The UK Gambling Commission has been investigating three online gambling operators to assess whether they have been meeting their social responsibility and money laundering checks. Sadly, it has found that two of them have failed in some way and has, therefore, had to impose new conditions on their gambling licences.
The UKGC’s licence reviews form part of its ongoing drive to raise standards within the gambling industry, and it comes down hard on operators who it deems are not doing enough to keep their customers safe, as well as failing to sufficiently prevent potential criminal spend and money laundering.
The Commission’s most recent reviews looked into the operations of BGO Entertainment Limited, NetBet Enterprises Limited, and GAN PLC.
After carrying out its investigations, the UKGC decided that all three operators must improve their procedures and policies and make financial contributions to the National Strategy to Reduce Gambling Harms. However, only BGO and GAN PLC had new conditions imposed on their existing gambling licences.
BGO Entertainment Limited is the operator behind BGO, Chilli, Vegas Luck, and Power Spins.
According to the UK Gambling Commission, between 25th September 2018 and 23rd March 2020, the company failed to have effective procedures and policies in place for players who may have been displaying signs of problem gambling. Furthermore, the Commission believes that its anti-money laundering controls were ineffective and inadequately resourced.
BGO must now carry out additional anti-money laundering and social responsibility checks on its customers, as well as pay £2 million to help the UKGC implement the National Strategy to Reduce Harms.
BGO responded to the outcome of the Commission’s investigation to say that it agreed that it had failed to put effective problem gambling policies and procedures in place. It also admitted that it had not always identified and interacted with customers who were displaying signs of problem gambling.