UKGC Handing Out Fines...Again!

[Garf79]

The UKGC (United Kingdom Gambling Commission) has been fining casino operators again, this time for anti-money laundering and social responsibility breaches. Although the fines were very small considering how much money casinos make. This is a sign though that regulations are getting tougher and casinos that break the rules are getting punished. UK Parliament is looking to bring in new legislation strengthening existing laws and making it harder for casinos to operate. The only thing is, do they really have the power to regulate this industry? There are so many online casinos out there now that the regulators job is getting harder every day. Below is an article from the UKGC website and you can see that the two casino operators that got the small fines run over 400 online casinos between them. Checking this amount of data requires a lot of man power and personally I don't think the Government has the resources to do this.

 

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Online gambling businesses face £675,000 regulatory action

17 May 2022

Two gambling businesses will pay a total of £675,000 in regulatory settlements after Gambling Commission investigations revealed social responsibility and anti-money laundering failures.

Jumpman Gaming Limited – which runs 243 websites – will pay £500,000 and Progress Play Limited – which runs 201 websites – will pay £175,718 to the National Strategy to Reduce Gambling Harms.

Details of the failings can be read in the public statements.

Leanne Oxley, Gambling Commission Director of Enforcement and Intelligence, said: “We will always clamp down on operators who fail in their obligations to keep gambling safe and crime-free. We encourage other operators to consider the failings identified in these cases carefully, and consider what improvements they can make in their own businesses." (SOURCE)