The UK Gambling Commission is planning to launch a set of new rules prepared to lower the gambling-related crime rate. The new rules are announced as a result of a consultation led by the Gambling Commission that took place at the end of 2015, and they will come into force later this year.
The new rules will enforce on operators licensed by the Gambling Commission and operating in the UK market conducting an assessment of money laundering risks in the business and provide the regulatory body with a proof that they have effective policies, procedures and measures to prevent ituk
New regulations will also require the operators to inform the Gambling Commission about any ongoing criminal investigation, which involves them and/or their place where the operator failed to keep crime out of gambling field.
The last of the enforcements will require operators to introduce terms & conditions that will prevent staff from taking advantage of any illegal actions. The Gambling Commission is also considering to introduce the requirement to provide all information regarding crimes that are not covered by the changes, as it might help with social responsibility considerations.
Nick Tofiluk, director of regulation at the Gambling Commission, said: “Britain’s gambling industry needs to focus on keeping crime out of gambling and these new requirements will help them do just that. We are urging all operators who supply products to consumers in Britain to read our document on the changes thoroughly and ensure their businesses are ready for when they come into force in the autumn. Along with ensuring their products are fair and open and children and vulnerable people are protected, preventing crime associated with gambling should be extremely high on every operator’s agenda. These new requirements encourage licensees to take a proactive and tailored approach to meeting their obligations to achieve meaningful results rather than focusing on processes alone.”
