How the UKGC intends to clamp down on crime

Published by CasinoTopsOnline on May 18, 2016 in Industry News

UKGCThe online gambling industry is a thriving market that unfortunately lends itself to crime. When money is the central focus, as it is with online gambling, there is always the possibility of people taking advantage of this in order to make a quick buck.

The UK Gambling Commission recently conducted a consultation to determine just how big of a threat organised crime is to the industry. Now that there has been a thorough investigation, new security measures and laws are being put into place. There are many new security measures that gambling companies operating within the UK will need to implement and the UKGC has stated that they will have until the end of 2016 to do so.

New Security Measures

Three core changes were revealed by the UKGC with the first and most important being the need to put an end to money laundering. All operators will have to assess the risk of money laundering within their own businesses and outline policies and procedures to combat this threat.

The second largest change that gambling operators will have to implement is the obligation to report their involvement in any and all criminal investigations. This will relate to any investigations into their business or on their premises.

A change of image

One of the most important outcomes of these new policies is that the UKGC is hoping to change the ugly scars of illegal and irregular betting within sports games. Tennis in particular has been largely targeted by this and the UKGC hopes to mend that image. All operators will soon be required to ensure that any employees of their businesses not take advantage of betting patterns. How exactly this new policy will be implemented has not yet been made clear by the UKGC.

The UK Gambling Commission has not yet decided whether or not gambling operators will be required to uncover any other illegal activities that have not been announced with the new policies. In an effort to show a support of social responsibility, the UKGC is determining how far they will be ordering operators to go.

Changes coming soon

After making a statement about the new policies that are to be implemented, UKGC director of regulation Nick Tofiluk announced that the changes will be taking place as early as Autumn. How strictly these policies will be policed and if they will be adhered to are still to be seen, but it is clear that the UKGC fully intend to clean up messes that have been ignored for far too long.