In a move to help prevent gambling-related crime, the UK Gambling Commission (UKGC) plans to introduce a number of amendments to its license conditions and codes of practice (LCCP), which will be effective from October 31, 2016.
As part of the changes, the UKGC will require all licensees to report any criminal cases or inquiries that they are involved in where the UKGC may find they may have failed to prevent a crime in gambling due to inadequate measures being taken.
An anti-money laundering requirement will also be included which will obligate the licensee to assess and manage the risk that their business may be used for money laundering purposes or for financing terrorism.
The UKGC widened the scope of some of their existing clauses, particularly those related to managing suspicious or irregular betting patterns and that their employees may not place bets based on any information they receive related to these patterns.
Risks related to payment methods must be minimised by operators. In addition, licensees are responsible for advertising and ensuring that ads are not found on sites with unauthorised access to copyrighted material.
Licensees are also expected to have policies and procedures in place that will allow them to handle cash and cash equivalents.
“We think that the most effective regulatory approach is to focus on the outcomes we expect operators to achieve,” read a statement by the UKGC on their website.
“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.”
“We have powers to take action against licensed operators who fail to comply with the conditions of their license or codes of practice.”