The British regulator has suspended Goldchip Limited’s operating licence while it conducts an investigation.
UK.- The Gambling Commission has suspended Goldchip Limited’s operating licence pending a review conducted under section 116 of the Gambling Act 2005. The regulator said it had received reports of possible contraventions of licensing conditions that may render the company “unsuitable to carry on the licensed activities”.
The Gambling Commission said the suspected breaches involved social responsibility and anti-money laundering issues. The regulator instructed the company to ensure it keeps customers informed of developments. The operator can allow consumers to access their accounts and withdraw funds during its licence suspension.
It said in a statement: “We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.”
Gambling Commission fines Jumpman Gaming and Progress Play
Two gambling businesses will pay a combined £675,000 in regulatory settlements after the British Gambling Commission identified social responsibility and anti-money laundering failures.
Guernsey-headquartered Jumpman Gaming Limited, which runs 243 websites, will pay £500,000. Cyprus-based Progress Play Limited, which runs 201 websites, will pay £175,718.
In both cases, the settlements will be directed to the National Strategy to Reduce Gambling Harms.
In Jumpman Gaming’s case, a Gambling Commission investigation revealed that customers had lost £15,000, £20,000 and £19,000 over periods of a month, six weeks and four months, without the operator obtaining sufficient evidence on affordability.
In the case of Progress Play, while customer profiles contained some evidence of SOF information being recorded, there was a lack of a clear rationale regarding decision-making and a failure to effectively review SOF information provided, resulting in customers being able to spend more than their known earnings.
The British government’s under-secretary of state for technology and the digital economy, Chris Philp, has told campaigners that gambling reform is “long overdue” and that “change is coming”. The Department for Digital, Culture, Media and Sport launched a review of British gambling legislation in the last quarter of 2020 but has yet to publish an expected gambling white paper outlining its proposed reforms.