed to become the title sponsor of 2021 Challenge Cup, Women’s Challenge Cup and Wheelchair Rugby League Challenge Cup. Betfred has bee...

Read more »

Betfair recently secured an operating license from the Colombian betting regulator Coljuegos. This license allows the renowned bookmaker to operate le...

Read more »

Betzest has signed a deal with Zimpler, one of the most renowned payment methods. Zimpler is especially popular in Finland, and it offers bettors inst...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets + €10 Casino
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
  • Code:WELCOMEBONUS
100% up to €100
K9win
  • 3+ Asian football lines
  • 1,000 live events/day
  • 50+ football leagues available
100% Bonus up to ₫10,000,000
Neo.bet
  • 9.000+ live events per month
  • 20.000+ pre match events monthly
  • 1-click bet
100% up to €150
Mr Play Sports
  • 10.000 pre-match events per month
  • 35+ sports
  • 140+ extra bets
100% up to €100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
100% up to €/$150
Bet365
  • Ideal for football lovers
  • 150+ extra bets on top leagues
  • Multiple Asian handicap markets
$30 in Bet Credits
Rolletto
  • 95%+ on tennis
  • Alternative spreads on basketball
  • Asian View
120% up to €/$240
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
€25 Welcome Bonus
Betiton
  • 94%+ payout on tennis
  • 180+ alternative bets on top leagues
  • Lots of alternative HC’s on basketball
Bet €15, Get €10
b-Bets
  • 30+ alternative handicaps in basketball
  • 150+ pre-game football lines
  • More than 30 live tennis markets
110% up to €150
Betinia
  • MGA license
  • 10,000+ events monthly
  • Asian Handicaps
100% up to €/$100
LATEST BOOKMAKER PROMOTIONS