The UK Gambling Commission (UKGC) is introducing a number of changes to its licence conditions and codes of practice (LCCP) in order to prevent gambling related crime.
The changes that will come into effect on October 31 will include the requirement for all licensees to report criminal investigations they are involved in. UKGC will also be expected to investigate whether the licensee’s measures to prevent crime in gambling have failed.
The Commission is also introducing a consolidated AML requirement, requesting licensees to manage the risk of their business being used for money laundering and terrorist financing.
A big emphasis is placed on policies and procedures set for cash handling and ensuring that adverts on licensees’ sites do not provide unauthorised access to copyrighted content.
The UKGC comments on the changes: “We think that the most effective regulatory approach is to focus on the outcomes we expect operators to achieve.”
“In some areas we specify particular rules or processes, but where possible, we aim to allow licensees to take differing approaches to meet our requirements; this includes using rapidly developing technological tools and data analytics,” UKGC adds.
The Commission has a power to take action against licensed operators who fail to comply with the conditions of their licence or codes of practice.
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29 October 2020